Atlantic Union Bankshares Corp Decreases Holdings in Roper Technologies, Inc. (NYSE:ROP)

Atlantic Union Bankshares Corp trimmed its holdings in shares of Roper Technologies, Inc. (NYSE:ROP) by 10.9% in the third quarter, Holdings Channel reports. The firm owned 8,109 shares of the industrial products company’s stock after selling 989 shares during the period. Atlantic Union Bankshares Corp’s holdings in Roper Technologies were worth $4,512,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. ORG Partners LLC boosted its position 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 purchasing an additional 1,024 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its holdings in 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 worth $136,455,000 after buying an additional 2,399 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in 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 worth $19,282,000 after buying an additional 1,789 shares in the last quarter. Citigroup Inc. lifted its holdings 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 buying an additional 28,555 shares in the last quarter. Finally, PGGM Investments lifted its holdings in Roper Technologies by 739.4% in the 2nd quarter. PGGM Investments now owns 72,596 shares of the industrial products company’s stock worth $40,919,000 after buying an additional 63,947 shares in the last quarter. 93.31% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Roper Technologies news, Director Richard F. Wallman sold 1,000 shares of the company’s 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 completion of 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 document filed with the Securities & Exchange Commission, which is available at this link. 0.87% of the stock is owned by insiders.

Roper Technologies Price Performance

Shares of NYSE:ROP opened at $564.35 on Friday. 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 fifty-two week low of $508.22 and a fifty-two week high of $579.10. The firm has a 50-day simple moving average of $553.01 and a 200 day simple moving average of $550.14. The company has a market cap of $60.52 billion, a PE ratio of 41.28, a P/E/G ratio of 2.95 and a beta of 1.03.

Roper Technologies (NYSE:ROP) last announced 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 business had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.72 billion. During the same quarter in the prior year, the firm earned $4.32 EPS. The company’s revenue for the quarter was up 11.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Roper Technologies, Inc. will post 18.24 EPS for the current year.

Roper Technologies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Friday, January 3rd will be given a $0.825 dividend. This is a boost from Roper Technologies’s previous quarterly dividend of $0.75. The ex-dividend date is Friday, January 3rd. This represents a $3.30 annualized dividend and a yield of 0.58%. Roper Technologies’s dividend payout ratio is 21.95%.

Wall Street Analyst Weigh In

A number of brokerages have commented on ROP. Royal Bank of Canada cut their price objective on shares of 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 reiterated a “buy” rating and issued a $665.00 price objective (up previously from $660.00) on shares of Roper Technologies in a report on Thursday, October 24th. Mizuho boosted their price objective 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. 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 report on Thursday, October 24th. Finally, Jefferies Financial Group boosted their price objective 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. Three analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Roper Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $620.80.

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.