Dynamic Technology Lab Private Ltd Boosts Position in Roper Technologies, Inc. (NYSE:ROP)

Dynamic Technology Lab Private Ltd raised its stake in Roper Technologies, Inc. (NYSE:ROP) by 22.5% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 1,580 shares of the industrial products company’s stock after buying an additional 290 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in Roper Technologies were worth $822,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in shares of Roper Technologies by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 10,575,103 shares of the industrial products company’s stock valued at $5,497,467,000 after purchasing an additional 72,503 shares during the period. Geode Capital Management LLC grew its position in shares of Roper Technologies by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 2,476,210 shares of the industrial products company’s stock worth $1,284,242,000 after buying an additional 29,184 shares in the last quarter. Norges Bank purchased a new position in shares of Roper Technologies during the fourth quarter valued at $914,052,000. JPMorgan Chase & Co. raised its holdings in shares of Roper Technologies by 54.5% in the fourth quarter. JPMorgan Chase & Co. now owns 1,022,665 shares of the industrial products company’s stock valued at $531,633,000 after acquiring an additional 360,632 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Roper Technologies by 11.2% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 966,551 shares of the industrial products company’s stock worth $497,426,000 after acquiring an additional 97,706 shares during the period. 93.31% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on ROP. Barclays cut their target price on shares of Roper Technologies from $569.00 to $562.00 and set an “underweight” rating on the stock in a research report on Wednesday, January 8th. Truist Financial reissued a “buy” rating and issued a $675.00 price objective (up previously from $665.00) on shares of Roper Technologies in a research note on Friday, January 31st. JPMorgan Chase & Co. increased their target price on Roper Technologies from $539.00 to $558.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. Robert W. Baird set a $665.00 price target on Roper Technologies in a research report on Friday, January 31st. Finally, Raymond James reaffirmed a “strong-buy” rating and set a $655.00 price objective (up previously from $620.00) on shares of Roper Technologies in a research report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Roper Technologies presently has an average rating of “Moderate Buy” and a consensus target price of $629.18.

Insider Activity

In other news, CFO Jason Conley sold 3,000 shares of the company’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $578.05, for a total value of $1,734,150.00. Following the sale, the chief financial officer now directly owns 31,522 shares of the company’s stock, valued at $18,221,292.10. This represents a 8.69 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard F. Wallman sold 351 shares of the stock in a transaction on Friday, January 31st. The stock was sold at an average price of $575.25, for a total transaction of $201,912.75. Following the completion of the sale, the director now owns 20,187 shares in the company, valued at $11,612,571.75. The trade was a 1.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 8,101 shares of company stock valued at $4,712,045 over the last ninety days. 0.87% of the stock is currently owned by insiders.

Roper Technologies Stock Performance

Shares of Roper Technologies stock opened at $541.80 on Monday. The company has a 50 day moving average price of $575.65 and a 200 day moving average price of $554.66. The firm has a market capitalization of $58.18 billion, a P/E ratio of 37.78, a PEG ratio of 2.77 and a beta of 1.04. The company has a quick ratio of 0.37, a current ratio of 0.40 and a debt-to-equity ratio of 0.35. Roper Technologies, Inc. has a 52 week low of $499.47 and a 52 week high of $595.17.

Roper Technologies Dividend Announcement

The business also recently disclosed 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 0.61%. Roper Technologies’s payout ratio is currently 23.01%.

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.