Chevy Chase Trust Holdings LLC Decreases Stake in Roper Technologies, Inc. (NYSE:ROP)

Chevy Chase Trust Holdings LLC lessened its position in shares of Roper Technologies, Inc. (NYSE:ROP) by 1.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 188,235 shares of the industrial products company’s stock after selling 2,879 shares during the quarter. Chevy Chase Trust Holdings LLC owned about 0.18% of Roper Technologies worth $104,742,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in ROP. Benjamin Edwards Inc. boosted its position in shares of Roper Technologies by 1,792.8% during the 3rd quarter. Benjamin Edwards Inc. now owns 1,571 shares of the industrial products company’s stock valued at $874,000 after acquiring an additional 1,488 shares during the last quarter. FSA Wealth Management LLC purchased a new stake in shares of Roper Technologies during the 3rd quarter valued at about $103,000. Erste Asset Management GmbH purchased a new stake in shares of Roper Technologies during the 3rd quarter valued at about $2,769,000. Wasatch Advisors LP lifted its holdings in shares of Roper Technologies by 9.2% in the 3rd quarter. Wasatch Advisors LP now owns 7,258 shares of the industrial products company’s stock valued at $4,039,000 after acquiring an additional 613 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec boosted its stake in shares of Roper Technologies by 37.4% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 427,943 shares of the industrial products company’s stock valued at $238,125,000 after purchasing an additional 116,523 shares during the period. Institutional investors own 93.31% of the company’s stock.

Insider Buying and Selling at Roper Technologies

In related news, Director Richard F. Wallman sold 1,000 shares of Roper Technologies stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $550.00, for a total transaction of $550,000.00. Following the completion of the sale, the director now 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.87% of the company’s stock.

Roper Technologies Price Performance

Shares of ROP stock opened at $563.60 on Monday. Roper Technologies, Inc. has a fifty-two week low of $508.22 and a fifty-two week high of $579.10. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.44 and a current ratio of 0.48. The firm has a market capitalization of $60.43 billion, a price-to-earnings ratio of 41.44, a PEG ratio of 2.96 and a beta of 1.03. The stock’s 50-day simple moving average is $553.18 and its 200-day simple moving average is $550.80.

Roper Technologies (NYSE:ROP) last released its 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. The company had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.72 billion. Roper Technologies had a net margin of 21.78% and a return on equity of 10.73%. Roper Technologies’s revenue was up 11.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.32 EPS. As a group, equities analysts forecast that Roper Technologies, Inc. will post 18.24 earnings per share for the current fiscal year.

Roper Technologies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Friday, January 3rd will be paid a $0.825 dividend. This is a positive change from Roper Technologies’s previous quarterly dividend of $0.75. The ex-dividend date is Friday, January 3rd. This represents a $3.30 dividend on an annualized basis and a yield of 0.59%. Roper Technologies’s dividend payout ratio (DPR) is 21.95%.

Wall Street Analyst Weigh In

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

Roper Technologies 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.