Pinnacle Financial Partners Inc Sells 250 Shares of Roper Technologies, Inc. (NYSE:ROP)

Pinnacle Financial Partners Inc decreased its stake in Roper Technologies, Inc. (NYSE:ROP) by 17.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,158 shares of the industrial products company’s stock after selling 250 shares during the period. Pinnacle Financial Partners Inc’s holdings in Roper Technologies were worth $644,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Ledyard National Bank increased its holdings in shares of Roper Technologies by 2.1% in the 3rd quarter. Ledyard National Bank now owns 896 shares of the industrial products company’s stock worth $499,000 after buying an additional 18 shares during the last quarter. Western Financial Corp CA raised its position in Roper Technologies by 1.1% in the 2nd quarter. Western Financial Corp CA now owns 1,727 shares of the industrial products company’s stock worth $973,000 after purchasing an additional 19 shares during the period. AMG National Trust Bank raised its position in Roper Technologies by 5.1% in the 2nd quarter. AMG National Trust Bank now owns 391 shares of the industrial products company’s stock worth $220,000 after purchasing an additional 19 shares during the period. Covestor Ltd raised its position in Roper Technologies by 50.0% in the 1st quarter. Covestor Ltd now owns 60 shares of the industrial products company’s stock worth $34,000 after purchasing an additional 20 shares during the period. Finally, Versant Capital Management Inc raised its position in Roper Technologies by 58.8% in the 2nd quarter. Versant Capital Management Inc now owns 54 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 20 shares during the period. Institutional investors own 93.31% of the company’s stock.

Insider Activity

In other news, Director Richard F. Wallman sold 1,000 shares of Roper Technologies stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $550.00, for a total transaction of $550,000.00. Following the sale, the director now owns 32,955 shares of the company’s stock, valued at approximately $18,125,250. The trade was a 2.95 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.87% of the company’s stock.

Roper Technologies Trading Down 1.1 %

Shares of ROP opened at $564.77 on Friday. The firm’s 50-day moving average price is $552.18 and its 200-day moving average price is $547.34. The firm has a market capitalization of $60.56 billion, a price-to-earnings ratio of 31.95, a PEG ratio of 2.98 and a beta of 1.03. The company has a current ratio of 0.48, a quick ratio of 0.44 and a debt-to-equity ratio of 0.41. Roper Technologies, Inc. has a 1-year low of $508.22 and a 1-year high of $579.10.

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

Roper Technologies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Friday, January 3rd will be paid a dividend of $0.825 per share. 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 dividend yield of 0.58%. Roper Technologies’s payout ratio is presently 21.95%.

Analyst Ratings Changes

A number of brokerages recently commented on ROP. Royal Bank of Canada decreased 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 report on Thursday, October 24th. Truist Financial reiterated a “buy” rating and issued a $665.00 target price (up previously from $660.00) on shares of Roper Technologies in a research report on Thursday, October 24th. Baird R W upgraded shares of Roper Technologies from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 25th. Oppenheimer decreased their target price on shares of Roper Technologies from $650.00 to $630.00 and set an “outperform” rating on the stock in a research report on Thursday, July 25th. Finally, Robert W. Baird raised their price target 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 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. Based on data from MarketBeat.com, the stock has a consensus 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.