Essex Financial Services Inc. Decreases Holdings in Roper Technologies, Inc. (NYSE:ROP)

Essex Financial Services Inc. trimmed its stake in Roper Technologies, Inc. (NYSE:ROP) by 1.4% during the third quarter, Holdings Channel reports. The fund owned 9,239 shares of the industrial products company’s stock after selling 134 shares during the period. Essex Financial Services Inc.’s holdings in Roper Technologies were worth $5,101,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Wealthcare Advisory Partners LLC increased its position in Roper Technologies by 6.8% in the first quarter. Wealthcare Advisory Partners LLC now owns 425 shares of the industrial products company’s stock worth $238,000 after buying an additional 27 shares during the last quarter. Independence Bank of Kentucky increased its holdings in Roper Technologies by 114.0% in the 1st quarter. Independence Bank of Kentucky now owns 122 shares of the industrial products company’s stock worth $68,000 after acquiring an additional 65 shares during the last quarter. Hennion & Walsh Asset Management Inc. raised its stake in Roper Technologies by 47.3% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 3,895 shares of the industrial products company’s stock valued at $2,184,000 after acquiring an additional 1,251 shares during the period. SteelPeak Wealth LLC lifted its holdings in Roper Technologies by 6.3% during the first quarter. SteelPeak Wealth LLC now owns 3,124 shares of the industrial products company’s stock valued at $1,752,000 after purchasing an additional 186 shares during the last quarter. Finally, Diversified Trust Co bought a new position in Roper Technologies during the first quarter worth about $206,000. 93.31% of the stock is owned by institutional investors.

Roper Technologies Price Performance

Roper Technologies stock opened at $542.00 on Friday. The business has a 50-day simple moving average of $551.26 and a 200 day simple moving average of $545.44. Roper Technologies, Inc. has a 52 week low of $474.46 and a 52 week high of $579.10. The stock has a market cap of $58.10 billion, a price-to-earnings ratio of 40.15, a PEG ratio of 2.89 and a beta of 1.02. The company has a quick ratio of 0.48, a current ratio of 0.53 and a debt-to-equity ratio of 0.38.

Roper Technologies (NYSE:ROP) last issued its quarterly earnings data on Wednesday, October 23rd. The industrial products company reported $4.62 EPS for the quarter, topping the consensus estimate of $4.53 by $0.09. The company had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.72 billion. Roper Technologies had a return on equity of 10.77% and a net margin of 22.14%. Roper Technologies’s revenue was up 11.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $4.32 earnings per share. On average, research analysts forecast that Roper Technologies, Inc. will post 18.16 earnings per share for the current fiscal year.

Roper Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, October 21st. Stockholders of record on Tuesday, October 8th were issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date of this dividend was Tuesday, October 8th. Roper Technologies’s payout ratio is 22.22%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on ROP. Truist Financial reissued a “buy” rating and issued a $665.00 price target (up previously from $660.00) on shares of Roper Technologies in a research report on Thursday. Baird R W upgraded Roper Technologies from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 25th. Jefferies Financial Group lifted their price target on Roper Technologies from $625.00 to $635.00 and gave the company a “buy” rating in a research report on Friday, August 16th. Barclays boosted their price objective on Roper Technologies from $611.00 to $625.00 and gave the company an “overweight” rating in a research note on Wednesday, July 10th. Finally, Mizuho raised their target price on Roper Technologies from $530.00 to $565.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Three investment 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 company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $620.80.

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.