Eastern Bank Acquires Shares of 9,540 Roper Technologies, Inc. (NYSE:ROP)

Eastern Bank bought a new position in Roper Technologies, Inc. (NYSE:ROP) in the 3rd quarter, Holdings Channel.com reports. The fund bought 9,540 shares of the industrial products company’s stock, valued at approximately $5,308,000.

Other institutional investors have also modified their holdings of the company. New Covenant Trust Company N.A. bought a new position in Roper Technologies during the first quarter worth $25,000. Fairscale Capital LLC bought a new position in shares of Roper Technologies in the 2nd quarter worth about $28,000. Versant Capital Management Inc boosted its holdings in shares of Roper Technologies by 58.8% in the 2nd quarter. Versant Capital Management Inc now owns 54 shares of the industrial products company’s stock valued at $30,000 after buying an additional 20 shares during the period. Valley Wealth Managers Inc. acquired a new position in shares of Roper Technologies in the 2nd quarter valued at about $31,000. Finally, Covestor Ltd grew its position in shares of Roper Technologies by 50.0% during the 1st quarter. Covestor Ltd now owns 60 shares of the industrial products company’s stock valued at $34,000 after buying an additional 20 shares during the last quarter. Institutional investors and hedge funds own 93.31% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Truist Financial restated a “buy” rating and issued a $660.00 target price on shares of Roper Technologies in a research note on Tuesday, August 27th. Royal Bank of Canada boosted their price objective on Roper Technologies from $674.00 to $675.00 and gave the company an “outperform” rating in a research report on Friday, August 16th. Barclays increased their target price on Roper Technologies from $611.00 to $625.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 10th. Oppenheimer reduced their price target on shares of Roper Technologies from $650.00 to $630.00 and set an “outperform” rating for the company in a report on Thursday, July 25th. Finally, Mizuho increased 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. 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $619.50.

Roper Technologies Stock Down 0.8 %

Roper Technologies stock opened at $552.10 on Wednesday. Roper Technologies, Inc. has a 52 week low of $474.46 and a 52 week high of $579.10. The stock has a market cap of $59.19 billion, a price-to-earnings ratio of 40.90, a PEG ratio of 2.92 and a beta of 1.02. The company’s 50-day moving average price is $551.18 and its two-hundred day moving average price is $545.48. The company has a current ratio of 0.53, a quick ratio of 0.48 and a debt-to-equity ratio of 0.38.

Roper Technologies (NYSE:ROP) last posted its quarterly earnings data on Wednesday, July 24th. The industrial products company reported $4.48 EPS for the quarter, beating analysts’ consensus estimates of $4.46 by $0.02. The business had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.72 billion. Roper Technologies had a net margin of 22.14% and a return on equity of 10.77%. On average, analysts expect that Roper Technologies, Inc. will post 18.16 EPS for the current fiscal year.

Roper Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 21st. Stockholders of record on Tuesday, October 8th were paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date was Tuesday, October 8th. Roper Technologies’s dividend payout ratio is presently 22.22%.

Insider Activity

In related news, Director Robert D. Johnson sold 140 shares of Roper Technologies stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $550.34, for a total transaction of $77,047.60. Following the transaction, the director now directly owns 5,909 shares of the company’s stock, valued at $3,251,959.06. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.87% of the company’s stock.

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.