Roper Technologies, Inc. (NYSE:ROP) Shares Sold by King Luther Capital Management Corp

King Luther Capital Management Corp trimmed its stake in shares of Roper Technologies, Inc. (NYSE:ROP) by 1.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 593,393 shares of the industrial products company’s stock after selling 6,788 shares during the quarter. Roper Technologies comprises 1.4% of King Luther Capital Management Corp’s holdings, making the stock its 16th biggest position. King Luther Capital Management Corp owned about 0.55% of Roper Technologies worth $330,188,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. New Covenant Trust Company N.A. bought a new stake in shares of Roper Technologies during the 1st quarter worth $25,000. Fairscale Capital LLC purchased a new position in shares of Roper Technologies during the second quarter valued at $28,000. Fortitude Family Office LLC acquired a new stake in Roper Technologies during the 3rd quarter worth about $28,000. Versant Capital Management Inc lifted its position in shares of Roper Technologies by 58.8% in the second quarter. Versant Capital Management Inc now owns 54 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 20 shares in the last quarter. Finally, Valley Wealth Managers Inc. acquired a new position in Roper Technologies in the 2nd quarter valued at approximately $31,000. 93.31% of the stock is currently owned by institutional investors.

Roper Technologies Trading Up 0.3 %

ROP opened at $549.45 on Thursday. Roper Technologies, Inc. has a 1-year low of $508.22 and a 1-year high of $579.10. The company has a current ratio of 0.48, a quick ratio of 0.44 and a debt-to-equity ratio of 0.41. The firm has a 50-day moving average price of $552.21 and a two-hundred day moving average price of $548.68. The stock has a market capitalization of $58.92 billion, a PE ratio of 30.65, a PEG ratio of 2.86 and a beta of 1.03.

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 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 return on equity of 10.73% and a net margin of 21.78%. The company’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same period in the prior year, the company earned $4.32 earnings per share. As a group, equities 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 announced a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Friday, January 3rd will be issued a dividend of $0.825 per share. The ex-dividend date of this dividend is Friday, January 3rd. This is a positive change 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%. Roper Technologies’s payout ratio is presently 21.95%.

Insider Transactions at Roper Technologies

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

Analyst Ratings Changes

ROP has been the topic of a number of research reports. Robert W. Baird increased their price objective on Roper Technologies from $635.00 to $652.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Jefferies Financial Group lifted their target price on shares of Roper Technologies from $625.00 to $635.00 and gave the stock a “buy” rating in a report on Friday, August 16th. Truist Financial reissued a “buy” rating and set a $665.00 price objective (up previously from $660.00) on shares of Roper Technologies in a research report on Thursday, October 24th. Mizuho upped their price target on Roper Technologies from $530.00 to $565.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Finally, Royal Bank of Canada decreased 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. Three analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Roper Technologies currently has an average 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.