Norges Bank Takes $914.05 Million Position in Roper Technologies, Inc. (NYSE:ROP)

Norges Bank purchased a new position in Roper Technologies, Inc. (NYSE:ROP) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 1,758,300 shares of the industrial products company’s stock, valued at approximately $914,052,000. Norges Bank owned approximately 1.64% of Roper Technologies at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of ROP. Vanguard Group Inc. lifted its stake 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 worth $5,497,467,000 after buying an additional 72,503 shares in the last quarter. State Street Corp raised its holdings in 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 during the last quarter. Geode Capital Management LLC lifted its position in Roper Technologies by 2.1% in the 3rd quarter. Geode Capital Management LLC now owns 2,447,026 shares of the industrial products company’s stock valued at $1,357,162,000 after acquiring an additional 51,131 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Roper Technologies by 54.5% during the 4th quarter. JPMorgan Chase & Co. now owns 1,022,665 shares of the industrial products company’s stock valued at $531,633,000 after purchasing an additional 360,632 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of Roper Technologies by 11.2% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 966,551 shares of the industrial products company’s stock worth $497,426,000 after purchasing an additional 97,706 shares in the last quarter. 93.31% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ROP has been the topic of a number of research analyst reports. Oppenheimer upped their price target on Roper Technologies from $630.00 to $640.00 and gave the company an “outperform” rating in a report on Friday, January 31st. Stifel Nicolaus assumed coverage on Roper Technologies in a research report on Thursday. They issued a “buy” rating and a $685.00 target price for the company. Robert W. Baird set a $665.00 price target on shares of Roper Technologies in a report on Friday, January 31st. Raymond James reissued a “strong-buy” rating and set a $655.00 price objective (up from $620.00) on shares of Roper Technologies in a report on Friday, January 31st. Finally, Truist Financial restated a “buy” rating and issued a $675.00 target price (up previously from $665.00) on shares of Roper Technologies in a report on Friday, January 31st. One research analyst has rated the stock with a sell rating, three have given a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $629.18.

Roper Technologies Trading Up 1.7 %

NYSE:ROP opened at $592.55 on Friday. Roper Technologies, Inc. has a one year low of $499.47 and a one year high of $595.78. The business has a fifty day moving average price of $569.64 and a 200-day moving average price of $553.50. The firm has a market capitalization of $63.63 billion, a price-to-earnings ratio of 41.32, a price-to-earnings-growth ratio of 2.77 and a beta of 1.06. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.40 and a quick ratio of 0.37.

Roper Technologies Announces Dividend

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 $0.825 dividend. This represents a $3.30 annualized dividend and a dividend yield of 0.56%. The ex-dividend date of this dividend is Friday, April 4th. Roper Technologies’s dividend payout ratio (DPR) is currently 23.01%.

Insider Activity

In other Roper Technologies news, VP John K. Stipancich sold 1,000 shares of Roper Technologies stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $578.04, for a total transaction of $578,040.00. Following the transaction, the vice president now owns 38,932 shares of the company’s stock, valued at $22,504,253.28. The trade was a 2.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Jason Conley sold 3,000 shares of the stock in a transaction on Friday, January 31st. The stock was sold at an average price of $578.05, for a total transaction of $1,734,150.00. Following the completion of the sale, the chief financial officer now directly owns 31,522 shares of the company’s stock, valued at approximately $18,221,292.10. This trade represents 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 valued at $4,712,045 in the last ninety days. Corporate insiders own 0.87% of the company’s stock.

Roper Technologies 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.