Glenview Trust Co Acquires 36,555 Shares of Roper Technologies, Inc. $ROP

Glenview Trust Co purchased a new stake in Roper Technologies, Inc. (NASDAQ:ROP) in the third quarter, Holdings Channel.com reports. The firm purchased 36,555 shares of the industrial products company’s stock, valued at approximately $12,773,000.

Other institutional investors have also made changes to their positions in the company. VIRGINIA RETIREMENT SYSTEMS ET Al raised its stake in shares of Roper Technologies by 1.3% in the third quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 26,955 shares of the industrial products company’s stock worth $9,418,000 after acquiring an additional 355 shares during the last quarter. Parcion Private Wealth LLC acquired a new stake in shares of Roper Technologies in the third quarter valued at approximately $3,038,000. Choreo LLC acquired a new stake in shares of Roper Technologies in the third quarter valued at approximately $1,378,000. Argentarii LLC bought a new position in Roper Technologies in the 3rd quarter worth approximately $500,000. Finally, China Universal Asset Management Co. Ltd. acquired a new position in Roper Technologies during the 3rd quarter worth $1,165,000. 93.31% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, EVP John K. Stipancich sold 3,500 shares of the company’s stock in a transaction dated Monday, October 26th. The stock was sold at an average price of $449.04, for a total transaction of $1,571,640.00. Following the sale, the executive vice president owned 35,434 shares in the company, valued at approximately $15,911,283.36. This represents a 8.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Jason Conley sold 12,000 shares of the firm’s stock in a transaction on Friday, October 23rd. The shares were sold at an average price of $435.53, for a total transaction of $5,226,360.00. Following the completion of the transaction, the executive vice president directly owned 28,457 shares of the company’s stock, valued at $12,393,877.21. This represents a 29.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on ROP. Truist Financial increased their price objective on Roper Technologies from $475.00 to $500.00 and gave the company a “buy” rating in a research report on Friday, October 23rd. JPMorgan Chase & Co. raised Roper Technologies from an “underweight” rating to a “neutral” rating and upped their price target for the company from $415.00 to $490.00 in a research note on Monday, October 26th. Citigroup raised their price target on Roper Technologies from $450.00 to $525.00 and gave the company a “buy” rating in a report on Friday, October 23rd. The Goldman Sachs Group dropped their price objective on Roper Technologies from $414.00 to $410.00 and set a “neutral” rating for the company in a report on Friday, July 24th. Finally, Royal Bank Of Canada upped their target price on shares of Roper Technologies from $417.00 to $450.00 and gave the company a “sector perform” rating in a research report on Friday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $469.41.

Roper Technologies Price Performance

ROP opened at $466.60 on Friday. The stock has a market cap of $46.15 billion, a P/E ratio of 18.41, a P/E/G ratio of 2.23 and a beta of 0.75. The company has a quick ratio of 0.39, a current ratio of 0.43 and a debt-to-equity ratio of 0.43. The company has a fifty day simple moving average of $392.34 and a 200 day simple moving average of $365.55. Roper Technologies, Inc. has a 12 month low of $305.96 and a 12 month high of $470.01.

Roper Technologies (NASDAQ:ROP) last released its quarterly earnings data on Thursday, October 22nd. The industrial products company reported $5.89 earnings per share for the quarter, beating the consensus estimate of $5.79 by $0.10. The business had revenue of $2.17 billion for the quarter. Roper Technologies had a return on equity of 11.64% and a net margin of 30.71%. The company’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter last year, the firm earned $5.14 EPS. On average, research analysts expect that Roper Technologies, Inc. will post 22.38 EPS for the current year.

Roper Technologies Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 21st. Stockholders of record on Friday, October 2nd were issued a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Friday, October 2nd. Roper Technologies’s payout ratio is 14.36%.

About Roper Technologies

Roper Technologies, Inc is a diversified technology company that develops and acquires businesses serving specialized markets. Its portfolio includes application software, network software and technology-enabled products used by businesses, healthcare organizations, government agencies and other institutions.

The company’s software businesses provide solutions for areas such as education administration, healthcare information management, enterprise asset management, compliance, legal and construction workflows, and financial services.