Montecito Bank & Trust Decreases Stock Position in Roper Technologies, Inc. (NYSE:ROP)

Montecito Bank & Trust decreased its stake in shares of Roper Technologies, Inc. (NYSE:ROP) by 4.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 768 shares of the industrial products company’s stock after selling 39 shares during the period. Montecito Bank & Trust’s holdings in Roper Technologies were worth $399,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wellington Management Group LLP raised its position in shares of Roper Technologies by 87.8% during the 3rd quarter. Wellington Management Group LLP now owns 738,582 shares of the industrial products company’s stock worth $410,977,000 after purchasing an additional 345,268 shares during the period. Loomis Sayles & Co. L P lifted its stake in Roper Technologies by 25.8% in the third quarter. Loomis Sayles & Co. L P now owns 648,427 shares of the industrial products company’s stock valued at $360,811,000 after buying an additional 132,913 shares during the last quarter. State Street Corp boosted its holdings in shares of Roper Technologies by 2.9% during the third quarter. State Street Corp now owns 4,730,427 shares of the industrial products company’s stock valued at $2,632,199,000 after acquiring an additional 132,575 shares during the period. Caisse DE Depot ET Placement DU Quebec grew its position in shares of Roper Technologies by 37.4% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 427,943 shares of the industrial products company’s stock worth $238,125,000 after acquiring an additional 116,523 shares during the last quarter. Finally, Legal & General Group Plc increased its holdings in shares of Roper Technologies by 7.6% in the 2nd quarter. Legal & General Group Plc now owns 914,499 shares of the industrial products company’s stock worth $515,467,000 after acquiring an additional 64,565 shares during the period. 93.31% of the stock is owned by institutional investors.

Roper Technologies Price Performance

Shares of NYSE:ROP opened at $531.37 on Friday. The company has a market capitalization of $56.98 billion, a PE ratio of 29.89, a price-to-earnings-growth ratio of 2.55 and a beta of 1.04. 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 stock has a fifty day moving average of $535.88 and a 200-day moving average of $545.13. Roper Technologies, Inc. has a one year low of $499.47 and a one year high of $580.09.

Roper Technologies (NYSE:ROP) last announced its earnings results on Wednesday, October 23rd. The industrial products company reported $4.62 EPS for the quarter, beating the consensus estimate of $4.53 by $0.09. The business had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.72 billion. Roper Technologies had a return on equity of 10.73% and a net margin of 21.78%. Roper Technologies’s revenue was up 11.7% compared to the same quarter last year. During the same period in the prior year, the business posted $4.32 earnings per share. As a group, equities analysts anticipate that Roper Technologies, Inc. will post 18.29 EPS for the current fiscal year.

Roper Technologies Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Friday, January 3rd were given a $0.825 dividend. This represents a $3.30 annualized dividend and a dividend yield of 0.62%. The ex-dividend date of this dividend was Friday, January 3rd. This is an increase from Roper Technologies’s previous quarterly dividend of $0.75. Roper Technologies’s dividend payout ratio is 24.14%.

Analyst Upgrades and Downgrades

ROP has been the subject of several recent analyst reports. Mizuho upped their target price on shares of Roper Technologies from $530.00 to $565.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Oppenheimer assumed coverage on shares of Roper Technologies in a research note on Monday, December 23rd. They issued an “outperform” rating and a $630.00 price target for the company. Robert W. Baird raised their price objective on shares of Roper Technologies from $635.00 to $652.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Truist Financial restated a “buy” rating and issued a $665.00 target price (up from $660.00) on shares of Roper Technologies in a research report on Thursday, October 24th. Finally, Barclays dropped their price objective on Roper Technologies from $569.00 to $562.00 and set an “underweight” rating on the stock in a research note on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, five have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $624.38.

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.