Roper Technologies (NYSE:ROP) Price Target Raised to $640.00

Roper Technologies (NYSE:ROP) had its target price lifted by Oppenheimer from $630.00 to $640.00 in a research report released on Friday morning,Benzinga reports. The firm currently has an outperform rating on the industrial products company’s stock.

ROP has been the topic of several other reports. Royal Bank of Canada reduced 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. Mizuho lifted their price objective on Roper Technologies from $530.00 to $565.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Barclays cut their price objective on Roper Technologies from $569.00 to $562.00 and set an “underweight” rating on the stock in a research report on Wednesday, January 8th. JPMorgan Chase & Co. lifted their price objective on Roper Technologies from $539.00 to $558.00 and gave the stock a “neutral” rating in a research report on Friday. Finally, Truist Financial reiterated a “buy” rating and issued a $675.00 price objective (up from $665.00) on shares of Roper Technologies in a research report on Friday. One research analyst has rated the stock with a sell rating, three have given a hold rating, six have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Roper Technologies currently has an average rating of “Moderate Buy” and a consensus target price of $622.30.

Roper Technologies Price Performance

Shares of Roper Technologies stock opened at $575.65 on Friday. The company has a current ratio of 0.48, a quick ratio of 0.44 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $61.73 billion, a PE ratio of 42.11, a price-to-earnings-growth ratio of 2.60 and a beta of 1.04. The business’s 50-day moving average price is $535.93 and its 200-day moving average price is $544.83. Roper Technologies has a 12 month low of $499.47 and a 12 month high of $584.31.

Roper Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Friday, January 3rd were paid a $0.825 dividend. The ex-dividend date of this dividend was Friday, January 3rd. This represents a $3.30 annualized dividend and a dividend yield of 0.57%. This is a boost from Roper Technologies’s previous quarterly dividend of $0.75. Roper Technologies’s payout ratio is currently 24.14%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Ledyard National Bank grew its holdings in shares of Roper Technologies by 2.1% in the third quarter. Ledyard National Bank now owns 896 shares of the industrial products company’s stock worth $499,000 after acquiring an additional 18 shares during the period. Manchester Capital Management LLC lifted its position in shares of Roper Technologies by 1.6% in the fourth quarter. Manchester Capital Management LLC now owns 1,139 shares of the industrial products company’s stock valued at $592,000 after acquiring an additional 18 shares in the last quarter. Meridian Financial Partners LLC lifted its position in shares of Roper Technologies by 1.0% in the fourth quarter. Meridian Financial Partners LLC now owns 2,052 shares of the industrial products company’s stock valued at $1,067,000 after acquiring an additional 20 shares in the last quarter. Principal Securities Inc. lifted its position in shares of Roper Technologies by 0.5% in the fourth quarter. Principal Securities Inc. now owns 4,291 shares of the industrial products company’s stock valued at $2,231,000 after acquiring an additional 20 shares in the last quarter. Finally, Cromwell Holdings LLC lifted its position in shares of Roper Technologies by 6.8% in the third quarter. Cromwell Holdings LLC now owns 332 shares of the industrial products company’s stock valued at $185,000 after acquiring an additional 21 shares in the last quarter. Hedge funds and other 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.