Raymond James Trust N.A. Has $3.14 Million Stock Position in Roper Technologies, Inc. (NYSE:ROP)

Raymond James Trust N.A. lowered its position in shares of Roper Technologies, Inc. (NYSE:ROP) by 0.8% during the third quarter, Holdings Channel reports. The fund owned 5,649 shares of the industrial products company’s stock after selling 46 shares during the quarter. Raymond James Trust N.A.’s holdings in Roper Technologies were worth $3,143,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ROP. Ledyard National Bank raised its position in Roper Technologies by 2.1% during the third quarter. Ledyard National Bank now owns 896 shares of the industrial products company’s stock valued at $499,000 after buying an additional 18 shares during the period. Western Financial Corp CA grew its holdings in shares of Roper Technologies by 1.1% during the 2nd quarter. Western Financial Corp CA now owns 1,727 shares of the industrial products company’s stock valued at $973,000 after acquiring an additional 19 shares in the last quarter. AMG National Trust Bank increased its stake in shares of Roper Technologies by 5.1% in the second quarter. AMG National Trust Bank now owns 391 shares of the industrial products company’s stock worth $220,000 after acquiring an additional 19 shares during the last quarter. Covestor Ltd raised its holdings in shares of Roper Technologies by 50.0% during the first quarter. Covestor Ltd now owns 60 shares of the industrial products company’s stock worth $34,000 after acquiring an additional 20 shares in the last quarter. Finally, Versant Capital Management Inc grew its stake in 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 purchasing an additional 20 shares in the last quarter. Institutional investors and hedge funds own 93.31% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ROP. Robert W. Baird raised 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. Jefferies Financial Group raised their price objective on shares of Roper Technologies from $625.00 to $635.00 and gave the company a “buy” rating in a research report on Friday, August 16th. Mizuho boosted 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. Truist Financial restated a “buy” rating and set a $665.00 price target (up previously from $660.00) on shares of Roper Technologies in a research note on Thursday, October 24th. Finally, Royal Bank of Canada reduced their price objective on shares of Roper Technologies from $675.00 to $666.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Three 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 stock. According to MarketBeat.com, the stock 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 company’s stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $550.00, for a total transaction of $550,000.00. Following the sale, the director now directly owns 32,955 shares of the company’s stock, valued at approximately $18,125,250. This represents a 2.95 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.87% of the stock is currently owned by corporate insiders.

Roper Technologies Stock Performance

Shares of ROP opened at $560.14 on Friday. The company has a market capitalization of $60.06 billion, a PE ratio of 31.00, a price-to-earnings-growth ratio of 2.89 and a beta of 1.03. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.48 and a quick ratio of 0.44. Roper Technologies, Inc. has a one year low of $508.22 and a one year high of $579.10. The company’s fifty day moving average price is $552.43 and its 200 day moving average price is $549.03.

Roper Technologies (NYSE:ROP) last posted its quarterly earnings data 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 return on equity of 10.73% and a net margin of 21.78%. The business 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 earnings per share. The firm’s revenue for the quarter was up 11.7% on a year-over-year basis. As a group, analysts expect that Roper Technologies, Inc. will post 18.24 earnings per share for the current year.

Roper Technologies Increases Dividend

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

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.