1620 Investment Advisors Inc. Sells 163 Shares of Roper Technologies, Inc. (NYSE:ROP)

1620 Investment Advisors Inc. trimmed its position in Roper Technologies, Inc. (NYSE:ROP) by 50.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 163 shares of the industrial products company’s stock after selling 163 shares during the quarter. 1620 Investment Advisors Inc.’s holdings in Roper Technologies were worth $91,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in ROP. Diversified Trust Co purchased a new stake in shares of Roper Technologies during the 1st quarter worth approximately $206,000. State of Alaska Department of Revenue raised its stake in Roper Technologies by 0.4% during the first quarter. State of Alaska Department of Revenue now owns 11,587 shares of the industrial products company’s stock valued at $6,498,000 after purchasing an additional 50 shares in the last quarter. Norden Group LLC purchased a new stake in Roper Technologies during the first quarter valued at $1,662,000. First Trust Direct Indexing L.P. lifted its position in Roper Technologies by 18.7% during the first quarter. First Trust Direct Indexing L.P. now owns 3,060 shares of the industrial products company’s stock valued at $1,716,000 after purchasing an additional 481 shares during the last quarter. Finally, FORVIS Wealth Advisors LLC grew its stake in shares of Roper Technologies by 6.6% in the 1st quarter. FORVIS Wealth Advisors LLC now owns 6,018 shares of the industrial products company’s stock worth $3,375,000 after buying an additional 373 shares in the last quarter. 93.31% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Roper Technologies

In other news, Director Richard F. Wallman sold 1,000 shares of the stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $550.00, for a total transaction of $550,000.00. Following the transaction, the director now directly owns 32,955 shares in the company, valued at approximately $18,125,250. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.87% of the company’s stock.

Roper Technologies Stock Performance

Shares of NYSE:ROP opened at $547.23 on Thursday. 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 cap of $58.67 billion, a PE ratio of 40.03, a price-to-earnings-growth ratio of 2.83 and a beta of 1.02. The firm’s 50 day simple moving average is $551.11 and its 200-day simple moving average is $545.65. Roper Technologies, Inc. has a one year low of $483.56 and a one year high of $579.10.

Roper Technologies (NYSE:ROP) last issued 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. 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 analyst estimates of $1.72 billion. During the same period in the previous year, the company posted $4.32 EPS. Roper Technologies’s revenue was up 11.7% on a year-over-year basis. As a group, equities analysts predict that Roper Technologies, Inc. will post 18.23 EPS for the current year.

Roper Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, October 21st. Shareholders of record on Tuesday, October 8th were issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 0.55%. The ex-dividend date of this dividend was Tuesday, October 8th. Roper Technologies’s payout ratio is 21.95%.

Analysts Set New Price Targets

ROP has been the subject of a number of analyst reports. Royal Bank of Canada lowered their price target on shares of Roper Technologies from $675.00 to $666.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Jefferies Financial Group raised their price objective on Roper Technologies from $625.00 to $635.00 and gave the company a “buy” rating in a research note on Friday, August 16th. Barclays boosted their target price on Roper Technologies from $611.00 to $625.00 and gave the company an “overweight” rating in a research report on Wednesday, July 10th. Truist Financial restated a “buy” rating and issued a $665.00 price target (up from $660.00) on shares of Roper Technologies in a research report on Thursday, October 24th. Finally, Oppenheimer cut their price objective 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. Three research analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Roper Technologies currently has an average rating of “Moderate Buy” and an average price target 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.