DAVENPORT & Co LLC Raises Holdings in Roper Technologies, Inc. (NYSE:ROP)

DAVENPORT & Co LLC grew its stake in Roper Technologies, Inc. (NYSE:ROP) by 1.2% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 2,637 shares of the industrial products company’s stock after buying an additional 32 shares during the quarter. DAVENPORT & Co LLC’s holdings in Roper Technologies were worth $1,371,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in ROP. State Street Corp lifted its stake in Roper Technologies by 2.9% in the third quarter. State Street Corp now owns 4,730,427 shares of the industrial products company’s stock worth $2,632,199,000 after acquiring an additional 132,575 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Roper Technologies by 2.1% in the 3rd quarter. Geode Capital Management LLC now owns 2,447,026 shares of the industrial products company’s stock valued at $1,357,162,000 after purchasing an additional 51,131 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Roper Technologies by 87.8% during the 3rd quarter. Wellington Management Group LLP now owns 738,582 shares of the industrial products company’s stock worth $410,977,000 after purchasing an additional 345,268 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Roper Technologies by 7.5% during the third quarter. JPMorgan Chase & Co. now owns 662,033 shares of the industrial products company’s stock worth $368,382,000 after purchasing an additional 45,947 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Roper Technologies by 1.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 648,903 shares of the industrial products company’s stock valued at $361,076,000 after buying an additional 9,653 shares during the last quarter. 93.31% of the stock is owned by institutional investors and hedge funds.

Roper Technologies Stock Up 0.6 %

Shares of NYSE:ROP opened at $581.42 on Thursday. Roper Technologies, Inc. has a 1-year low of $499.47 and a 1-year high of $584.31. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.40 and a quick ratio of 0.37. The stock has a market cap of $62.35 billion, a P/E ratio of 40.55, a P/E/G ratio of 2.76 and a beta of 1.05. The firm has a fifty day moving average price of $536.63 and a 200 day moving average price of $544.75.

Wall Street Analysts Forecast Growth

ROP has been the subject of a number of recent analyst reports. Truist Financial reaffirmed a “buy” rating and set a $675.00 price target (up from $665.00) on shares of Roper Technologies in a report on Friday, January 31st. JPMorgan Chase & Co. boosted their target price on Roper Technologies from $539.00 to $558.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. TD Cowen upgraded shares of Roper Technologies from a “hold” rating to a “buy” rating and increased their price target for the company from $535.00 to $615.00 in a research note on Tuesday, January 28th. Robert W. Baird boosted their price objective on shares of Roper Technologies from $635.00 to $652.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Finally, Barclays dropped their target price on shares of Roper Technologies from $569.00 to $562.00 and set an “underweight” rating on the stock in a research report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $622.30.

Insider Activity

In other Roper Technologies news, VP Brandon L. Cross sold 750 shares of the company’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $577.83, for a total transaction of $433,372.50. Following the completion of the transaction, the vice president now owns 1,329 shares in the company, valued at approximately $767,936.07. This represents a 36.08 % decrease in their position. The sale was disclosed in a 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 transaction of $1,734,150.00. Following the completion of the sale, the chief financial officer now directly owns 31,522 shares in the company, valued at approximately $18,221,292.10. The trade was a 8.69 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 5,101 shares of company stock valued at $2,947,475. Insiders own 0.87% of the company’s stock.

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.