Novare Capital Management LLC Purchases 986 Shares of Roper Technologies, Inc. (NYSE:ROP)

Novare Capital Management LLC increased its holdings in Roper Technologies, Inc. (NYSE:ROP) by 2.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,745 shares of the industrial products company’s stock after purchasing an additional 986 shares during the quarter. Roper Technologies makes up approximately 1.7% of Novare Capital Management LLC’s holdings, making the stock its 15th largest holding. Novare Capital Management LLC’s holdings in Roper Technologies were worth $19,622,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. State Street Corp increased its stake 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 buying an additional 132,575 shares during the period. Geode Capital Management LLC increased its position in Roper Technologies by 2.1% during the 3rd quarter. Geode Capital Management LLC now owns 2,447,026 shares of the industrial products company’s stock valued at $1,357,162,000 after purchasing an additional 51,131 shares during the period. Legal & General Group Plc lifted its position 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 purchasing an additional 64,565 shares during the period. Wellington Management Group LLP boosted its stake 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 valued at $410,977,000 after purchasing an additional 345,268 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of Roper Technologies by 7.5% during the third quarter. JPMorgan Chase & Co. now owns 662,033 shares of the industrial products company’s stock valued at $368,382,000 after buying an additional 45,947 shares during the period. Hedge funds and other institutional investors own 93.31% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Royal Bank of Canada cut their price objective on Roper Technologies from $675.00 to $666.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Barclays dropped their price target on Roper Technologies from $569.00 to $562.00 and set an “underweight” rating on the stock in a research report on Wednesday, January 8th. Truist Financial reissued 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. Robert W. Baird increased their price target on shares of Roper Technologies from $635.00 to $652.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Finally, Mizuho upped their price objective on shares of Roper Technologies from $530.00 to $565.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, five have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Roper Technologies has a consensus rating of “Moderate Buy” and an average price target of $624.38.

Roper Technologies Stock Down 0.4 %

ROP stock opened at $531.37 on Friday. 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 1-year low of $499.47 and a 1-year high of $580.09. The stock has a market capitalization of $56.98 billion, a P/E ratio of 29.89, a P/E/G ratio of 2.55 and a beta of 1.04. The business has a fifty day moving average price of $535.54 and a 200-day moving average price of $544.96.

Roper Technologies (NYSE:ROP) last posted 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 business had revenue of $1.75 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.32 EPS. Equities analysts forecast that Roper Technologies, Inc. will post 18.29 earnings per share for the current fiscal year.

Roper Technologies Increases Dividend

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

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.