Wedmont Private Capital Sells 32 Shares of Roper Technologies, Inc. (NYSE:ROP)

Wedmont Private Capital cut its stake in shares of Roper Technologies, Inc. (NYSE:ROP) by 2.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,405 shares of the industrial products company’s stock after selling 32 shares during the quarter. Wedmont Private Capital’s holdings in Roper Technologies were worth $706,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Fairscale Capital LLC bought a new stake in shares of Roper Technologies during the 2nd quarter worth $28,000. Fortitude Family Office LLC purchased a new position in shares of Roper Technologies in the 3rd quarter worth about $28,000. Global Wealth Strategies & Associates bought a new position in shares of Roper Technologies during the 3rd quarter valued at about $37,000. Kimelman & Baird LLC purchased a new position in shares of Roper Technologies during the 2nd quarter valued at about $42,000. Finally, Central Pacific Bank Trust Division lifted its position in Roper Technologies by 34.4% in the 3rd quarter. Central Pacific Bank Trust Division now owns 86 shares of the industrial products company’s stock worth $48,000 after buying an additional 22 shares during the last quarter. Hedge funds and other institutional investors own 93.31% of the company’s stock.

Wall Street Analysts Forecast Growth

ROP has been the subject of a number of recent research reports. Royal Bank of Canada lowered their price objective on shares of Roper Technologies from $675.00 to $666.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Robert W. Baird upped their price target 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. Oppenheimer assumed coverage on Roper Technologies in a report on Monday, December 23rd. They issued an “outperform” rating and a $630.00 price objective on the stock. Barclays dropped their target price on Roper Technologies from $569.00 to $562.00 and set an “underweight” rating for the company in a report on Wednesday, January 8th. Finally, Mizuho lifted their price target on Roper Technologies from $530.00 to $565.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. 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, Roper Technologies currently has an average rating of “Moderate Buy” and an average target price of $623.33.

Insider Activity

In other news, Director Richard F. Wallman sold 1,000 shares of the business’s 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 sale, the director now directly owns 32,955 shares of the company’s stock, valued at $18,125,250. The trade was a 2.95 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.87% of the company’s stock.

Roper Technologies Stock Performance

Shares of ROP stock opened at $510.69 on Wednesday. The firm has a market capitalization of $54.76 billion, a price-to-earnings ratio of 37.36, a PEG ratio of 2.84 and a beta of 1.04. The stock has a fifty day moving average of $541.68 and a 200 day moving average of $546.68. Roper Technologies, Inc. has a 52 week low of $499.47 and a 52 week high of $580.09. 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 (NYSE:ROP) last posted its quarterly earnings data on Wednesday, October 23rd. The industrial products company reported $4.62 earnings per share for the quarter, beating the consensus estimate of $4.53 by $0.09. Roper Technologies had a return on equity of 10.73% and a net margin of 21.78%. The business had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.72 billion. During the same period in the previous year, the firm posted $4.32 EPS. The business’s revenue was up 11.7% on a year-over-year basis. As a group, research analysts expect that Roper Technologies, Inc. will post 18.26 earnings per share for the current year.

Roper Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Shareholders 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 represents a $3.30 annualized dividend and a yield of 0.65%. This is a positive change from Roper Technologies’s previous quarterly dividend of $0.75. Roper Technologies’s dividend payout ratio (DPR) is currently 24.14%.

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.