Fifth Third Wealth Advisors LLC Raises Stock Holdings in Roper Technologies, Inc. (NYSE:ROP)

Fifth Third Wealth Advisors LLC boosted its holdings in shares of Roper Technologies, Inc. (NYSE:ROP) by 3.9% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,168 shares of the industrial products company’s stock after purchasing an additional 82 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in Roper Technologies were worth $1,206,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Meeder Asset Management Inc. raised its holdings in Roper Technologies by 59.0% in the third quarter. Meeder Asset Management Inc. now owns 124 shares of the industrial products company’s stock valued at $69,000 after acquiring an additional 46 shares in the last quarter. OneAscent Financial Services LLC bought a new position in Roper Technologies in the third quarter worth about $623,000. Tranquility Partners LLC grew its holdings in shares of Roper Technologies by 33.0% during the third quarter. Tranquility Partners LLC now owns 1,321 shares of the industrial products company’s stock valued at $735,000 after purchasing an additional 328 shares during the last quarter. Pathstone Holdings LLC raised its position in shares of Roper Technologies by 0.4% during the 3rd quarter. Pathstone Holdings LLC now owns 14,850 shares of the industrial products company’s stock worth $8,265,000 after purchasing an additional 66 shares during the period. Finally, OneAscent Wealth Management LLC bought a new stake in shares of Roper Technologies in the 3rd quarter worth approximately $600,000. 93.31% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Roper Technologies

In other Roper Technologies news, Director Richard F. Wallman sold 1,000 shares of the company’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 transaction, the director now owns 32,955 shares in the company, valued at approximately $18,125,250. This represents a 2.95 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.87% of the stock is currently owned by insiders.

Roper Technologies Trading Down 0.3 %

Roper Technologies stock opened at $547.96 on Wednesday. Roper Technologies, Inc. has a 1 year low of $508.22 and a 1 year high of $579.10. The firm’s 50 day moving average price is $552.22 and its two-hundred day moving average price is $548.68. The firm has a market cap of $58.76 billion, a price-to-earnings ratio of 40.08, a price-to-earnings-growth ratio of 2.86 and a beta of 1.03. 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 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 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 analyst estimates of $1.72 billion. During the same period in the previous year, the firm earned $4.32 earnings per share. Roper Technologies’s revenue for the quarter was up 11.7% compared to the same quarter last year. On average, research analysts predict that Roper Technologies, Inc. will post 18.24 EPS for the current fiscal year.

Roper Technologies Increases Dividend

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

Analysts Set New Price Targets

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