abrdn plc Has $19.71 Million Stock Holdings in Roper Technologies, Inc. (NYSE:ROP)

abrdn plc raised its position in Roper Technologies, Inc. (NYSE:ROP) by 58.9% in the 3rd quarter, HoldingsChannel reports. The fund owned 35,495 shares of the industrial products company’s stock after purchasing an additional 13,153 shares during the period. abrdn plc’s holdings in Roper Technologies were worth $19,714,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently modified their holdings of the company. Diversified Trust Co acquired a new stake in Roper Technologies during the first quarter worth $206,000. State of Alaska Department of Revenue increased its stake in Roper Technologies by 0.4% in the first quarter. State of Alaska Department of Revenue now owns 11,587 shares of the industrial products company’s stock valued at $6,498,000 after acquiring an additional 50 shares during the period. Norden Group LLC acquired a new position in Roper Technologies in the first quarter worth about $1,662,000. J.W. Cole Advisors Inc. lifted its stake in Roper Technologies by 16.1% during the first quarter. J.W. Cole Advisors Inc. now owns 462 shares of the industrial products company’s stock worth $260,000 after purchasing an additional 64 shares during the period. Finally, Private Advisor Group LLC boosted its holdings in Roper Technologies by 0.9% during the first quarter. Private Advisor Group LLC now owns 5,139 shares of the industrial products company’s stock valued at $2,882,000 after purchasing an additional 48 shares in the last quarter. Institutional investors own 93.31% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on ROP shares. Jefferies Financial Group increased their target price on Roper Technologies from $625.00 to $635.00 and gave the stock a “buy” rating in a report on Friday, August 16th. Baird R W raised Roper Technologies from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 25th. Truist Financial restated a “buy” rating and issued a $665.00 target price (up previously from $660.00) on shares of Roper Technologies in a research note on Thursday, October 24th. Mizuho increased their target price on shares of Roper Technologies from $530.00 to $565.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Finally, Royal Bank of Canada reduced their price target on shares of Roper Technologies from $675.00 to $666.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Three analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Roper Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $620.80.

Roper Technologies Stock Performance

Shares of Roper Technologies stock opened at $537.73 on Friday. The firm has a 50 day simple moving average of $550.94 and a 200 day simple moving average of $545.60. Roper Technologies, Inc. has a fifty-two week low of $483.56 and a fifty-two week high of $579.10. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.48 and a quick ratio of 0.44. The firm has a market cap of $57.66 billion, a P/E ratio of 39.34, a P/E/G ratio of 2.83 and a beta of 1.02.

Roper Technologies (NYSE:ROP) last released its earnings results on Wednesday, October 23rd. The industrial products company reported $4.62 earnings per share for the quarter, topping analysts’ consensus estimates of $4.53 by $0.09. The company had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.72 billion. Roper Technologies had a return on equity of 10.73% and a net margin of 21.78%. The firm’s quarterly revenue was up 11.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $4.32 earnings per share. Sell-side analysts predict that Roper Technologies, Inc. will post 18.23 earnings per share for the current fiscal year.

Roper Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, October 21st. Investors of record on Tuesday, October 8th were paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 0.56%. The ex-dividend date was Tuesday, October 8th. Roper Technologies’s dividend payout ratio (DPR) is 21.95%.

Insider Activity at Roper Technologies

In related news, Director Richard F. Wallman sold 1,000 shares of the company’s stock in a transaction 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 owns 32,955 shares in the company, valued at $18,125,250. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.87% of the stock is currently owned by company insiders.

Roper Technologies 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.