Weitz Investment Management Inc. Has $16.34 Million Stake in Roper Technologies, Inc. (NYSE:ROP)

Weitz Investment Management Inc. lessened its stake in Roper Technologies, Inc. (NYSE:ROP) by 52.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,425 shares of the industrial products company’s stock after selling 35,075 shares during the quarter. Weitz Investment Management Inc.’s holdings in Roper Technologies were worth $16,336,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. raised its position in Roper Technologies by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 10,575,103 shares of the industrial products company’s stock valued at $5,497,467,000 after buying an additional 72,503 shares during the last quarter. State Street Corp grew its stake in shares of Roper Technologies by 2.9% in the 3rd quarter. State Street Corp now owns 4,730,427 shares of the industrial products company’s stock worth $2,632,199,000 after acquiring an additional 132,575 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Roper Technologies by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 2,476,210 shares of the industrial products company’s stock valued at $1,284,242,000 after purchasing an additional 29,184 shares during the last quarter. Norges Bank bought a new position in shares of Roper Technologies during the fourth quarter valued at about $914,052,000. Finally, JPMorgan Chase & Co. boosted its holdings in Roper Technologies by 54.5% during the fourth quarter. JPMorgan Chase & Co. now owns 1,022,665 shares of the industrial products company’s stock worth $531,633,000 after purchasing an additional 360,632 shares during the last quarter. Institutional investors own 93.31% of the company’s stock.

Roper Technologies Price Performance

ROP opened at $590.78 on Wednesday. The firm has a 50-day moving average price of $573.39 and a 200-day moving average price of $554.28. Roper Technologies, Inc. has a twelve month low of $499.47 and a twelve month 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 company has a market capitalization of $63.44 billion, a price-to-earnings ratio of 41.20, a PEG ratio of 2.77 and a beta of 1.06.

Roper Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 22nd. Investors of record on Friday, April 4th will be paid a $0.825 dividend. The ex-dividend date of this dividend is Friday, April 4th. This represents a $3.30 dividend on an annualized basis and a yield of 0.56%. Roper Technologies’s dividend payout ratio is 23.01%.

Analyst Upgrades and Downgrades

ROP has been the topic of several recent analyst reports. TD Cowen raised shares of Roper Technologies from a “hold” rating to a “buy” rating and lifted their target price for the stock from $535.00 to $615.00 in a research report on Tuesday, January 28th. 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. Oppenheimer raised their target price on Roper Technologies from $630.00 to $640.00 and gave the company an “outperform” rating in a research report on Friday, January 31st. Truist Financial reissued a “buy” rating and issued a $675.00 price target (up from $665.00) on shares of Roper Technologies in a report on Friday, January 31st. Finally, JPMorgan Chase & Co. raised their price objective on shares of Roper Technologies from $539.00 to $558.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $629.18.

Insiders Place Their Bets

In other Roper Technologies news, VP Brandon L. Cross sold 750 shares of Roper Technologies stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $577.83, for a total transaction of $433,372.50. Following the completion of the transaction, the vice president now owns 1,329 shares of the company’s stock, valued at $767,936.07. The trade was a 36.08 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Jason Conley sold 3,000 shares of the stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $588.19, for a total transaction of $1,764,570.00. Following the completion of the sale, the chief financial officer now directly owns 31,522 shares in the company, valued at approximately $18,540,925.18. The trade was a 8.69 % 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 worth $4,712,045 over the last 90 days. Corporate insiders own 0.87% of the company’s stock.

About Roper Technologies

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.