Davis Rea LTD. Grows Stake in Roper Technologies, Inc. (NYSE:ROP)

Davis Rea LTD. boosted its holdings in Roper Technologies, Inc. (NYSE:ROP) by 224.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,404 shares of the industrial products company’s stock after purchasing an additional 11,354 shares during the quarter. Roper Technologies makes up approximately 4.3% of Davis Rea LTD.’s holdings, making the stock its 12th biggest position. Davis Rea LTD.’s holdings in Roper Technologies were worth $8,528,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in ROP. PNC Financial Services Group Inc. grew its stake in Roper Technologies by 5.4% during the third quarter. PNC Financial Services Group Inc. now owns 34,652 shares of the industrial products company’s stock valued at $19,282,000 after acquiring an additional 1,789 shares in the last quarter. Citigroup Inc. grew its position in shares of Roper Technologies by 17.6% during the third quarter. Citigroup Inc. now owns 190,587 shares of the industrial products company’s stock valued at $106,050,000 after purchasing an additional 28,555 shares in the last quarter. Douglas Lane & Associates LLC increased its holdings in shares of Roper Technologies by 18.9% in the fourth quarter. Douglas Lane & Associates LLC now owns 109,656 shares of the industrial products company’s stock worth $57,005,000 after purchasing an additional 17,466 shares during the last quarter. Synovus Financial Corp lifted its position in shares of Roper Technologies by 19.6% in the third quarter. Synovus Financial Corp now owns 5,867 shares of the industrial products company’s stock worth $3,265,000 after buying an additional 961 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd boosted its stake in Roper Technologies by 52.5% during the third quarter. Harvest Fund Management Co. Ltd now owns 4,938 shares of the industrial products company’s stock valued at $2,747,000 after buying an additional 1,699 shares during the last quarter. 93.31% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ROP has been the topic of several recent research reports. Truist Financial reaffirmed a “buy” rating and set a $675.00 price objective (up from $665.00) on shares of Roper Technologies in a report on Friday, January 31st. Oppenheimer increased their price objective on shares of Roper Technologies from $630.00 to $640.00 and gave the company an “outperform” rating in a research report on Friday, January 31st. Barclays reduced their target price on shares of Roper Technologies from $569.00 to $562.00 and set an “underweight” rating on the stock in a report on Wednesday, January 8th. TD Cowen raised shares of Roper Technologies from a “hold” rating to a “buy” rating and increased their price target for the company from $535.00 to $615.00 in a report on Tuesday, January 28th. Finally, Robert W. Baird set a $665.00 price objective on 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 given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $623.60.

Insiders Place Their Bets

In related news, Director Richard F. Wallman sold 351 shares of Roper Technologies stock in a transaction dated 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 of the company’s stock, valued at $11,612,571.75. The trade was a 1.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Jason Conley sold 3,000 shares of the stock in a transaction that occurred on 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 transaction, the chief financial officer now owns 31,522 shares in the company, valued at approximately $18,540,925.18. This trade represents a 8.69 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 8,101 shares of company stock valued at $4,712,045. Insiders own 0.87% of the company’s stock.

Roper Technologies Trading Down 0.5 %

ROP opened at $572.50 on Friday. The stock has a market cap of $61.39 billion, a price-to-earnings ratio of 39.92, a P/E/G ratio of 2.77 and a beta of 1.05. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.37 and a current ratio of 0.40. The stock’s 50 day moving average price is $544.92 and its 200-day moving average price is $549.05. Roper Technologies, Inc. has a one year low of $499.47 and a one year high of $593.91.

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.