WealthPLAN Partners LLC Decreases Holdings in Roper Technologies, Inc. (NYSE:ROP)

WealthPLAN Partners LLC lowered its stake in shares of Roper Technologies, Inc. (NYSE:ROP) by 14.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,554 shares of the industrial products company’s stock after selling 602 shares during the period. WealthPLAN Partners LLC’s holdings in Roper Technologies were worth $1,978,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of ROP. Vanguard Group Inc. raised its stake in shares of Roper Technologies by 1.3% in the first quarter. Vanguard Group Inc. now owns 10,072,028 shares of the industrial products company’s stock valued at $5,648,796,000 after buying an additional 125,387 shares during the period. Principal Financial Group Inc. increased its holdings in Roper Technologies by 4.0% in the 2nd quarter. Principal Financial Group Inc. now owns 2,683,909 shares of the industrial products company’s stock worth $1,512,813,000 after acquiring an additional 102,199 shares during the last quarter. Mackenzie Financial Corp raised its stake in Roper Technologies by 3.1% in the 2nd quarter. Mackenzie Financial Corp now owns 1,119,023 shares of the industrial products company’s stock valued at $630,749,000 after acquiring an additional 33,544 shares during the period. Legal & General Group Plc lifted its holdings in Roper Technologies by 7.6% during the second quarter. Legal & General Group Plc now owns 914,499 shares of the industrial products company’s stock valued at $515,467,000 after purchasing an additional 64,565 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Roper Technologies by 4.4% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 805,757 shares of the industrial products company’s stock worth $451,901,000 after purchasing an additional 33,780 shares during the period. Hedge funds and other institutional investors own 93.31% of the company’s stock.

Roper Technologies Price Performance

Shares of Roper Technologies stock opened at $565.14 on Tuesday. The business’s 50-day moving average price is $551.68 and its 200-day moving average price is $546.91. The firm has a market capitalization of $60.60 billion, a PE ratio of 41.34, a price-to-earnings-growth ratio of 2.96 and a beta of 1.03. Roper Technologies, Inc. has a 12 month low of $508.22 and a 12 month high of $579.10. 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 (NYSE:ROP) last issued its earnings results on Wednesday, October 23rd. The industrial products company reported $4.62 EPS for the quarter, topping analysts’ consensus estimates of $4.53 by $0.09. Roper Technologies had a net margin of 21.78% and a return on equity of 10.73%. The company had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.72 billion. During the same quarter last year, the company earned $4.32 EPS. The firm’s revenue was up 11.7% compared to the same quarter last year. Sell-side analysts forecast that Roper Technologies, Inc. will post 18.24 EPS 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 represents a $3.30 annualized dividend and a dividend yield of 0.58%. This is an increase from Roper Technologies’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend is Friday, January 3rd. Roper Technologies’s payout ratio is presently 24.14%.

Wall Street Analyst Weigh In

Several research firms recently commented on ROP. Mizuho raised their price objective on shares of Roper Technologies from $530.00 to $565.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Royal Bank of Canada cut their target price on Roper Technologies from $675.00 to $666.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Truist Financial reaffirmed a “buy” rating and set a $665.00 price objective (up previously from $660.00) on shares of Roper Technologies in a research note on Thursday, October 24th. Oppenheimer lowered 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 note on Thursday, July 25th. Finally, Baird R W upgraded Roper Technologies from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 25th. 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, the company presently has a consensus rating of “Moderate Buy” and an average price target of $620.80.

Insider Activity at Roper Technologies

In other Roper Technologies news, Director Richard F. Wallman sold 1,000 shares of the firm’s stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $550.00, for a total value of $550,000.00. Following the sale, the director now owns 32,955 shares of the company’s stock, valued at $18,125,250. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.87% of the stock is currently owned by company insiders.

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.