Fulton Breakefield Broenniman LLC reduced its position in Roper Technologies, Inc. (NASDAQ:ROP – Free Report) by 82.7% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 5,079 shares of the industrial products company’s stock after selling 24,338 shares during the period. Fulton Breakefield Broenniman LLC’s holdings in Roper Technologies were worth $2,533,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of Roper Technologies by 1.7% in the second quarter. Vanguard Group Inc. now owns 10,896,899 shares of the industrial products company’s stock valued at $6,176,798,000 after acquiring an additional 179,646 shares during the period. State Street Corp raised its position in Roper Technologies by 2.1% in the 2nd quarter. State Street Corp now owns 4,940,058 shares of the industrial products company’s stock valued at $2,800,222,000 after purchasing an additional 101,033 shares during the last quarter. Geode Capital Management LLC raised its position in Roper Technologies by 1.1% in the 2nd quarter. Geode Capital Management LLC now owns 2,574,503 shares of the industrial products company’s stock valued at $1,453,557,000 after purchasing an additional 27,386 shares during the last quarter. Norges Bank acquired a new stake in Roper Technologies during the 2nd quarter worth $1,064,718,000. Finally, Invesco Ltd. grew its position in Roper Technologies by 1.2% during the 2nd quarter. Invesco Ltd. now owns 1,496,088 shares of the industrial products company’s stock worth $848,043,000 after purchasing an additional 17,503 shares during the last quarter. Hedge funds and other institutional investors own 93.31% of the company’s stock.
Roper Technologies Stock Performance
Shares of ROP stock opened at $450.83 on Friday. The company has a current ratio of 0.58, a quick ratio of 0.53 and a debt-to-equity ratio of 0.46. The stock has a 50 day simple moving average of $452.00 and a 200-day simple moving average of $506.27. The company has a market cap of $48.53 billion, a price-to-earnings ratio of 31.07, a price-to-earnings-growth ratio of 2.26 and a beta of 0.94. Roper Technologies, Inc. has a 12-month low of $435.42 and a 12-month high of $595.17.
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 given a dividend of $0.91 per share. 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 annualized dividend and a yield of 0.8%. Roper Technologies’s dividend payout ratio (DPR) is currently 22.74%.
Analyst Upgrades and Downgrades
ROP has been the subject of several recent research reports. Raymond James Financial decreased their target price on shares of Roper Technologies from $670.00 to $575.00 and set a “strong-buy” rating for the company in a research note on Friday, October 24th. TD Cowen decreased their price objective on Roper Technologies from $650.00 to $625.00 and set a “buy” rating for the company in a research report on Friday, October 24th. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $541.00 target price (down from $577.00) on shares of Roper Technologies in a research note on Wednesday, October 15th. Stifel Nicolaus set a $550.00 target price on Roper Technologies in a report on Friday, October 24th. Finally, Robert W. Baird set a $592.00 price target on Roper Technologies in a report on Friday, October 24th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $572.14.
Check Out Our Latest Analysis on ROP
Insider Transactions at Roper Technologies
In other news, Director Amy Woods Brinkley acquired 1,200 shares of the company’s stock in a transaction that occurred on Wednesday, November 12th. The stock was purchased at an average cost of $450.71 per share, with a total value of $540,852.00. Following the purchase, the director directly owned 18,184 shares of the company’s stock, valued at approximately $8,195,710.64. This trade represents a 7.07% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Laurence Neil Hunn sold 30,000 shares of the company’s stock in a transaction on Tuesday, November 11th. The shares were 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 trade represents a 25.57% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.78% of the company’s stock.
Roper Technologies Profile
Roper Technologies, Inc (NASDAQ: ROP) is a diversified technology company that acquires and manages businesses delivering specialized software, engineered products and data-driven analytics to niche markets. Its subsidiaries develop enterprise and cloud-based software, scientific and analytical instruments, industrial and medical devices, and other applied technologies designed to solve specific operational, regulatory and commercial challenges for customers. The company emphasizes recurring revenue streams from software licenses, subscriptions and service contracts alongside sales of hardware and instruments.
Roper operates a decentralized operating model in which acquired businesses retain entrepreneurial autonomy while benefiting from centralized capital allocation, legal and financial support.
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