Citigroup Inc. Has $106.05 Million Stake in Roper Technologies, Inc. (NYSE:ROP)

Citigroup Inc. raised its stake in Roper Technologies, Inc. (NYSE:ROP) by 17.6% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 190,587 shares of the industrial products company’s stock after buying an additional 28,555 shares during the quarter. Citigroup Inc.’s holdings in Roper Technologies were worth $106,050,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. New Covenant Trust Company N.A. bought a new stake in Roper Technologies in the 1st quarter worth about $25,000. Fairscale Capital LLC bought a new position in shares of Roper Technologies during the 2nd quarter worth approximately $28,000. Fortitude Family Office LLC purchased a new position in shares of Roper Technologies in the 3rd quarter worth approximately $28,000. Versant Capital Management Inc grew its holdings in shares of Roper Technologies by 58.8% in the second quarter. Versant Capital Management Inc now owns 54 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 20 shares in the last quarter. Finally, Valley Wealth Managers Inc. bought a new stake in Roper Technologies during the second quarter worth $31,000. Institutional investors own 93.31% of the company’s stock.

Insider Activity at Roper Technologies

In related news, Director Richard F. Wallman sold 1,000 shares of the business’s 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 transaction, the director now directly owns 32,955 shares in the company, valued at $18,125,250. The trade was a 2.95 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.87% of the stock is owned by corporate insiders.

Roper Technologies Stock Up 1.1 %

Roper Technologies stock opened at $560.14 on Friday. The firm has a market capitalization of $60.06 billion, a price-to-earnings ratio of 31.00, a P/E/G ratio of 2.89 and a beta of 1.03. The firm has a 50 day simple moving average of $552.43 and a 200 day simple moving average of $549.03. Roper Technologies, Inc. has a 1-year low of $508.22 and a 1-year 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 released its quarterly earnings data on Wednesday, October 23rd. The industrial products company reported $4.62 earnings per share (EPS) 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 company had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.72 billion. During the same period in the previous year, the company posted $4.32 EPS. The firm’s revenue for the quarter was up 11.7% compared to the same quarter last year. On average, analysts predict that Roper Technologies, Inc. will post 18.24 earnings per share for the current year.

Roper Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Friday, January 3rd will be paid a dividend of $0.825 per share. The ex-dividend date is Friday, January 3rd. This represents a $3.30 annualized dividend and a yield of 0.59%. This is a boost from Roper Technologies’s previous quarterly dividend of $0.75. Roper Technologies’s payout ratio is currently 21.95%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Truist Financial reaffirmed a “buy” rating and set a $665.00 target price (up from $660.00) on shares of Roper Technologies in a research report on Thursday, October 24th. Royal Bank of Canada decreased their price objective 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 boosted their target price on shares of Roper Technologies from $625.00 to $635.00 and gave the company a “buy” rating in a research note on Friday, August 16th. Mizuho raised their price target on shares of Roper Technologies from $530.00 to $565.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Finally, Robert W. Baird increased their price objective on Roper Technologies from $635.00 to $652.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company 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.