Kingsview Wealth Management LLC Increases Position in Roper Technologies, Inc. (NYSE:ROP)

Kingsview Wealth Management LLC grew its holdings in shares of Roper Technologies, Inc. (NYSE:ROP) by 10.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 513 shares of the industrial products company’s stock after purchasing an additional 50 shares during the period. Kingsview Wealth Management LLC’s holdings in Roper Technologies were worth $285,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Fairscale Capital LLC purchased a new position in Roper Technologies during the second quarter valued at $28,000. Fortitude Family Office LLC purchased a new position in shares of Roper Technologies in the 3rd quarter worth about $28,000. Versant Capital Management Inc boosted its stake in Roper Technologies by 58.8% in the 2nd quarter. Versant Capital Management Inc now owns 54 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 20 shares in the last quarter. Valley Wealth Managers Inc. purchased a new stake in Roper Technologies during the 2nd quarter valued at about $31,000. Finally, Global Wealth Strategies & Associates bought a new stake in Roper Technologies during the 3rd quarter valued at about $37,000. 93.31% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on ROP shares. Mizuho increased their price target on shares of Roper Technologies from $530.00 to $565.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Jefferies Financial Group increased their target price on Roper Technologies from $625.00 to $635.00 and gave the company a “buy” rating in a research note on Friday, August 16th. Robert W. Baird boosted their price target on Roper Technologies from $635.00 to $652.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Truist Financial reaffirmed a “buy” rating and set a $665.00 price objective (up from $660.00) on shares of Roper Technologies in a research report on Thursday, October 24th. Finally, Royal Bank of Canada decreased their target price on Roper Technologies from $675.00 to $666.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Three research analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Roper Technologies has an average rating of “Moderate Buy” and an average price target of $620.80.

Insider Transactions at Roper Technologies

In related news, Director Richard F. Wallman sold 1,000 shares of the stock in a transaction that occurred on 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 sale, the director now directly owns 32,955 shares of the company’s stock, valued at approximately $18,125,250. This represents a 2.95 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.87% of the company’s stock.

Roper Technologies Price Performance

Shares of NYSE:ROP opened at $566.44 on Friday. The firm’s 50 day moving average price is $553.18 and its 200-day moving average price is $550.45. The company has a quick ratio of 0.44, a current ratio of 0.48 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $60.74 billion, a PE ratio of 41.44, a price-to-earnings-growth ratio of 2.95 and a beta of 1.03. Roper Technologies, Inc. has a twelve month low of $508.22 and a twelve month high of $579.10.

Roper Technologies (NYSE:ROP) last issued 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 business had revenue of $1.75 billion for 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 last year, the company posted $4.32 EPS. Equities research analysts expect that Roper Technologies, Inc. will post 18.24 EPS for the current year.

Roper Technologies Increases Dividend

The business also recently declared 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 dividend on an annualized basis and a yield of 0.58%. Roper Technologies’s dividend payout ratio is presently 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.