Comerica Bank cut its stake in Roper Technologies, Inc. (NASDAQ:ROP – Free Report) by 3.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 38,007 shares of the industrial products company’s stock after selling 1,534 shares during the quarter. Comerica Bank’s holdings in Roper Technologies were worth $16,918,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also modified their holdings of ROP. Field & Main Bank acquired a new position in shares of Roper Technologies in the third quarter worth $25,000. Triumph Capital Management bought a new stake in Roper Technologies in the third quarter worth $25,000. Board of the Pension Protection Fund bought a new stake in Roper Technologies in the fourth quarter worth $36,000. Quent Capital LLC bought a new stake in Roper Technologies in the third quarter worth $37,000. Finally, Kelleher Financial Advisors bought a new stake in Roper Technologies in the third quarter worth $40,000. 93.31% of the stock is owned by institutional investors and hedge funds.
Roper Technologies Stock Up 0.5%
ROP stock opened at $354.12 on Wednesday. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.53 and a quick ratio of 0.49. Roper Technologies, Inc. has a 52-week low of $313.07 and a 52-week high of $584.03. The company has a 50-day moving average of $352.81 and a two-hundred day moving average of $403.57. The stock has a market capitalization of $36.25 billion, a price-to-earnings ratio of 22.12, a price-to-earnings-growth ratio of 1.61 and a beta of 0.89.
Roper Technologies Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, April 22nd. Shareholders of record on Monday, April 6th were issued a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date was Monday, April 6th. Roper Technologies’s dividend payout ratio is 22.74%.
Insider Transactions at Roper Technologies
In other news, Director Thomas Patrick Joyce, Jr. purchased 1,400 shares of the firm’s stock in a transaction on Friday, February 6th. The stock was bought at an average cost of $358.46 per share, for a total transaction of $501,844.00. Following the completion of the acquisition, the director directly owned 1,400 shares of the company’s stock, valued at approximately $501,844. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.80% of the stock is owned by company insiders.
Analyst Ratings Changes
A number of brokerages recently issued reports on ROP. Oppenheimer reiterated a “market perform” rating on shares of Roper Technologies in a report on Wednesday, January 28th. Jefferies Financial Group set a $500.00 price objective on shares of Roper Technologies in a report on Wednesday, January 28th. Stifel Nicolaus reiterated a “hold” rating and issued a $385.00 price objective (down from $550.00) on shares of Roper Technologies in a report on Tuesday, January 27th. Weiss Ratings lowered shares of Roper Technologies from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, March 11th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Roper Technologies from $457.00 to $397.00 and set an “underweight” rating for the company in a research note on Wednesday, January 28th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, six have assigned a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $472.07.
View Our Latest Stock Analysis on Roper Technologies
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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