Port Capital LLC Boosts Stock Holdings in Roper Technologies, Inc. (NYSE:ROP)

Port Capital LLC increased its stake in Roper Technologies, Inc. (NYSE:ROP) by 1.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 73,013 shares of the industrial products company’s stock after acquiring an additional 1,279 shares during the period. Roper Technologies comprises about 1.8% of Port Capital LLC’s holdings, making the stock its 27th largest holding. Port Capital LLC owned approximately 0.07% of Roper Technologies worth $40,627,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Ledyard National Bank lifted its holdings in shares of Roper Technologies by 2.1% in the 3rd quarter. Ledyard National Bank now owns 896 shares of the industrial products company’s stock worth $499,000 after acquiring an additional 18 shares during the last quarter. Western Financial Corp CA boosted its position in shares of Roper Technologies by 1.1% during the second quarter. Western Financial Corp CA now owns 1,727 shares of the industrial products company’s stock valued at $973,000 after buying an additional 19 shares during the period. AMG National Trust Bank increased its stake in 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 purchasing an additional 19 shares during the period. Cromwell Holdings LLC lifted its holdings in Roper Technologies by 6.8% during the 3rd quarter. Cromwell Holdings LLC now owns 332 shares of the industrial products company’s stock valued at $185,000 after buying an additional 21 shares in the last quarter. Finally, Hibernia Wealth Partners LLC boosted its holdings in shares of Roper Technologies by 4.2% in the third quarter. Hibernia Wealth Partners LLC now owns 522 shares of the industrial products company’s stock valued at $291,000 after purchasing an additional 21 shares during the period. 93.31% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Royal Bank of Canada cut their target price on shares of Roper Technologies from $675.00 to $666.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Mizuho boosted their price objective 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. Truist Financial restated a “buy” rating and issued a $665.00 target price (up from $660.00) on shares of Roper Technologies in a research note on Thursday, October 24th. Jefferies Financial Group boosted their target price on Roper Technologies from $625.00 to $635.00 and gave the stock a “buy” rating in a research note on Friday, August 16th. Finally, Robert W. Baird increased their price target on Roper Technologies from $635.00 to $652.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Three investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $620.80.

Roper Technologies Stock Performance

Shares of NYSE ROP opened at $566.86 on Wednesday. The company’s fifty day moving average price is $553.70 and its 200 day moving average price is $551.18. Roper Technologies, Inc. has a 1 year low of $508.22 and a 1 year high of $579.10. The company has a market capitalization of $60.78 billion, a PE ratio of 41.47, a price-to-earnings-growth ratio of 2.97 and a beta of 1.02. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.44 and a current ratio of 0.48.

Roper Technologies (NYSE:ROP) last announced its quarterly earnings results on Wednesday, October 23rd. The industrial products company reported $4.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.53 by $0.09. Roper Technologies had a net margin of 21.78% and a return on equity of 10.73%. The firm had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.72 billion. During the same period in the prior year, the firm posted $4.32 earnings per share. The firm’s quarterly revenue was up 11.7% compared to the same quarter last year. On average, research analysts predict that Roper Technologies, Inc. will post 18.24 earnings per share for the current year.

Roper Technologies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Friday, January 3rd will be given a $0.825 dividend. This is a positive change from Roper Technologies’s previous quarterly dividend of $0.75. The ex-dividend date is Friday, January 3rd. This represents a $3.30 annualized dividend and a dividend yield of 0.58%. Roper Technologies’s dividend payout ratio (DPR) is 21.95%.

Insider Transactions at Roper Technologies

In related news, Director Richard F. Wallman sold 1,000 shares of the stock in a transaction 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 completion of the transaction, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.87% of the company’s stock.

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.