Washington Trust Bank Decreases Stock Position in Roper Technologies, Inc. (NYSE:ROP)

Washington Trust Bank cut its holdings in shares of Roper Technologies, Inc. (NYSE:ROP) by 38.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,689 shares of the industrial products company’s stock after selling 1,075 shares during the quarter. Washington Trust Bank’s holdings in Roper Technologies were worth $878,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Wellington Management Group LLP raised its position in shares of Roper Technologies by 87.8% during the 3rd quarter. Wellington Management Group LLP now owns 738,582 shares of the industrial products company’s stock valued at $410,977,000 after buying an additional 345,268 shares during the period. Raymond James Financial Inc. purchased a new position in Roper Technologies during the 4th quarter valued at about $148,070,000. Proficio Capital Partners LLC boosted its stake in shares of Roper Technologies by 59,278.6% in the fourth quarter. Proficio Capital Partners LLC now owns 280,267 shares of the industrial products company’s stock valued at $145,697,000 after purchasing an additional 279,795 shares during the period. Union Bancaire Privee UBP SA acquired a new position in shares of Roper Technologies in the fourth quarter worth $69,382,000. Finally, Loomis Sayles & Co. L P increased its holdings in Roper Technologies by 25.8% during the 3rd quarter. Loomis Sayles & Co. L P now owns 648,427 shares of the industrial products company’s stock worth $360,811,000 after purchasing an additional 132,913 shares during the period. 93.31% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ROP has been the topic of a number of recent analyst reports. Raymond James reissued a “strong-buy” rating and issued a $655.00 price objective (up from $620.00) on shares of Roper Technologies in a research report on Friday, January 31st. Oppenheimer raised their price target on Roper Technologies from $630.00 to $640.00 and gave the company an “outperform” rating in a research note on Friday, January 31st. Truist Financial reaffirmed a “buy” rating and set a $675.00 price objective (up from $665.00) on shares of Roper Technologies in a research report on Friday, January 31st. JPMorgan Chase & Co. boosted their target price on Roper Technologies from $539.00 to $558.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. Finally, Robert W. Baird set a $665.00 price target on shares of Roper Technologies in a research note on Friday, January 31st. One analyst has rated the stock with a sell rating, three have assigned a hold rating, six have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $623.60.

Insider Activity at Roper Technologies

In other news, Director Richard F. Wallman sold 351 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $575.25, for a total value of $201,912.75. Following the completion of the sale, the director now directly owns 20,187 shares of the company’s stock, valued at $11,612,571.75. This trade represents a 1.71 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP John K. Stipancich sold 1,000 shares of the company’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $578.04, for a total value of $578,040.00. Following the transaction, the vice president now directly owns 38,932 shares in the company, valued at $22,504,253.28. This represents a 2.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 8,101 shares of company stock worth $4,712,045 in the last quarter. Company insiders own 0.87% of the company’s stock.

Roper Technologies Stock Performance

Shares of Roper Technologies stock opened at $572.18 on Friday. The firm’s fifty day simple moving average is $564.14 and its 200-day simple moving average is $552.68. Roper Technologies, Inc. has a 12 month low of $499.47 and a 12 month high of $595.17. The stock has a market capitalization of $61.44 billion, a price-to-earnings ratio of 39.90, a PEG ratio of 2.77 and a beta of 1.06. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.40 and a quick ratio of 0.37.

Roper Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 22nd. Stockholders of record on Friday, April 4th will be paid a dividend of $0.825 per share. The ex-dividend date of this dividend is Friday, April 4th. This represents a $3.30 annualized dividend and a dividend yield of 0.58%. Roper Technologies’s dividend payout ratio (DPR) is 23.01%.

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.