Eagle Ridge Investment Management Decreases Stock Position in Roper Technologies, Inc. (NYSE:ROP)

Eagle Ridge Investment Management reduced its holdings in shares of Roper Technologies, Inc. (NYSE:ROP) by 13.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,764 shares of the industrial products company’s stock after selling 1,034 shares during the quarter. Eagle Ridge Investment Management’s holdings in Roper Technologies were worth $3,764,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. New Covenant Trust Company N.A. acquired a new position in shares of Roper Technologies during the 1st quarter worth approximately $25,000. Fairscale Capital LLC purchased a new position in Roper Technologies during the second quarter worth $28,000. Versant Capital Management Inc raised its holdings 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 acquiring an additional 20 shares during the last quarter. Valley Wealth Managers Inc. purchased a new stake in shares of Roper Technologies in the second quarter valued at $31,000. Finally, Covestor Ltd boosted its stake 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 valued at $34,000 after acquiring an additional 20 shares during the last quarter. Institutional investors and hedge funds own 93.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on ROP shares. Truist Financial reissued a “buy” rating and issued a $665.00 target price (up previously from $660.00) on shares of Roper Technologies in a research note on Thursday. Oppenheimer reduced their price objective on shares of Roper Technologies from $650.00 to $630.00 and set an “outperform” rating on the stock in a research note on Thursday, July 25th. Barclays raised their target price on shares of Roper Technologies from $611.00 to $625.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 10th. Robert W. Baird upped their target price on Roper Technologies from $635.00 to $652.00 and gave the company an “outperform” rating in a research note on Thursday. Finally, Royal Bank of Canada reduced their target price on Roper Technologies from $675.00 to $666.00 and set an “outperform” rating on the stock in a research report on Thursday. Three investment 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. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $620.80.

Roper Technologies Stock Down 0.2 %

Shares of Roper Technologies stock opened at $542.10 on Friday. Roper Technologies, Inc. has a twelve month low of $474.46 and a twelve month high of $579.10. The stock has a market cap of $58.11 billion, a price-to-earnings ratio of 40.16, a price-to-earnings-growth ratio of 2.89 and a beta of 1.02. The company has a current ratio of 0.53, a quick ratio of 0.48 and a debt-to-equity ratio of 0.38. The company has a fifty day moving average price of $551.48 and a 200 day moving average price of $545.46.

Roper Technologies (NYSE:ROP) last issued its earnings results on Wednesday, October 23rd. The industrial products company reported $4.62 earnings per share for the quarter, topping the consensus estimate of $4.53 by $0.09. The company 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 10.77% and a net margin of 22.14%. The company’s revenue was up 11.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.32 earnings per share. Equities research analysts forecast that Roper Technologies, Inc. will post 18.16 earnings per share for the current fiscal year.

Roper Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 21st. Stockholders of record on Tuesday, October 8th were paid a dividend of $0.75 per share. The ex-dividend date of this dividend was Tuesday, October 8th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 0.55%. Roper Technologies’s dividend payout ratio is currently 22.22%.

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.