The Manufacturers Life Insurance Company Has $201.53 Million Position in Roper Technologies, Inc. (NYSE:ROP)

The Manufacturers Life Insurance Company lifted its stake in Roper Technologies, Inc. (NYSE:ROP) by 0.1% in the third quarter, HoldingsChannel.com reports. The firm owned 362,164 shares of the industrial products company’s stock after purchasing an additional 526 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Roper Technologies were worth $201,528,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in ROP. Bank of Montreal Can lifted its stake in Roper Technologies by 2.5% in the third quarter. Bank of Montreal Can now owns 347,365 shares of the industrial products company’s stock valued at $192,371,000 after buying an additional 8,478 shares in the last quarter. Private Trust Co. NA raised its position in shares of Roper Technologies by 8.3% in the third quarter. Private Trust Co. NA now owns 352 shares of the industrial products company’s stock valued at $196,000 after purchasing an additional 27 shares during the period. Loomis Sayles & Co. L P lifted its holdings in Roper Technologies by 25.8% during the 3rd quarter. Loomis Sayles & Co. L P now owns 648,427 shares of the industrial products company’s stock worth $360,811,000 after purchasing an additional 132,913 shares during the last quarter. Independent Advisor Alliance boosted its holdings in Roper Technologies by 8.6% in the 3rd quarter. Independent Advisor Alliance now owns 3,290 shares of the industrial products company’s stock valued at $1,831,000 after purchasing an additional 261 shares during the period. Finally, Harvest Fund Management Co. Ltd increased its position in shares of Roper Technologies by 52.5% in the third quarter. Harvest Fund Management Co. Ltd now owns 4,938 shares of the industrial products company’s stock worth $2,747,000 after purchasing an additional 1,699 shares during the period. 93.31% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Roper Technologies

In related news, Director Richard F. Wallman sold 1,000 shares of the company’s stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $550.00, for a total value of $550,000.00. Following the transaction, the director now owns 32,955 shares in the company, valued at $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 available at this hyperlink. 0.87% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have recently commented on ROP. Jefferies Financial Group increased their price target on Roper Technologies from $625.00 to $635.00 and gave the company a “buy” rating in a research note on Friday, August 16th. Royal Bank of Canada dropped their price target on Roper Technologies from $675.00 to $666.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. 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, October 24th. Mizuho boosted their price target on shares of Roper Technologies from $530.00 to $565.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Finally, Robert W. Baird lifted their price target on Roper Technologies from $635.00 to $652.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Three analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $620.80.

Roper Technologies Stock Up 0.7 %

NYSE ROP opened at $561.89 on Wednesday. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.48 and a quick ratio of 0.44. The stock has a market capitalization of $60.25 billion, a PE ratio of 31.20, a PEG ratio of 2.91 and a beta of 1.03. The business’s 50-day moving average is $552.66 and its 200 day moving average is $549.94. 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 quarterly earnings results on Wednesday, October 23rd. The industrial products company reported $4.62 earnings per share (EPS) for the quarter, beating the consensus estimate 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 in the previous year, the company earned $4.32 earnings per share. Roper Technologies’s quarterly revenue was up 11.7% on a year-over-year basis. Sell-side analysts forecast that Roper Technologies, Inc. will post 18.24 earnings per share for the current year.

Roper Technologies Increases Dividend

The firm also recently declared 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 0.59%. This is a positive change from Roper Technologies’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend is Friday, January 3rd. Roper Technologies’s dividend payout ratio (DPR) is presently 21.95%.

Roper Technologies Company 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.