Roper Technologies’ (ROP) “Buy” Rating Reiterated at Truist Financial

Truist Financial reaffirmed their buy rating on shares of Roper Technologies (NYSE:ROP) in a report issued on Friday morning,Benzinga reports. They currently have a $675.00 price objective on the industrial products company’s stock, up from their previous price objective of $665.00.

Several other equities research analysts have also issued reports on ROP. Royal Bank of Canada dropped their price target on Roper Technologies from $675.00 to $666.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. JPMorgan Chase & Co. upped their price objective on Roper Technologies from $539.00 to $558.00 and gave the stock a “neutral” rating in a research note on Friday. Barclays lowered their price objective on Roper Technologies from $569.00 to $562.00 and set an “underweight” rating for the company in a research note on Wednesday, January 8th. Mizuho upped their price objective on Roper Technologies from $530.00 to $565.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Finally, Robert W. Baird upped their price objective on Roper Technologies from $635.00 to $652.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, six have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Roper Technologies has an average rating of “Moderate Buy” and a consensus target price of $622.30.

Roper Technologies Stock Up 0.9 %

Shares of NYSE:ROP opened at $575.65 on Friday. The stock has a market capitalization of $61.73 billion, a P/E ratio of 42.11, a PEG ratio of 2.60 and a beta of 1.04. Roper Technologies has a 1 year low of $499.47 and a 1 year high of $584.31. The stock has a 50-day simple moving average of $535.93 and a 200-day simple moving average of $544.83. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.44 and a current ratio of 0.48.

Roper Technologies Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Friday, January 3rd were given a dividend of $0.825 per share. This represents a $3.30 annualized dividend and a dividend yield of 0.57%. The ex-dividend date of this dividend was Friday, January 3rd. This is an increase from Roper Technologies’s previous quarterly dividend of $0.75. Roper Technologies’s dividend payout ratio (DPR) is 24.14%.

Hedge Funds Weigh In On Roper Technologies

Institutional investors have recently bought and sold shares of the business. PNC Financial Services Group Inc. increased its stake in shares of Roper Technologies by 5.4% in the 3rd quarter. PNC Financial Services Group Inc. now owns 34,652 shares of the industrial products company’s stock valued at $19,282,000 after buying an additional 1,789 shares during the period. Citigroup Inc. grew its stake in shares of Roper Technologies by 17.6% during the third quarter. Citigroup Inc. now owns 190,587 shares of the industrial products company’s stock worth $106,050,000 after purchasing an additional 28,555 shares during the period. Douglas Lane & Associates LLC grew its stake in shares of Roper Technologies by 18.9% during the fourth quarter. Douglas Lane & Associates LLC now owns 109,656 shares of the industrial products company’s stock worth $57,005,000 after purchasing an additional 17,466 shares during the period. Synovus Financial Corp grew its stake in Roper Technologies by 19.6% in the third quarter. Synovus Financial Corp now owns 5,867 shares of the industrial products company’s stock valued at $3,265,000 after acquiring an additional 961 shares during the period. Finally, Nordea Investment Management AB grew its stake in Roper Technologies by 8.5% in the fourth quarter. Nordea Investment Management AB now owns 538,678 shares of the industrial products company’s stock valued at $280,113,000 after acquiring an additional 42,016 shares during the period. Institutional investors own 93.31% of the company’s stock.

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.