Patton Albertson Miller Group LLC Lowers Holdings in Roper Technologies, Inc. (NYSE:ROP)

Patton Albertson Miller Group LLC decreased its holdings in Roper Technologies, Inc. (NYSE:ROP) by 2.4% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 12,722 shares of the industrial products company’s stock after selling 310 shares during the quarter. Patton Albertson Miller Group LLC’s holdings in Roper Technologies were worth $7,079,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. ORG Partners LLC raised its position in Roper Technologies by 764.2% in the 2nd quarter. ORG Partners LLC now owns 1,158 shares of the industrial products company’s stock worth $652,000 after buying an additional 1,024 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its position in Roper Technologies by 1.0% in the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 240,633 shares of the industrial products company’s stock worth $136,455,000 after buying an additional 2,399 shares during the last quarter. PNC Financial Services Group Inc. raised its position in Roper Technologies by 5.4% in the 3rd quarter. PNC Financial Services Group Inc. now owns 34,652 shares of the industrial products company’s stock worth $19,282,000 after buying an additional 1,789 shares during the last quarter. PGGM Investments grew its stake in shares of Roper Technologies by 739.4% during the 2nd quarter. PGGM Investments now owns 72,596 shares of the industrial products company’s stock valued at $40,919,000 after purchasing an additional 63,947 shares during the period. Finally, Citigroup Inc. grew its stake in shares of Roper Technologies by 17.6% during the 3rd quarter. Citigroup Inc. now owns 190,587 shares of the industrial products company’s stock valued at $106,050,000 after purchasing an additional 28,555 shares during the period. Hedge funds and other institutional investors own 93.31% of the company’s stock.

Insiders Place Their Bets

In other news, Director Richard F. Wallman sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $550.00, for a total transaction of $550,000.00. Following the sale, the director now directly owns 32,955 shares of the company’s stock, valued at $18,125,250. This represents a 2.95 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.87% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ROP. Robert W. Baird boosted their price target on Roper Technologies from $635.00 to $652.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Truist Financial restated a “buy” rating and set a $665.00 price target (up from $660.00) on shares of Roper Technologies in a research note on Thursday, October 24th. Jefferies Financial Group boosted their price target on Roper Technologies from $625.00 to $635.00 and gave the company a “buy” rating in a research note on Friday, August 16th. Royal Bank of Canada cut their price target on Roper Technologies from $675.00 to $666.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Finally, Mizuho boosted their price objective on Roper Technologies from $530.00 to $565.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Three equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $620.80.

Roper Technologies Trading Down 0.4 %

ROP stock opened at $557.94 on Tuesday. Roper Technologies, Inc. has a 1-year low of $508.22 and a 1-year high of $579.10. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.48 and a quick ratio of 0.44. The company has a market capitalization of $59.83 billion, a price-to-earnings ratio of 40.81, a PEG ratio of 2.93 and a beta of 1.03. The business has a 50 day simple moving average of $552.45 and a two-hundred day simple moving average of $549.67.

Roper Technologies (NYSE:ROP) last posted its quarterly earnings results on Wednesday, October 23rd. The industrial products company reported $4.62 earnings per share for the quarter, topping the consensus estimate of $4.53 by $0.09. Roper Technologies had a return on equity of 10.73% and a net margin of 21.78%. The business had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.72 billion. During the same period in the prior year, the company posted $4.32 EPS. The firm’s revenue for the quarter was up 11.7% compared to the same quarter last year. Research analysts anticipate that Roper Technologies, Inc. will post 18.24 EPS for the current fiscal year.

Roper Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Friday, January 3rd will be paid a $0.825 dividend. This represents a $3.30 annualized dividend and a yield of 0.59%. This is an increase from Roper Technologies’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend is Friday, January 3rd. Roper Technologies’s dividend payout ratio is presently 24.14%.

Roper Technologies Company Profile

Roper Technologies, Inc designs and develops software, and technology enabled products and solutions. It operates through three segments: Application Software, Network Software, and Technology Enabled Products. The Application Software segment offers management, campus solutions, diagnostic and laboratory information management, enterprise software and information solutions, transportation management, financial and compliance management, and cloud-based financial analytics and performance management software; cloud-based software to the property and casualty insurance industry; and software, services, and technologies for foodservice operations.