Fred Alger Management LLC Has $620,000 Stock Position in Roper Technologies, Inc. (NYSE:ROP)

Fred Alger Management LLC lifted its position in shares of Roper Technologies, Inc. (NYSE:ROP) by 33.4% during the 4th quarter, Holdings Channel.com reports. The firm owned 1,193 shares of the industrial products company’s stock after purchasing an additional 299 shares during the quarter. Fred Alger Management LLC’s holdings in Roper Technologies were worth $620,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of ROP. Vanguard Group Inc. boosted its stake in Roper Technologies by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 10,575,103 shares of the industrial products company’s stock worth $5,497,467,000 after buying an additional 72,503 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its position in shares of Roper Technologies by 42.2% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 5,151,502 shares of the industrial products company’s stock valued at $2,678,009,000 after acquiring an additional 1,529,716 shares in the last quarter. Geode Capital Management LLC raised its position in 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 worth $1,284,242,000 after purchasing an additional 29,184 shares in the last quarter. Norges Bank bought a new position in Roper Technologies during the fourth quarter worth about $914,052,000. Finally, Invesco Ltd. lifted its stake in Roper Technologies by 2.2% during the fourth quarter. Invesco Ltd. now owns 1,490,212 shares of the industrial products company’s stock worth $774,687,000 after purchasing an additional 31,531 shares during the period. 93.31% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ROP. Royal Bank of Canada increased their target price on Roper Technologies from $694.00 to $695.00 and gave the stock an “outperform” rating in a report on Tuesday, April 29th. Stifel Nicolaus dropped their price objective on Roper Technologies from $685.00 to $650.00 and set a “buy” rating for the company in a research note on Tuesday, April 29th. Raymond James reissued a “strong-buy” rating and set a $655.00 price objective on shares of Roper Technologies in a report on Monday, April 28th. Barclays reaffirmed an “underweight” rating on shares of Roper Technologies in a report on Monday, April 28th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $640.00 price objective on shares of Roper Technologies in a report on Monday, April 28th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Roper Technologies currently has an average rating of “Moderate Buy” and an average target price of $620.91.

Insiders Place Their Bets

In related news, CFO Jason Conley sold 3,000 shares of Roper Technologies stock in a transaction 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 sale, the chief financial officer now directly owns 31,522 shares of the company’s stock, valued at $18,540,925.18. The trade was a 8.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.87% of the company’s stock.

Roper Technologies Stock Down 0.8 %

NYSE ROP opened at $570.48 on Friday. The stock has a market capitalization of $61.34 billion, a P/E ratio of 39.78, a price-to-earnings-growth ratio of 2.77 and a beta of 1.08. Roper Technologies, Inc. has a 52 week low of $499.47 and a 52 week high of $595.17. 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 has a fifty day moving average of $565.97 and a 200-day moving average of $555.35.

Roper Technologies (NYSE:ROP) last announced its quarterly earnings data on Monday, April 28th. The industrial products company reported $4.78 EPS for the quarter, topping analysts’ consensus estimates of $4.74 by $0.04. Roper Technologies had a return on equity of 10.79% and a net margin of 22.01%. During the same period last year, the business earned $4.41 earnings per share. The business’s quarterly revenue was up 12.0% compared to the same quarter last year. On average, equities research analysts forecast that Roper Technologies, Inc. will post 19.96 EPS for the current year.

Roper Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 22nd. Shareholders of record on Friday, April 4th were paid a $0.825 dividend. The ex-dividend date of this dividend was Friday, April 4th. This represents a $3.30 dividend on an annualized basis and a yield of 0.58%. Roper Technologies’s payout ratio is presently 23.81%.

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.