DRW Securities LLC Cuts Stock Position in Roper Technologies, Inc. (NYSE:ROP)

DRW Securities LLC lessened its stake in shares of Roper Technologies, Inc. (NYSE:ROP) by 23.4% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 616 shares of the industrial products company’s stock after selling 188 shares during the period. DRW Securities LLC’s holdings in Roper Technologies were worth $343,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. New Covenant Trust Company N.A. purchased a new position in shares of Roper Technologies in the 1st quarter worth about $25,000. Fairscale Capital LLC bought a new stake in Roper Technologies during the 2nd quarter valued at about $28,000. Fortitude Family Office LLC purchased a new position in Roper Technologies in the third quarter worth about $28,000. Versant Capital Management Inc lifted its stake 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 worth $30,000 after buying an additional 20 shares in the last quarter. Finally, Valley Wealth Managers Inc. purchased a new stake in shares of Roper Technologies during the second quarter valued at approximately $31,000. 93.31% of the stock is owned by institutional investors.

Analyst Ratings Changes

ROP has been the topic of several analyst reports. Robert W. Baird upped their price objective on Roper Technologies from $635.00 to $652.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Jefferies Financial Group increased their price objective on Roper Technologies from $625.00 to $635.00 and gave the company a “buy” rating in a research report on Friday, August 16th. Royal Bank of Canada decreased their target price on Roper Technologies from $675.00 to $666.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Mizuho lifted 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, Truist Financial restated a “buy” rating and set a $665.00 price objective (up previously from $660.00) on shares of Roper Technologies in a research report 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’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $620.80.

Roper Technologies Stock Performance

Shares of ROP opened at $561.89 on Wednesday. Roper Technologies, Inc. has a 52 week low of $508.22 and a 52 week high of $579.10. The company has a quick ratio of 0.44, a current ratio of 0.48 and a debt-to-equity ratio of 0.41. The stock has a market cap of $60.25 billion, a price-to-earnings ratio of 31.20, a PEG ratio of 2.91 and a beta of 1.03. The business has a 50-day simple moving average of $552.66 and a two-hundred day simple moving average of $549.94.

Roper Technologies (NYSE:ROP) last released 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. The company had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.72 billion. Roper Technologies had a net margin of 21.78% and a return on equity of 10.73%. The firm’s revenue was up 11.7% compared to the same quarter last year. During the same quarter last year, the business earned $4.32 EPS. On average, analysts expect that Roper Technologies, Inc. will post 18.24 EPS for the current 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 issued a $0.825 dividend. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $3.30 annualized dividend and a yield of 0.59%. This is an increase from Roper Technologies’s previous quarterly dividend of $0.75. Roper Technologies’s dividend payout ratio is currently 21.95%.

Insiders Place Their Bets

In related news, Director Richard F. Wallman sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $550.00, for a total value of $550,000.00. Following the transaction, the director now directly owns 32,955 shares of the company’s stock, valued at approximately $18,125,250. The trade was a 2.95 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.87% of the stock is currently owned by company insiders.

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.