Pinebridge Investments L.P. Buys 20,970 Shares of Roper Technologies, Inc. (NYSE:ROP)

Pinebridge Investments L.P. increased its stake in shares of Roper Technologies, Inc. (NYSE:ROP) by 35.2% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 80,578 shares of the industrial products company’s stock after acquiring an additional 20,970 shares during the period. Pinebridge Investments L.P. owned about 0.08% of Roper Technologies worth $41,888,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Roper Technologies by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 10,575,103 shares of the industrial products company’s stock valued at $5,497,467,000 after buying an additional 72,503 shares during the last quarter. Geode Capital Management LLC lifted its stake 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 valued at $1,284,242,000 after acquiring an additional 29,184 shares during the last quarter. Norges Bank bought a new position in shares of Roper Technologies in the 4th quarter valued at about $914,052,000. Invesco Ltd. increased its stake in shares of Roper Technologies by 2.2% during the 4th 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 last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of Roper Technologies by 54.5% in 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 period. 93.31% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ROP has been the subject of a number of research analyst reports. Truist Financial reiterated a “buy” rating and set a $675.00 price target (up previously from $665.00) on shares of Roper Technologies in a report on Friday, January 31st. Oppenheimer increased their price target on Roper Technologies from $630.00 to $640.00 and gave the company an “outperform” rating in a research note on Friday, January 31st. TD Cowen raised shares of Roper Technologies from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $535.00 to $615.00 in a research report on Tuesday, January 28th. JPMorgan Chase & Co. reduced their target price on shares of Roper Technologies from $558.00 to $465.00 and set a “neutral” rating for the company in a report on Tuesday, April 8th. Finally, Barclays cut their price objective on shares of Roper Technologies from $569.00 to $562.00 and set an “underweight” rating for the company in a research report on Wednesday, January 8th. One investment 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 company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $620.73.

Roper Technologies Stock Up 2.2 %

ROP stock opened at $551.30 on Wednesday. Roper Technologies, Inc. has a 52 week low of $499.47 and a 52 week high of $595.17. The business has a 50-day simple moving average of $569.93 and a 200 day simple moving average of $554.24. The company has a quick ratio of 0.37, a current ratio of 0.40 and a debt-to-equity ratio of 0.35. The company has a market cap of $59.20 billion, a PE ratio of 38.44, a price-to-earnings-growth ratio of 2.77 and a beta of 1.04.

Roper Technologies Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 22nd. Stockholders of record on Friday, April 4th were issued a dividend of $0.825 per share. This represents a $3.30 dividend on an annualized basis and a dividend yield of 0.60%. The ex-dividend date of this dividend was Friday, April 4th. Roper Technologies’s dividend payout ratio (DPR) is presently 23.01%.

Insider Buying and Selling

In other Roper Technologies news, Director Richard F. Wallman sold 351 shares of the firm’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $575.25, for a total value of $201,912.75. Following the sale, the director now owns 20,187 shares of the company’s stock, valued at approximately $11,612,571.75. This trade represents a 1.71 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Brandon L. Cross sold 750 shares of the business’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $577.83, for a total value of $433,372.50. Following the transaction, the vice president now directly owns 1,329 shares of the company’s stock, valued at $767,936.07. This trade represents a 36.08 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 8,101 shares of company stock worth $4,712,045. Corporate insiders own 0.87% of the company’s stock.

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.