Royal London Asset Management Ltd. Increases Stock Holdings in Roper Technologies, Inc. (NYSE:ROP)

Royal London Asset Management Ltd. lifted its stake in shares of Roper Technologies, Inc. (NYSE:ROP) by 2.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 112,012 shares of the industrial products company’s stock after acquiring an additional 2,911 shares during the period. Royal London Asset Management Ltd. owned 0.10% of Roper Technologies worth $58,229,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. PNC Financial Services Group Inc. boosted its stake in Roper Technologies by 5.4% in the 3rd quarter. PNC Financial Services Group Inc. now owns 34,652 shares of the industrial products company’s stock worth $19,282,000 after buying an additional 1,789 shares during the last quarter. Citigroup Inc. increased its holdings in Roper Technologies by 17.6% during the 3rd quarter. Citigroup Inc. now owns 190,587 shares of the industrial products company’s stock worth $106,050,000 after purchasing an additional 28,555 shares during the last quarter. Douglas Lane & Associates LLC increased its holdings in Roper Technologies by 18.9% during the 4th 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 increased its holdings in Roper Technologies by 19.6% during the 3rd quarter. Synovus Financial Corp now owns 5,867 shares of the industrial products company’s stock worth $3,265,000 after purchasing an additional 961 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd increased its holdings in Roper Technologies by 52.5% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 4,938 shares of the industrial products company’s stock worth $2,747,000 after purchasing an additional 1,699 shares during the last quarter. Institutional investors and hedge funds own 93.31% of the company’s stock.

Insider Buying and Selling

In related news, VP John K. Stipancich sold 1,000 shares of the business’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $578.04, for a total transaction 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. The trade was a 2.50 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Richard F. Wallman sold 351 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $575.25, for a total value of $201,912.75. Following the completion of the transaction, the director now directly 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 8,101 shares of company stock valued at $4,712,045. Insiders own 0.87% of the company’s stock.

Roper Technologies Stock Performance

ROP opened at $575.45 on Friday. The company has a market cap of $61.79 billion, a PE ratio of 40.13, a price-to-earnings-growth ratio of 2.77 and a beta of 1.06. The stock has a 50-day moving average of $562.75 and a 200-day moving average of $552.56. 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.

Roper Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 22nd. Stockholders of record on Friday, April 4th will be paid a dividend of $0.825 per share. The ex-dividend date of this dividend is Friday, April 4th. This represents a $3.30 annualized dividend and a dividend yield of 0.57%. Roper Technologies’s dividend payout ratio (DPR) is presently 23.01%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. JPMorgan Chase & Co. lifted their target price on Roper Technologies from $539.00 to $558.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. TD Cowen upgraded Roper Technologies from a “hold” rating to a “buy” rating and boosted their price target for the stock from $535.00 to $615.00 in a research report on Tuesday, January 28th. Truist Financial reissued a “buy” rating and issued a $675.00 price objective (up previously from $665.00) on shares of Roper Technologies in a research note on Friday, January 31st. Raymond James reaffirmed a “strong-buy” rating and set a $655.00 target price (up from $620.00) on shares of Roper Technologies in a research report on Friday, January 31st. Finally, Robert W. Baird set a $665.00 target price on Roper Technologies in a research report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, three have given a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $623.60.

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.