Connor Clark & Lunn Investment Management Ltd. Reduces Stock Position in Roper Technologies, Inc. (NYSE:ROP)

Connor Clark & Lunn Investment Management Ltd. lowered its position in shares of Roper Technologies, Inc. (NYSE:ROP - Free Report) by 36.3% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,643 shares of the industrial products company's stock after selling 4,362 shares during the period. Connor Clark & Lunn Investment Management Ltd.'s holdings in Roper Technologies were worth $4,506,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. MorganRosel Wealth Management LLC purchased a new stake in shares of Roper Technologies in the 1st quarter worth about $27,000. Putney Financial Group LLC purchased a new stake in shares of Roper Technologies in the 4th quarter worth about $31,000. Olde Wealth Management LLC purchased a new stake in shares of Roper Technologies in the 1st quarter worth about $31,000. Wayfinding Financial LLC purchased a new stake in shares of Roper Technologies in the 1st quarter worth about $31,000. Finally, Alpine Bank Wealth Management purchased a new stake in shares of Roper Technologies in the 1st quarter worth about $34,000. Hedge funds and other institutional investors own 93.31% of the company's stock.

Roper Technologies Stock Up 0.9%

Shares of Roper Technologies stock traded up $4.68 during trading on Friday, hitting $529.64. The company's stock had a trading volume of 697,542 shares, compared to its average volume of 619,619. The company has a market capitalization of $57.00 billion, a PE ratio of 36.93, a P/E/G ratio of 2.77 and a beta of 0.99. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.37 and a current ratio of 0.40. Roper Technologies, Inc. has a 52 week low of $499.47 and a 52 week high of $595.17. The company has a fifty day simple moving average of $554.68 and a two-hundred day simple moving average of $564.56.

Roper Technologies (NYSE:ROP - Get Free Report) last released its quarterly earnings data on Monday, July 21st. The industrial products company reported $4.87 earnings per share for the quarter, beating analysts' consensus estimates of $4.83 by $0.04. Roper Technologies had a net margin of 22.01% and a return on equity of 10.79%. The business's revenue for the quarter was up 13.2% compared to the same quarter last year. During the same quarter last year, the company posted $4.48 earnings per share. Equities research analysts predict that Roper Technologies, Inc. will post 19.96 earnings per share for the current year.

Roper Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 17th. Shareholders of record on Friday, October 3rd will be paid a dividend of $0.825 per share. This represents a $3.30 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Friday, October 3rd. Roper Technologies's dividend payout ratio (DPR) is currently 23.19%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on ROP shares. JPMorgan Chase & Co. raised their target price on shares of Roper Technologies from $561.00 to $577.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 22nd. Oppenheimer reaffirmed an "outperform" rating and issued a $640.00 target price on shares of Roper Technologies in a research report on Monday, April 28th. Raymond James Financial reaffirmed a "strong-buy" rating and issued a $655.00 target price on shares of Roper Technologies in a research report on Monday, April 28th. William Blair assumed coverage on shares of Roper Technologies in a research report on Monday, May 5th. They issued an "outperform" rating for the company. Finally, Truist Financial increased their price target on shares of Roper Technologies from $675.00 to $685.00 and gave the stock a "buy" rating in a research note on Tuesday, July 22nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $637.18.

Insider Transactions at Roper Technologies

In other Roper Technologies news, VP John K. Stipancich sold 1,500 shares of the firm's stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $564.17, for a total transaction of $846,255.00. Following the completion of the sale, the vice president directly owned 38,932 shares in the company, valued at approximately $21,964,266.44. This trade represents a 3.71% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Richard F. Wallman sold 352 shares of the firm's stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $556.25, for a total transaction of $195,800.00. Following the sale, the director directly owned 20,510 shares in the company, valued at approximately $11,408,687.50. The trade was a 1.69% decrease in their position. The disclosure for this sale can be found here. 0.78% 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.