DnB Asset Management AS Cuts Stock Position in Roper Technologies, Inc. (NYSE:ROP)

DnB Asset Management AS decreased its holdings in Roper Technologies, Inc. (NYSE:ROP) by 1.6% in the 4th quarter, HoldingsChannel reports. The firm owned 28,131 shares of the industrial products company’s stock after selling 466 shares during the quarter. DnB Asset Management AS’s holdings in Roper Technologies were worth $14,624,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in ROP. Nomura Asset Management Co. Ltd. boosted its position in Roper Technologies by 5.6% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 107,146 shares of the industrial products company’s stock valued at $55,700,000 after buying an additional 5,642 shares during the period. Broadway Wealth Solutions Inc. acquired a new position in Roper Technologies during the 4th quarter worth $302,000. Norges Bank purchased a new stake in Roper Technologies during the 4th quarter worth about $914,052,000. NEOS Investment Management LLC raised its position in Roper Technologies by 21.3% in the 4th quarter. NEOS Investment Management LLC now owns 12,456 shares of the industrial products company’s stock valued at $6,475,000 after purchasing an additional 2,191 shares in the last quarter. Finally, UniSuper Management Pty Ltd boosted its stake in shares of Roper Technologies by 7.9% in the 4th quarter. UniSuper Management Pty Ltd now owns 21,437 shares of the industrial products company’s stock valued at $11,144,000 after buying an additional 1,575 shares during the period. Institutional investors and hedge funds own 93.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. TD Cowen raised shares of Roper Technologies from a “hold” rating to a “buy” rating and raised their target price for the company from $535.00 to $615.00 in a report on Tuesday, January 28th. Stifel Nicolaus began coverage on shares of Roper Technologies in a research report on Thursday. They set a “buy” rating and a $685.00 price objective for the company. Oppenheimer increased their target price on Roper Technologies from $630.00 to $640.00 and gave the company an “outperform” rating in a report on Friday, January 31st. Robert W. Baird set a $665.00 price target on Roper Technologies in a report on Friday, January 31st. Finally, JPMorgan Chase & Co. increased their price objective on Roper Technologies from $539.00 to $558.00 and gave the company a “neutral” rating in a report on Friday, January 31st. One analyst has rated the stock with a sell rating, three have issued a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $629.18.

Roper Technologies Stock Performance

Shares of Roper Technologies stock opened at $582.64 on Friday. The stock has a market capitalization of $62.57 billion, a price-to-earnings ratio of 40.63, a PEG ratio of 2.77 and a beta of 1.06. The firm’s fifty day simple moving average is $570.85 and its 200-day simple moving average is $553.70. 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, Inc. has a 12 month low of $499.47 and a 12 month high of $595.17.

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 is Friday, April 4th. This represents a $3.30 annualized dividend and a dividend yield of 0.57%. Roper Technologies’s dividend payout ratio (DPR) is 23.01%.

Insider Buying and Selling

In other Roper Technologies news, CFO Jason Conley sold 3,000 shares of Roper Technologies stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $588.19, for a total value of $1,764,570.00. Following the sale, the chief financial officer now owns 31,522 shares of the company’s stock, valued at approximately $18,540,925.18. The trade was a 8.69 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richard F. Wallman sold 351 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The shares were 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 represents a 1.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 8,101 shares of company stock valued at $4,712,045 over the last quarter. 0.87% of the stock is currently owned by 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.