Meridian Financial Partners LLC Increases Stake in Roper Technologies, Inc. (NYSE:ROP)

Meridian Financial Partners LLC raised its holdings in shares of Roper Technologies, Inc. (NYSE:ROP) by 1.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,052 shares of the industrial products company’s stock after buying an additional 20 shares during the quarter. Meridian Financial Partners LLC’s holdings in Roper Technologies were worth $1,067,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. PNC Financial Services Group Inc. grew its stake in Roper Technologies by 5.4% during the 3rd quarter. PNC Financial Services Group Inc. now owns 34,652 shares of the industrial products company’s stock valued at $19,282,000 after acquiring an additional 1,789 shares in the last quarter. Synovus Financial Corp lifted its stake in Roper Technologies by 19.6% in the 3rd quarter. Synovus Financial Corp now owns 5,867 shares of the industrial products company’s stock worth $3,265,000 after purchasing an additional 961 shares in the last quarter. Douglas Lane & Associates LLC boosted its holdings in shares of Roper Technologies by 18.9% during the 4th quarter. Douglas Lane & Associates LLC now owns 109,656 shares of the industrial products company’s stock worth $57,005,000 after purchasing an additional 17,466 shares during the last quarter. Citigroup Inc. grew its position in shares of Roper Technologies by 17.6% in the third quarter. Citigroup Inc. now owns 190,587 shares of the industrial products company’s stock valued at $106,050,000 after purchasing an additional 28,555 shares in the last quarter. Finally, Nordea Investment Management AB increased its holdings in shares of Roper Technologies by 8.5% in the fourth quarter. Nordea Investment Management AB now owns 538,678 shares of the industrial products company’s stock valued at $280,113,000 after purchasing an additional 42,016 shares during the last quarter. 93.31% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on ROP shares. Oppenheimer started coverage on Roper Technologies in a research note on Monday, December 23rd. They set an “outperform” rating and a $630.00 price objective on the stock. Truist Financial reissued a “buy” rating and set a $665.00 price target (up previously from $660.00) on shares of Roper Technologies in a research report on Thursday, October 24th. Robert W. Baird raised their price objective on shares of Roper Technologies from $635.00 to $652.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Mizuho lifted their target price 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, Barclays dropped their price target on shares of Roper Technologies from $569.00 to $562.00 and set an “underweight” rating for the company in a research note on Wednesday, January 8th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, six have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Roper Technologies presently has an average rating of “Moderate Buy” and a consensus price target of $623.33.

Insider Buying and Selling at Roper Technologies

In other news, Director Richard F. Wallman sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $550.00, for a total value of $550,000.00. Following the completion of the transaction, the director now owns 32,955 shares of the company’s stock, valued at approximately $18,125,250. This trade represents a 2.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.87% of the stock is currently owned by corporate insiders.

Roper Technologies Price Performance

Shares of ROP opened at $510.69 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 cap of $54.76 billion, a PE ratio of 37.36, a P/E/G ratio of 2.84 and a beta of 1.04. The firm has a 50-day simple moving average of $541.68 and a two-hundred day simple moving average of $546.68. Roper Technologies, Inc. has a 1-year low of $499.47 and a 1-year high of $580.09.

Roper Technologies (NYSE:ROP) last released its quarterly 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. 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 analysts’ expectations of $1.72 billion. During the same period in the prior year, the firm earned $4.32 earnings per share. The firm’s revenue was up 11.7% compared to the same quarter last year. As a group, analysts forecast that Roper Technologies, Inc. will post 18.26 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 dividend of $0.825 per share. This represents a $3.30 dividend on an annualized basis and a yield of 0.65%. 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. Roper Technologies’s dividend payout ratio (DPR) is 24.14%.

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.