Eastern Bank Lowers Position in Roper Technologies, Inc. (NYSE:ROP)

Eastern Bank decreased its position in shares of Roper Technologies, Inc. (NYSE:ROP) by 71.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,715 shares of the industrial products company’s stock after selling 6,825 shares during the period. Eastern Bank’s holdings in Roper Technologies were worth $1,411,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. PNC Financial Services Group Inc. lifted its stake in Roper Technologies by 5.4% during the 3rd quarter. PNC Financial Services Group Inc. now owns 34,652 shares of the industrial products company’s stock worth $19,282,000 after acquiring an additional 1,789 shares in the last quarter. Synovus Financial Corp lifted its stake in Roper Technologies by 19.6% during the 3rd quarter. Synovus Financial Corp now owns 5,867 shares of the industrial products company’s stock worth $3,265,000 after acquiring an additional 961 shares in the last quarter. Citigroup Inc. lifted its stake in Roper Technologies by 17.6% during the 3rd quarter. Citigroup Inc. now owns 190,587 shares of the industrial products company’s stock worth $106,050,000 after acquiring an additional 28,555 shares in the last quarter. Douglas Lane & Associates LLC lifted its stake in Roper Technologies by 18.9% during the 4th quarter. Douglas Lane & Associates LLC now owns 109,656 shares of the industrial products company’s stock worth $57,005,000 after acquiring an additional 17,466 shares in the last quarter. Finally, Nordea Investment Management AB lifted its stake in Roper Technologies by 8.5% during the 4th quarter. Nordea Investment Management AB now owns 538,678 shares of the industrial products company’s stock worth $280,113,000 after acquiring an additional 42,016 shares in the last quarter. Institutional investors and hedge funds own 93.31% of the company’s stock.

Insider Buying and Selling at Roper Technologies

In other Roper Technologies news, Director Richard F. Wallman sold 1,000 shares of Roper Technologies stock in a transaction that occurred on Thursday, October 24th. The stock was 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 in the company, valued at approximately $18,125,250. This trade represents a 2.95 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.87% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Barclays reduced their price target on Roper Technologies from $569.00 to $562.00 and set an “underweight” rating on the stock in a research report on Wednesday, January 8th. Mizuho increased their price target on Roper Technologies from $530.00 to $565.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Oppenheimer assumed coverage on Roper Technologies in a research report on Monday, December 23rd. They issued an “outperform” rating and a $630.00 price target on the stock. Robert W. Baird increased their price target on Roper Technologies from $635.00 to $652.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Finally, Truist Financial reaffirmed a “buy” rating and issued a $665.00 price target (up previously from $660.00) on shares of Roper Technologies in a research report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $623.33.

Roper Technologies Trading Up 1.1 %

NYSE:ROP opened at $508.00 on Tuesday. The stock’s 50 day moving average price is $542.32 and its 200 day moving average price is $547.05. The company has a market capitalization of $54.47 billion, a PE ratio of 37.16, a P/E/G ratio of 2.84 and a beta of 1.04. The company has a quick ratio of 0.44, a current ratio of 0.48 and a debt-to-equity ratio of 0.41. Roper Technologies, Inc. has a 52-week low of $499.47 and a 52-week high of $580.09.

Roper Technologies (NYSE:ROP) last released its quarterly 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. The firm had revenue of $1.75 billion for 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 firm’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same quarter last year, the business posted $4.32 EPS. On average, research analysts anticipate that Roper Technologies, Inc. will post 18.26 EPS for the current 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 paid a dividend of $0.825 per share. This represents a $3.30 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date of this dividend is Friday, January 3rd. This is an increase from Roper Technologies’s previous quarterly dividend of $0.75. Roper Technologies’s dividend payout ratio (DPR) is currently 24.14%.

Roper Technologies Company 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.