Ironwood Investment Counsel LLC Cuts Stock Position in Roper Technologies, Inc. (NYSE:ROP)

Ironwood Investment Counsel LLC trimmed its position in shares of Roper Technologies, Inc. (NYSE:ROP) by 3.6% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 930 shares of the industrial products company’s stock after selling 35 shares during the quarter. Ironwood Investment Counsel LLC’s holdings in Roper Technologies were worth $517,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. ORG Partners LLC grew its stake in Roper Technologies by 764.2% during the 2nd quarter. ORG Partners LLC now owns 1,158 shares of the industrial products company’s stock worth $652,000 after buying an additional 1,024 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its position in shares of Roper Technologies by 1.0% in the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 240,633 shares of the industrial products company’s stock valued at $136,455,000 after purchasing an additional 2,399 shares during the last quarter. PNC Financial Services Group Inc. raised its position in shares of Roper Technologies by 5.4% in the 3rd quarter. PNC Financial Services Group Inc. now owns 34,652 shares of the industrial products company’s stock valued at $19,282,000 after purchasing an additional 1,789 shares during the last quarter. Citigroup Inc. boosted its stake in Roper Technologies by 17.6% in the 3rd quarter. Citigroup Inc. now owns 190,587 shares of the industrial products company’s stock worth $106,050,000 after purchasing an additional 28,555 shares in the last quarter. Finally, PGGM Investments grew its position in Roper Technologies by 739.4% during the 2nd quarter. PGGM Investments now owns 72,596 shares of the industrial products company’s stock worth $40,919,000 after purchasing an additional 63,947 shares during the last quarter. 93.31% of the stock is currently owned by institutional investors.

Roper Technologies Price Performance

NYSE:ROP opened at $566.44 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. The company has a 50 day moving average price of $553.18 and a 200-day moving average price of $550.45. Roper Technologies, Inc. has a 1-year low of $508.22 and a 1-year high of $579.10. The firm has a market cap of $60.74 billion, a price-to-earnings ratio of 41.44, a price-to-earnings-growth ratio of 2.95 and a beta of 1.03.

Roper Technologies (NYSE:ROP) last released its quarterly earnings data on Wednesday, October 23rd. The industrial products company reported $4.62 earnings per share for the quarter, beating 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 company had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.72 billion. During the same quarter in the previous year, the company earned $4.32 earnings per share. The firm’s revenue for the quarter was up 11.7% on a year-over-year basis. Equities research analysts forecast that Roper Technologies, Inc. will post 18.24 EPS for the current year.

Roper Technologies Increases Dividend

The firm also recently disclosed 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. The ex-dividend date is Friday, January 3rd. This is a boost 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 0.58%. Roper Technologies’s payout ratio is 24.14%.

Insider Transactions at Roper Technologies

In other news, Director Richard F. Wallman sold 1,000 shares of the business’s stock in a transaction dated 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 sale, the director now 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 this link. Corporate insiders own 0.87% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on ROP. Robert W. Baird lifted their price objective 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. Jefferies Financial Group lifted their price target on Roper Technologies from $625.00 to $635.00 and gave the stock a “buy” rating in a research report on Friday, August 16th. 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 report on Thursday, October 24th. 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 report on Thursday, October 24th. Finally, Mizuho increased their price target 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. Three equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus 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.