Red Door Wealth Management LLC Purchases 702 Shares of Roper Technologies, Inc. (NYSE:ROP)

Red Door Wealth Management LLC raised its holdings in Roper Technologies, Inc. (NYSE:ROP) by 8.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,956 shares of the industrial products company’s stock after buying an additional 702 shares during the period. Red Door Wealth Management LLC’s holdings in Roper Technologies were worth $4,656,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Fortitude Family Office LLC purchased a new position in shares of Roper Technologies during the 3rd quarter valued at $28,000. Global Wealth Strategies & Associates purchased a new stake in Roper Technologies in the third quarter worth approximately $37,000. Kimelman & Baird LLC bought a new position in shares of Roper Technologies during the second quarter valued at about $42,000. Central Pacific Bank Trust Division increased its stake in shares of Roper Technologies by 34.4% in the third quarter. Central Pacific Bank Trust Division now owns 86 shares of the industrial products company’s stock worth $48,000 after buying an additional 22 shares during the period. Finally, Versant Capital Management Inc lifted its holdings in Roper Technologies by 40.7% in the 4th quarter. Versant Capital Management Inc now owns 114 shares of the industrial products company’s stock worth $59,000 after buying an additional 33 shares during the period. Institutional investors and hedge funds own 93.31% of the company’s stock.

Roper Technologies Stock Performance

Shares of Roper Technologies stock opened at $533.24 on Friday. The firm’s 50-day simple moving average is $536.51 and its 200-day simple moving average is $545.22. Roper Technologies, Inc. has a 1 year low of $499.47 and a 1 year high of $580.09. The firm has a market cap of $57.18 billion, a PE ratio of 29.89, a price-to-earnings-growth ratio of 2.55 and a beta of 1.04. 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 EPS for the quarter, beating the consensus estimate of $4.53 by $0.09. The business 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 10.73% and a net margin of 21.78%. Roper Technologies’s revenue was up 11.7% compared to the same quarter last year. During the same period in the prior year, the business posted $4.32 earnings per share. Equities analysts forecast that Roper Technologies, Inc. will post 18.29 earnings per share for the current fiscal year.

Roper Technologies Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Friday, January 3rd were given a dividend of $0.825 per share. The ex-dividend date was Friday, January 3rd. This represents a $3.30 dividend on an annualized basis and a dividend yield of 0.62%. This is a boost from Roper Technologies’s previous quarterly dividend of $0.75. Roper Technologies’s dividend payout ratio (DPR) is 24.14%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on ROP shares. Robert W. Baird boosted 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. Mizuho raised their price objective on 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 reaffirmed a “buy” rating and set a $665.00 price target (up previously from $660.00) on shares of Roper Technologies in a research note on Thursday, October 24th. Barclays lowered their target price on Roper Technologies from $569.00 to $562.00 and set an “underweight” rating for the company in a report on Wednesday, January 8th. 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, October 24th. One analyst has rated the stock with a sell rating, two have given a hold rating, five have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $624.38.

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.