Mirova US LLC Cuts Position in Roper Technologies, Inc. (NYSE:ROP)

Mirova US LLC decreased its stake in shares of Roper Technologies, Inc. (NYSE:ROP) by 2.9% during the fourth quarter, HoldingsChannel reports. The firm owned 685,167 shares of the industrial products company’s stock after selling 20,732 shares during the quarter. Roper Technologies accounts for approximately 4.3% of Mirova US LLC’s holdings, making the stock its 8th biggest position. Mirova US LLC’s holdings in Roper Technologies were worth $356,184,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. PNC Financial Services Group Inc. increased its stake in shares of 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 acquiring an additional 1,789 shares in the last quarter. Citigroup Inc. increased its stake in shares of Roper Technologies by 17.6% in the 3rd quarter. Citigroup Inc. now owns 190,587 shares of the industrial products company’s stock worth $106,050,000 after acquiring an additional 28,555 shares in the last quarter. Douglas Lane & Associates LLC increased its stake in shares of Roper Technologies by 18.9% in the 4th quarter. Douglas Lane & Associates LLC now owns 109,656 shares of the industrial products company’s stock worth $57,005,000 after acquiring an additional 17,466 shares in the last quarter. Synovus Financial Corp increased its stake in shares of Roper Technologies by 19.6% in the 3rd quarter. Synovus Financial Corp now owns 5,867 shares of the industrial products company’s stock worth $3,265,000 after acquiring an additional 961 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd increased its stake in shares of Roper Technologies by 52.5% in 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 acquiring an additional 1,699 shares in the last quarter. 93.31% of the stock is currently owned by institutional investors.

Roper Technologies Stock Up 1.1 %

ROP stock opened at $575.59 on Tuesday. Roper Technologies, Inc. has a fifty-two week low of $499.47 and a fifty-two week high of $595.17. The business’s 50-day moving average is $558.70 and its two-hundred day moving average is $552.06. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.37 and a current ratio of 0.40. The company has a market cap of $61.81 billion, a price-to-earnings ratio of 40.14, a P/E/G ratio of 2.77 and a beta of 1.06.

Roper Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 22nd. Shareholders of record on Friday, April 4th will be issued a $0.825 dividend. This represents a $3.30 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date of this dividend is Friday, April 4th. Roper Technologies’s dividend payout ratio is 23.01%.

Insider Buying and Selling at Roper Technologies

In other news, CFO Jason Conley sold 3,000 shares of Roper Technologies stock in a transaction dated 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 transaction, the chief financial officer now directly owns 31,522 shares of the company’s stock, valued at $18,540,925.18. The trade was a 8.69 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 completion of the sale, the vice president now directly owns 38,932 shares of the company’s stock, valued at $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 have sold 8,101 shares of company stock valued at $4,712,045. 0.87% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages recently issued reports on ROP. JPMorgan Chase & Co. increased their price target on shares of Roper Technologies from $539.00 to $558.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. Oppenheimer upped their price target on shares of Roper Technologies from $630.00 to $640.00 and gave the stock an “outperform” rating in a research note on Friday, January 31st. Robert W. Baird set a $665.00 price target on shares of Roper Technologies in a research note on Friday, January 31st. Truist Financial reiterated a “buy” rating and issued a $675.00 price target (up previously from $665.00) on shares of Roper Technologies in a research note on Friday, January 31st. Finally, Raymond James reiterated a “strong-buy” rating and issued a $655.00 price target (up previously from $620.00) on shares of Roper Technologies in a research note on Friday, January 31st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, six have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Roper Technologies presently has an average 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.