Pinebridge Investments L.P. Purchases 20,970 Shares of Roper Technologies, Inc. (NYSE:ROP)

Pinebridge Investments L.P. raised its position in Roper Technologies, Inc. (NYSE:ROP) by 35.2% in the 4th quarter, Holdings Channel.com reports. The firm owned 80,578 shares of the industrial products company’s stock after buying an additional 20,970 shares during the period. Pinebridge Investments L.P.’s holdings in Roper Technologies were worth $41,888,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in ROP. Douglas Lane & Associates LLC boosted its position in Roper Technologies by 18.9% during the 4th quarter. Douglas Lane & Associates LLC now owns 109,656 shares of the industrial products company’s stock worth $57,005,000 after buying an additional 17,466 shares during the period. Synovus Financial Corp raised its stake in shares of Roper Technologies by 19.6% during the third quarter. Synovus Financial Corp now owns 5,867 shares of the industrial products company’s stock valued at $3,265,000 after acquiring an additional 961 shares during the last quarter. Nordea Investment Management AB lifted its holdings in shares of Roper Technologies by 8.5% during the fourth quarter. Nordea Investment Management AB now owns 538,678 shares of the industrial products company’s stock worth $280,113,000 after purchasing an additional 42,016 shares during the period. First Financial Bank Trust Division grew its stake in shares of Roper Technologies by 28.0% in the fourth quarter. First Financial Bank Trust Division now owns 10,722 shares of the industrial products company’s stock worth $5,574,000 after purchasing an additional 2,343 shares during the last quarter. Finally, Signal Advisors Wealth LLC increased its holdings in Roper Technologies by 42.0% in the fourth quarter. Signal Advisors Wealth LLC now owns 5,816 shares of the industrial products company’s stock valued at $3,023,000 after purchasing an additional 1,719 shares during the period. 93.31% of the stock is owned by institutional investors and hedge funds.

Roper Technologies Trading Up 2.2 %

NYSE ROP opened at $551.30 on Wednesday. The company has a quick ratio of 0.37, a current ratio of 0.40 and a debt-to-equity ratio of 0.35. Roper Technologies, Inc. has a 52 week low of $499.47 and a 52 week high of $595.17. The business has a 50 day moving average price of $569.93 and a 200-day moving average price of $554.24. The company has a market cap of $59.20 billion, a price-to-earnings ratio of 38.44, a P/E/G ratio of 2.77 and a beta of 1.04.

Roper Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 22nd. Shareholders of record on Friday, April 4th were issued a dividend of $0.825 per share. The ex-dividend date of this dividend was Friday, April 4th. This represents a $3.30 annualized dividend and a yield of 0.60%. Roper Technologies’s payout ratio is 23.01%.

Insider Buying and Selling at Roper Technologies

In related news, VP John K. Stipancich sold 1,000 shares of the firm’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $578.04, for a total value of $578,040.00. Following the transaction, the vice president now owns 38,932 shares of the company’s stock, valued at approximately $22,504,253.28. This trade represents a 2.50 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Jason Conley sold 3,000 shares of Roper Technologies stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $578.05, for a total value of $1,734,150.00. Following the transaction, the chief financial officer now owns 31,522 shares of the company’s stock, valued at $18,221,292.10. This trade represents a 8.69 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 8,101 shares of company stock valued at $4,712,045. Corporate insiders own 0.87% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on ROP. Robert W. Baird set a $665.00 price target on Roper Technologies in a research report on Friday, January 31st. TD Cowen raised shares of Roper Technologies from a “hold” rating to a “buy” rating and increased their target price for the company from $535.00 to $615.00 in a research report on Tuesday, January 28th. Truist Financial restated a “buy” rating and issued a $675.00 price target (up previously from $665.00) on shares of Roper Technologies in a research report on Friday, January 31st. JPMorgan Chase & Co. decreased their price objective on shares of Roper Technologies from $558.00 to $465.00 and set a “neutral” rating for the company in a research report on Tuesday, April 8th. Finally, Raymond James restated a “strong-buy” rating and issued a $655.00 target price (up previously from $620.00) on shares of Roper Technologies in a report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $620.73.

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.