Parnassus Investments LLC Sells 3,729 Shares of Roper Technologies, Inc. (NYSE:ROP)

Parnassus Investments LLC decreased its stake in Roper Technologies, Inc. (NYSE:ROP) by 1.9% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 191,188 shares of the industrial products company’s stock after selling 3,729 shares during the period. Parnassus Investments LLC owned 0.18% of Roper Technologies worth $106,385,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Principal Financial Group Inc. lifted its stake in Roper Technologies by 4.0% in the second quarter. Principal Financial Group Inc. now owns 2,683,909 shares of the industrial products company’s stock valued at $1,512,813,000 after purchasing an additional 102,199 shares during the last quarter. Mackenzie Financial Corp lifted its position in shares of Roper Technologies by 3.1% during the 2nd quarter. Mackenzie Financial Corp now owns 1,119,023 shares of the industrial products company’s stock valued at $630,749,000 after buying an additional 33,544 shares during the last quarter. Legal & General Group Plc grew its stake in shares of Roper Technologies by 7.6% during the 2nd quarter. Legal & General Group Plc now owns 914,499 shares of the industrial products company’s stock worth $515,467,000 after acquiring an additional 64,565 shares during the period. Mirova US LLC boosted its position in Roper Technologies by 2.1% during the second quarter. Mirova US LLC now owns 700,651 shares of the industrial products company’s stock worth $394,929,000 after purchasing an additional 14,501 shares during the period. Finally, American Century Companies Inc. grew its stake in Roper Technologies by 24.4% in the 2nd quarter. American Century Companies Inc. now owns 605,769 shares of the industrial products company’s stock valued at $341,448,000 after buying an additional 118,971 shares in the last quarter. 93.31% of the stock is currently owned by hedge funds and other institutional investors.

Roper Technologies Stock Up 0.2 %

Shares of NYSE:ROP opened at $549.37 on Tuesday. Roper Technologies, Inc. has a 12-month low of $508.22 and a 12-month high of $579.10. The stock has a market capitalization of $58.91 billion, a price-to-earnings ratio of 30.66, a PEG ratio of 2.86 and a beta of 1.03. The stock has a fifty day simple moving average of $552.31 and a two-hundred day simple moving average of $548.46. The company has a current ratio of 0.48, a quick ratio of 0.44 and a debt-to-equity ratio of 0.41.

Roper Technologies (NYSE:ROP) last announced its quarterly earnings results on Wednesday, October 23rd. The industrial products company reported $4.62 earnings per share for the quarter, beating 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 net margin of 21.78% and a return on equity of 10.73%. The firm’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same quarter last year, the firm earned $4.32 earnings per share. On average, research analysts anticipate that Roper Technologies, Inc. will post 18.24 earnings per share for the current fiscal year.

Roper Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Friday, January 3rd will be issued a dividend of $0.825 per share. This is an increase from Roper Technologies’s previous quarterly dividend of $0.75. This represents a $3.30 dividend on an annualized basis and a dividend yield of 0.60%. The ex-dividend date of this dividend is Friday, January 3rd. Roper Technologies’s dividend payout ratio is presently 21.95%.

Insider Activity

In other news, Director Richard F. Wallman sold 1,000 shares of the business’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 transaction 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 $18,125,250. The trade was a 2.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.87% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Royal Bank of Canada reduced their target price on Roper Technologies from $675.00 to $666.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Mizuho lifted 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. Jefferies Financial Group increased their target price on Roper Technologies from $625.00 to $635.00 and gave the company a “buy” rating in a research note on Friday, August 16th. Oppenheimer dropped their price target on Roper Technologies from $650.00 to $630.00 and set an “outperform” rating for the company in a research note on Thursday, July 25th. Finally, Truist Financial reiterated a “buy” rating and set a $665.00 price objective (up from $660.00) on shares of Roper Technologies in a research report on Thursday, October 24th. Three equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Roper Technologies has a consensus rating of “Moderate Buy” and an average price target of $620.80.

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.