M&T Bank Corp Sells 2,720 Shares of Roper Technologies, Inc. (NYSE:ROP)

M&T Bank Corp decreased its holdings in shares of Roper Technologies, Inc. (NYSE:ROP) by 6.2% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 40,999 shares of the industrial products company’s stock after selling 2,720 shares during the quarter. M&T Bank Corp’s holdings in Roper Technologies were worth $22,814,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of ROP. Second Line Capital LLC grew its position in Roper Technologies by 18.6% in the 3rd quarter. Second Line Capital LLC now owns 5,038 shares of the industrial products company’s stock valued at $2,803,000 after acquiring an additional 789 shares during the last quarter. TD Private Client Wealth LLC grew its holdings in shares of Roper Technologies by 21.2% in the third quarter. TD Private Client Wealth LLC now owns 257 shares of the industrial products company’s stock worth $143,000 after purchasing an additional 45 shares during the last quarter. Coldstream Capital Management Inc. increased its stake in Roper Technologies by 18.4% in the 3rd quarter. Coldstream Capital Management Inc. now owns 2,088 shares of the industrial products company’s stock worth $1,164,000 after buying an additional 325 shares during the period. Geode Capital Management LLC lifted its holdings in Roper Technologies by 2.1% during the 3rd quarter. Geode Capital Management LLC now owns 2,447,026 shares of the industrial products company’s stock valued at $1,357,162,000 after buying an additional 51,131 shares in the last quarter. Finally, Brophy Wealth Management LLC purchased a new stake in Roper Technologies in the 3rd quarter valued at about $356,000. 93.31% of the stock is currently owned by hedge funds and other institutional investors.

Roper Technologies Price Performance

Shares of ROP stock opened at $525.40 on Friday. The firm has a market capitalization of $56.34 billion, a price-to-earnings ratio of 38.43, a PEG ratio of 2.84 and a beta of 1.02. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.44 and a current ratio of 0.48. The stock’s 50-day simple moving average is $552.81 and its 200-day simple moving average is $551.56. Roper Technologies, Inc. has a fifty-two week low of $508.22 and a fifty-two week high of $580.09.

Roper Technologies (NYSE:ROP) last announced its quarterly earnings data on Wednesday, October 23rd. The industrial products company reported $4.62 earnings per share for the quarter, beating analysts’ consensus estimates of $4.53 by $0.09. The firm had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.72 billion. Roper Technologies had a net margin of 21.78% and a return on equity of 10.73%. The business’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same period in the previous year, the company earned $4.32 earnings per share. As a group, equities analysts forecast that Roper Technologies, Inc. will post 18.26 earnings per share for the current fiscal year.

Roper Technologies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Friday, January 3rd will be issued a $0.825 dividend. This is an increase from Roper Technologies’s previous quarterly dividend of $0.75. This represents a $3.30 annualized dividend and a dividend yield of 0.63%. The ex-dividend date is Friday, January 3rd. Roper Technologies’s dividend payout ratio is 24.14%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on ROP. Robert W. Baird raised their target price on shares of Roper Technologies from $635.00 to $652.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Barclays restated an “underweight” rating and set a $569.00 price objective (down from $625.00) on shares of Roper Technologies in a report on Thursday, December 5th. Truist Financial reiterated a “buy” rating and issued a $665.00 target price (up from $660.00) on shares of Roper Technologies in a report on Thursday, October 24th. Royal Bank of Canada cut their price target on Roper Technologies from $675.00 to $666.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Finally, Mizuho upped their price objective on shares of Roper Technologies from $530.00 to $565.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. One analyst has rated the stock with a sell rating, three have given a hold rating, six have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $615.20.

Insider Activity at Roper Technologies

In other news, Director Richard F. Wallman sold 1,000 shares of Roper Technologies stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $550.00, for a total transaction of $550,000.00. Following the completion of the transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.87% of the stock is currently owned by insiders.

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.