MetLife Investment Management LLC Reduces Stock Holdings in Roper Technologies, Inc. (NYSE:ROP)

MetLife Investment Management LLC reduced its position in shares of Roper Technologies, Inc. (NYSE:ROP) by 2.4% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 27,869 shares of the industrial products company’s stock after selling 680 shares during the quarter. MetLife Investment Management LLC’s holdings in Roper Technologies were worth $15,507,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. New Covenant Trust Company N.A. purchased a new stake in Roper Technologies during the first quarter valued at approximately $25,000. Swedbank AB purchased a new stake in shares of Roper Technologies in the 1st quarter worth $43,851,000. Atria Investments Inc raised its holdings in Roper Technologies by 1.8% in the 1st quarter. Atria Investments Inc now owns 12,218 shares of the industrial products company’s stock worth $6,853,000 after purchasing an additional 211 shares during the period. Cetera Investment Advisers lifted its position in Roper Technologies by 201.6% during the first quarter. Cetera Investment Advisers now owns 20,340 shares of the industrial products company’s stock valued at $11,408,000 after purchasing an additional 13,597 shares in the last quarter. Finally, Cetera Advisors LLC grew its holdings in Roper Technologies by 4.7% during the first quarter. Cetera Advisors LLC now owns 5,603 shares of the industrial products company’s stock valued at $3,142,000 after purchasing an additional 253 shares during the period. Hedge funds and other institutional investors own 93.31% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on ROP. Truist Financial reaffirmed a “buy” rating and issued a $665.00 price objective (up previously from $660.00) on shares of Roper Technologies in a research note on Thursday, October 24th. Jefferies Financial Group lifted their price target on shares of Roper Technologies from $625.00 to $635.00 and gave the company a “buy” rating in a report on Friday, August 16th. Mizuho increased their price objective on shares of Roper Technologies from $530.00 to $565.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Royal Bank of Canada lowered their target price on shares of Roper Technologies from $675.00 to $666.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Finally, Robert W. Baird upped their target price on shares of Roper Technologies from $635.00 to $652.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Three equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $620.80.

Roper Technologies Stock Up 0.4 %

Shares of ROP stock opened at $564.35 on Thursday. The company’s fifty day simple moving average is $552.94 and its two-hundred day simple moving average is $550.04. Roper Technologies, Inc. has a 52 week low of $508.22 and a 52 week high of $579.10. The stock has a market cap of $60.52 billion, a P/E ratio of 41.28, a PEG ratio of 2.91 and a beta of 1.03. The company has a quick ratio of 0.44, a current ratio of 0.48 and a debt-to-equity ratio of 0.41.

Roper Technologies (NYSE:ROP) last announced its quarterly earnings results on Wednesday, October 23rd. The industrial products company reported $4.62 EPS for the quarter, beating analysts’ consensus estimates of $4.53 by $0.09. Roper Technologies had a return on equity of 10.73% and a net margin of 21.78%. The company had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.72 billion. During the same period in the prior year, the company earned $4.32 earnings per share. The firm’s revenue was up 11.7% on a year-over-year basis. Analysts predict 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. Investors of record on Friday, January 3rd will be given a $0.825 dividend. This represents a $3.30 annualized dividend and a yield of 0.58%. The ex-dividend date is Friday, January 3rd. This is a boost from Roper Technologies’s previous quarterly dividend of $0.75. Roper Technologies’s payout ratio is currently 21.95%.

Insider Activity at Roper Technologies

In other Roper Technologies news, Director Richard F. Wallman sold 1,000 shares of the business’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. The trade was a 2.95 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.87% of the stock is owned by insiders.

About Roper Technologies

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.