JPMorgan Chase & Co. Issues Positive Forecast for Roper Technologies (NYSE:ROP) Stock Price

Roper Technologies (NYSE:ROP) had its price target boosted by JPMorgan Chase & Co. from $539.00 to $558.00 in a research report released on Friday morning,Benzinga reports. The brokerage currently has a neutral rating on the industrial products company’s stock.

A number of other research analysts also recently commented on the stock. Truist Financial reiterated a “buy” rating and set a $665.00 price objective (up from $660.00) on shares of Roper Technologies in a research note on Thursday, October 24th. Royal Bank of Canada dropped their price objective on shares of Roper Technologies from $675.00 to $666.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. TD Cowen upgraded shares of Roper Technologies from a “hold” rating to a “buy” rating and raised their price objective for the company from $535.00 to $615.00 in a research report on Tuesday, January 28th. Barclays decreased their price target on shares of Roper Technologies from $569.00 to $562.00 and set an “underweight” rating for the company in a report on Wednesday, January 8th. Finally, Mizuho lifted their price target on shares of Roper Technologies from $530.00 to $565.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $622.30.

Roper Technologies Price Performance

Roper Technologies stock opened at $575.65 on Friday. The firm has a market capitalization of $61.73 billion, a P/E ratio of 42.11, a PEG ratio of 2.60 and a beta of 1.04. The firm has a fifty day moving average of $535.93 and a 200-day moving average of $544.83. The company has a quick ratio of 0.44, a current ratio of 0.48 and a debt-to-equity ratio of 0.41. Roper Technologies has a 52-week low of $499.47 and a 52-week high of $584.31.

Roper Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Friday, January 3rd were issued a dividend of $0.825 per share. This is a boost from Roper Technologies’s previous quarterly dividend of $0.75. This represents a $3.30 annualized dividend and a yield of 0.57%. The ex-dividend date was Friday, January 3rd. Roper Technologies’s payout ratio is currently 24.14%.

Institutional Trading of Roper Technologies

Institutional investors and hedge funds have recently modified their holdings of the stock. PNC Financial Services Group Inc. increased its stake in shares of Roper Technologies by 5.4% in the 3rd quarter. PNC Financial Services Group Inc. now owns 34,652 shares of the industrial products company’s stock valued at $19,282,000 after acquiring an additional 1,789 shares during the last quarter. Citigroup Inc. increased its stake in shares of Roper Technologies by 17.6% in the 3rd quarter. Citigroup Inc. now owns 190,587 shares of the industrial products company’s stock valued at $106,050,000 after acquiring an additional 28,555 shares during the last quarter. Douglas Lane & Associates LLC increased its stake in shares of Roper Technologies by 18.9% in the 4th quarter. Douglas Lane & Associates LLC now owns 109,656 shares of the industrial products company’s stock valued at $57,005,000 after acquiring an additional 17,466 shares during the last quarter. Synovus Financial Corp increased its stake in shares of Roper Technologies by 19.6% in the 3rd 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. Finally, Nordea Investment Management AB grew its position in shares of Roper Technologies by 8.5% in the 4th quarter. Nordea Investment Management AB now owns 538,678 shares of the industrial products company’s stock valued at $280,113,000 after purchasing an additional 42,016 shares during the period. 93.31% of the stock is owned by institutional investors.

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.