Freedom Investment Management Inc. Sells 767 Shares of Roper Technologies, Inc. (NYSE:ROP)

Freedom Investment Management Inc. cut its holdings in Roper Technologies, Inc. (NYSE:ROP) by 26.3% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,144 shares of the industrial products company’s stock after selling 767 shares during the period. Freedom Investment Management Inc.’s holdings in Roper Technologies were worth $1,193,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. Townsquare Capital LLC boosted its stake in shares of Roper Technologies by 8.5% during the 3rd quarter. Townsquare Capital LLC now owns 2,053 shares of the industrial products company’s stock worth $1,142,000 after purchasing an additional 160 shares during the period. BNP Paribas Financial Markets boosted its stake in shares of Roper Technologies by 5.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 245,116 shares of the industrial products company’s stock worth $136,392,000 after purchasing an additional 13,176 shares during the period. Brooklyn Investment Group boosted its stake in shares of Roper Technologies by 6.8% during the 3rd quarter. Brooklyn Investment Group now owns 837 shares of the industrial products company’s stock worth $466,000 after purchasing an additional 53 shares during the period. Quantbot Technologies LP purchased a new position in shares of Roper Technologies during the 3rd quarter worth about $1,784,000. Finally, D.A. Davidson & CO. boosted its stake in shares of Roper Technologies by 11.9% during the 3rd quarter. D.A. Davidson & CO. now owns 1,488 shares of the industrial products company’s stock worth $828,000 after purchasing an additional 158 shares during the period. 93.31% of the stock is currently owned by institutional investors.

Roper Technologies Price Performance

Shares of ROP opened at $564.35 on Thursday. The company has a 50 day moving average price of $552.94 and a 200-day moving average price of $550.04. Roper Technologies, Inc. has a fifty-two week low of $508.22 and a fifty-two week high of $579.10. The stock has a market capitalization of $60.52 billion, a PE ratio of 41.28, a PEG ratio of 2.91 and a beta of 1.03. 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 quarterly earnings results on Wednesday, October 23rd. The industrial products company reported $4.62 earnings per share for the quarter, topping the consensus estimate of $4.53 by $0.09. The firm had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.72 billion. Roper Technologies had a net margin of 21.78% and a return on equity of 10.73%. The company’s revenue was up 11.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $4.32 EPS. Equities analysts predict that Roper Technologies, Inc. will post 18.24 earnings per share for the current fiscal year.

Roper Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Friday, January 3rd will be given a dividend of $0.825 per share. 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. This represents a $3.30 dividend on an annualized basis and a dividend yield of 0.58%. Roper Technologies’s dividend payout ratio is presently 21.95%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on ROP shares. Mizuho lifted their price target on shares of Roper Technologies from $530.00 to $565.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Royal Bank of Canada dropped their price target on shares of Roper Technologies from $675.00 to $666.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Jefferies Financial Group boosted their price objective on shares of Roper Technologies from $625.00 to $635.00 and gave the company a “buy” rating in a research report on Friday, August 16th. Robert W. Baird boosted their price objective on shares of 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 reissued a “buy” rating and issued a $665.00 price objective (up from $660.00) on shares of Roper Technologies in a research report on Thursday, October 24th. Three investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $620.80.

Insider Activity

In related news, Director Richard F. Wallman sold 1,000 shares of the business’s stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $550.00, for a total transaction of $550,000.00. Following the transaction, the director now directly owns 32,955 shares in the company, valued at $18,125,250. The trade was a 2.95 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.87% of the company’s stock.

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.