Price T Rowe Associates Inc. MD Sells 1,072,072 Shares of Roper Technologies, Inc. (NYSE:ROP)

Price T Rowe Associates Inc. MD trimmed its stake in shares of Roper Technologies, Inc. (NYSE:ROP) by 16.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,462,776 shares of the industrial products company’s stock after selling 1,072,072 shares during the period. Price T Rowe Associates Inc. MD owned approximately 5.09% of Roper Technologies worth $2,839,825,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. VSM Wealth Advisory LLC bought a new position in Roper Technologies in the fourth quarter valued at about $26,000. CoreFirst Bank & Trust acquired a new stake in shares of Roper Technologies during the 4th quarter worth approximately $36,000. OFI Invest Asset Management bought a new stake in shares of Roper Technologies during the fourth quarter worth approximately $38,000. E Fund Management Hong Kong Co. Ltd. lifted its holdings in Roper Technologies by 7,500.0% in the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 76 shares of the industrial products company’s stock valued at $40,000 after buying an additional 75 shares during the period. Finally, Golden State Wealth Management LLC bought a new position in Roper Technologies in the fourth quarter valued at approximately $45,000. 93.31% of the stock is owned by institutional investors.

Insider Activity at Roper Technologies

In related news, 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 directly owns 31,522 shares of the company’s stock, valued at approximately $18,540,925.18. This represents a 8.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP John K. Stipancich sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $578.04, for a total value of $578,040.00. Following the completion of the transaction, the vice president now owns 38,932 shares of the company’s stock, valued at approximately $22,504,253.28. This represents a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 8,101 shares of company stock valued at $4,712,045. Corporate insiders own 0.87% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on ROP shares. Stifel Nicolaus assumed coverage on shares of Roper Technologies in a research report on Thursday, March 27th. They set a “buy” rating and a $685.00 target price for the company. Raymond James reissued a “strong-buy” rating and issued a $655.00 target price (up previously from $620.00) on shares of Roper Technologies in a research note on Friday, January 31st. Truist Financial restated a “buy” rating and set a $675.00 target price (up from $665.00) on shares of Roper Technologies in a research report on Friday, January 31st. Barclays cut their price target 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. Finally, Oppenheimer boosted their price objective on shares of Roper Technologies from $630.00 to $640.00 and gave the company an “outperform” rating in a report on Friday, January 31st. One 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 given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $620.73.

Roper Technologies Trading Up 2.2 %

NYSE ROP opened at $551.30 on Wednesday. The stock has a market capitalization of $59.20 billion, a price-to-earnings ratio of 38.44, a PEG ratio of 2.77 and a beta of 1.04. Roper Technologies, Inc. has a 52 week low of $499.47 and a 52 week high of $595.17. The stock’s 50 day moving average price is $569.93 and its two-hundred day moving average price is $554.24. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.37 and a current ratio of 0.40.

Roper Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 22nd. Investors of record on Friday, April 4th were issued a dividend of $0.825 per share. This represents a $3.30 annualized dividend and a yield of 0.60%. The ex-dividend date of this dividend was Friday, April 4th. Roper Technologies’s payout ratio is 23.01%.

Roper Technologies Company 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.