Prudential Financial Inc. Trims Stake in Roper Technologies, Inc. (NYSE:ROP)

Prudential Financial Inc. lessened its holdings in shares of Roper Technologies, Inc. (NYSE:ROP) by 28.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 58,089 shares of the industrial products company’s stock after selling 23,383 shares during the period. Prudential Financial Inc. owned 0.05% of Roper Technologies worth $30,198,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Kingsview Wealth Management LLC lifted its holdings in shares of Roper Technologies by 10.8% during the third quarter. Kingsview Wealth Management LLC now owns 513 shares of the industrial products company’s stock valued at $285,000 after purchasing an additional 50 shares during the last quarter. Centaurus Financial Inc. boosted its holdings in Roper Technologies by 17.9% in the third quarter. Centaurus Financial Inc. now owns 1,081 shares of the industrial products company’s stock worth $602,000 after acquiring an additional 164 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Roper Technologies in the third quarter worth $718,000. Independent Advisor Alliance increased its holdings in shares of Roper Technologies by 8.6% during the third quarter. Independent Advisor Alliance now owns 3,290 shares of the industrial products company’s stock valued at $1,831,000 after acquiring an additional 261 shares in the last quarter. Finally, Private Trust Co. NA raised its position in shares of Roper Technologies by 8.3% in the 3rd quarter. Private Trust Co. NA now owns 352 shares of the industrial products company’s stock worth $196,000 after purchasing an additional 27 shares during the last quarter. 93.31% of the stock is owned by hedge funds and other institutional investors.

Roper Technologies Price Performance

NYSE ROP opened at $579.07 on Wednesday. The company has a 50-day moving average price of $566.88 and a 200-day moving average price of $553.02. Roper Technologies, Inc. has a 52 week low of $499.47 and a 52 week high of $595.17. The company has a quick ratio of 0.37, a current ratio of 0.40 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $62.18 billion, a P/E ratio of 40.38, a PEG ratio of 2.77 and a beta of 1.06.

Roper Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 22nd. Shareholders of record on Friday, April 4th will be given a $0.825 dividend. The ex-dividend date is Friday, April 4th. This represents a $3.30 annualized dividend and a yield of 0.57%. Roper Technologies’s payout ratio is presently 23.01%.

Insider Transactions at Roper Technologies

In other news, Director Richard F. Wallman sold 351 shares of the firm’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $575.25, for a total value of $201,912.75. Following the transaction, the director now owns 20,187 shares of the company’s stock, valued at $11,612,571.75. This trade represents a 1.71 % decrease in their ownership of the stock. 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 business’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $578.04, for a total value of $578,040.00. Following the transaction, the vice president now owns 38,932 shares of the company’s stock, valued at approximately $22,504,253.28. This trade represents a 2.50 % decrease in their ownership of the stock. 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 90 days. 0.87% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

ROP has been the subject of a number of analyst reports. Barclays reduced their price objective on shares of Roper Technologies from $569.00 to $562.00 and set an “underweight” rating for the company in a research note on Wednesday, January 8th. TD Cowen upgraded shares of Roper Technologies from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $535.00 to $615.00 in a report on Tuesday, January 28th. Raymond James reiterated a “strong-buy” rating and set a $655.00 target price (up from $620.00) on shares of Roper Technologies in a research note on Friday, January 31st. Oppenheimer boosted their price target on Roper Technologies from $630.00 to $640.00 and gave the stock an “outperform” rating in a research note on Friday, January 31st. Finally, 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. One analyst has rated the stock with a sell rating, three have given a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $623.60.

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.