Bank Julius Baer & Co. Ltd Zurich reduced its holdings in shares of Roper Technologies, Inc. (NASDAQ:ROP – Free Report) by 67.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,148 shares of the industrial products company’s stock after selling 10,826 shares during the quarter. Bank Julius Baer & Co. Ltd Zurich’s holdings in Roper Technologies were worth $2,918,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also made changes to their positions in the business. Corbyn Investment Management Inc. MD purchased a new position in Roper Technologies in the 2nd quarter worth approximately $567,000. Vanguard Group Inc. lifted its position in shares of Roper Technologies by 1.7% during the second quarter. Vanguard Group Inc. now owns 10,896,899 shares of the industrial products company’s stock worth $6,176,798,000 after purchasing an additional 179,646 shares in the last quarter. BNP Paribas Financial Markets grew its holdings in Roper Technologies by 20.0% during the 1st quarter. BNP Paribas Financial Markets now owns 383,373 shares of the industrial products company’s stock valued at $226,029,000 after purchasing an additional 63,988 shares in the last quarter. Harvest Fund Management Co. Ltd increased its stake in Roper Technologies by 7.5% during the 1st quarter. Harvest Fund Management Co. Ltd now owns 6,783 shares of the industrial products company’s stock worth $3,998,000 after buying an additional 472 shares during the period. Finally, E Fund Management Co. Ltd. lifted its holdings in Roper Technologies by 57.5% in the 1st quarter. E Fund Management Co. Ltd. now owns 5,593 shares of the industrial products company’s stock worth $3,298,000 after buying an additional 2,042 shares in the last quarter. Institutional investors and hedge funds own 93.31% of the company’s stock.
Roper Technologies Stock Performance
ROP stock opened at $443.75 on Friday. The stock’s 50 day simple moving average is $481.55 and its 200 day simple moving average is $527.76. Roper Technologies, Inc. has a 12-month low of $435.42 and a 12-month high of $595.17. The firm has a market cap of $47.76 billion, a P/E ratio of 30.58, a P/E/G ratio of 2.13 and a beta of 0.98. The company has a current ratio of 0.58, a quick ratio of 0.53 and a debt-to-equity ratio of 0.46.
Roper Technologies Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, January 16th. Shareholders of record on Friday, January 2nd will be paid a $0.91 dividend. The ex-dividend date is Friday, January 2nd. This is an increase from Roper Technologies’s previous quarterly dividend of $0.83. This represents a $3.64 dividend on an annualized basis and a yield of 0.8%. Roper Technologies’s payout ratio is presently 25.09%.
Insider Activity at Roper Technologies
In related news, Director Amy Woods Brinkley acquired 1,200 shares of the stock in a transaction that occurred on Wednesday, November 12th. The stock was purchased at an average cost of $450.71 per share, for a total transaction of $540,852.00. Following the purchase, the director directly owned 18,184 shares in the company, valued at $8,195,710.64. This represents a 7.07% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Laurence Neil Hunn sold 30,000 shares of the stock in a transaction on Tuesday, November 11th. The stock was sold at an average price of $443.57, for a total value of $13,307,100.00. Following the completion of the sale, the chief executive officer directly owned 87,311 shares in the company, valued at $38,728,540.27. This represents a 25.57% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.78% of the stock is currently owned by corporate insiders.
Wall Street Analysts Forecast Growth
A number of brokerages have recently issued reports on ROP. JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $541.00 target price (down from $577.00) on shares of Roper Technologies in a research report on Wednesday, October 15th. Piper Sandler assumed coverage on Roper Technologies in a report on Thursday. They set an “overweight” rating and a $600.00 price objective on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Roper Technologies in a research note on Friday, October 31st. Stifel Nicolaus set a $550.00 price target on shares of Roper Technologies in a research note on Friday, October 24th. Finally, Mizuho reduced their price objective on shares of Roper Technologies from $600.00 to $510.00 and set a “neutral” rating on the stock in a research note on Friday, October 17th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Roper Technologies has an average rating of “Moderate Buy” and an average price target of $579.54.
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.
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