GC Wealth Management RIA LLC Cuts Stake in Roper Technologies, Inc. (NYSE:ROP)

GC Wealth Management RIA LLC lowered its stake in shares of Roper Technologies, Inc. (NYSE:ROP) by 10.9% in the fourth quarter, Holdings Channel reports. The firm owned 864 shares of the industrial products company’s stock after selling 106 shares during the period. GC Wealth Management RIA LLC’s holdings in Roper Technologies were worth $449,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. State Street Corp increased its stake in shares of Roper Technologies by 2.9% during the third quarter. State Street Corp now owns 4,730,427 shares of the industrial products company’s stock worth $2,632,199,000 after purchasing an additional 132,575 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Roper Technologies by 2.1% during the third quarter. Geode Capital Management LLC now owns 2,447,026 shares of the industrial products company’s stock worth $1,357,162,000 after purchasing an additional 51,131 shares in the last quarter. Wellington Management Group LLP grew its stake in Roper Technologies by 87.8% during the 3rd quarter. Wellington Management Group LLP now owns 738,582 shares of the industrial products company’s stock valued at $410,977,000 after acquiring an additional 345,268 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Roper Technologies by 3.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 673,193 shares of the industrial products company’s stock valued at $349,959,000 after acquiring an additional 24,290 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in Roper Technologies by 7.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 662,033 shares of the industrial products company’s stock valued at $368,382,000 after acquiring an additional 45,947 shares in the last quarter. Hedge funds and other institutional investors own 93.31% of the company’s stock.

Insider Transactions at Roper Technologies

In other Roper Technologies news, CFO Jason Conley sold 3,000 shares of the stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $578.05, for a total transaction of $1,734,150.00. Following the sale, the chief financial officer now directly owns 31,522 shares in the company, valued at $18,221,292.10. This represents a 8.69 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP John K. Stipancich sold 1,000 shares of the stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $578.04, for a total transaction of $578,040.00. Following the sale, the vice president now owns 38,932 shares in the company, valued at approximately $22,504,253.28. This trade represents a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 8,101 shares of company stock worth $4,712,045. 0.87% of the stock is currently owned by insiders.

Roper Technologies Stock Performance

Shares of ROP stock opened at $565.75 on Wednesday. The firm’s 50 day moving average price is $554.32 and its 200-day moving average price is $551.56. 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, Inc. has a one year low of $499.47 and a one year high of $595.17. The firm has a market cap of $60.75 billion, a P/E ratio of 39.45, a P/E/G ratio of 2.77 and a beta of 1.06.

Roper Technologies Dividend Announcement

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 issued a $0.825 dividend. The ex-dividend date is Friday, April 4th. This represents a $3.30 annualized dividend and a dividend yield of 0.58%. Roper Technologies’s dividend payout ratio is currently 23.01%.

Analysts Set New Price Targets

Several analysts recently issued reports on ROP shares. Truist Financial reaffirmed a “buy” rating and set a $675.00 price objective (up previously from $665.00) on shares of Roper Technologies in a research note on Friday, January 31st. TD Cowen raised shares of Roper Technologies from a “hold” rating to a “buy” rating and upped their price objective for the company from $535.00 to $615.00 in a research note on Tuesday, January 28th. Oppenheimer upped their price objective on shares of Roper Technologies from $630.00 to $640.00 and gave the company an “outperform” rating in a research note on Friday, January 31st. Raymond James reaffirmed a “strong-buy” rating and set a $655.00 price objective (up previously from $620.00) on shares of Roper Technologies in a research note on Friday, January 31st. Finally, Robert W. Baird set a $665.00 price objective on shares of Roper Technologies in a research note on Friday, January 31st. One analyst has rated the stock with a sell rating, three have assigned a hold rating, six have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $623.60.

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.