Peninsula Asset Management Inc. Reduces Stock Position in Roper Technologies, Inc. (NYSE:ROP)

Peninsula Asset Management Inc. lowered its stake in shares of Roper Technologies, Inc. (NYSE:ROP) by 1.7% in the fourth quarter, Holdings Channel reports. The institutional investor owned 7,452 shares of the industrial products company’s stock after selling 130 shares during the quarter. Roper Technologies accounts for approximately 2.1% of Peninsula Asset Management Inc.’s portfolio, making the stock its 19th biggest position. Peninsula Asset Management Inc.’s holdings in Roper Technologies were worth $3,874,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in ROP. Haverford Trust Co raised its stake in shares of Roper Technologies by 18.2% in the 3rd quarter. Haverford Trust Co now owns 1,525 shares of the industrial products company’s stock valued at $849,000 after purchasing an additional 235 shares in the last quarter. Oppenheimer & Co. Inc. lifted its holdings in Roper Technologies by 2.2% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 5,277 shares of the industrial products company’s stock worth $2,936,000 after buying an additional 115 shares during the last quarter. KBC Group NV grew its position in shares of Roper Technologies by 3.5% in the 3rd quarter. KBC Group NV now owns 66,559 shares of the industrial products company’s stock worth $37,036,000 after acquiring an additional 2,239 shares in the last quarter. Metis Global Partners LLC increased its holdings in shares of Roper Technologies by 4.2% in the 3rd quarter. Metis Global Partners LLC now owns 4,522 shares of the industrial products company’s stock valued at $2,516,000 after acquiring an additional 184 shares during the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. raised its position in shares of Roper Technologies by 12.0% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 2,753 shares of the industrial products company’s stock valued at $1,532,000 after acquiring an additional 295 shares in the last quarter. Institutional investors own 93.31% of the company’s stock.

Roper Technologies Trading Up 1.1 %

Shares of ROP stock opened at $569.29 on Friday. The company has a quick ratio of 0.37, a current ratio of 0.40 and a debt-to-equity ratio of 0.35. The stock has a 50-day simple moving average of $557.33 and a 200 day simple moving average of $551.89. Roper Technologies, Inc. has a fifty-two week low of $499.47 and a fifty-two week high of $595.17. The stock has a market capitalization of $61.13 billion, a P/E ratio of 39.70, a P/E/G ratio of 2.77 and a beta of 1.06.

Roper Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 22nd. Investors of record on Friday, April 4th will be issued a $0.825 dividend. The ex-dividend date of this dividend is Friday, April 4th. This represents a $3.30 dividend on an annualized basis and a dividend yield of 0.58%. Roper Technologies’s payout ratio is currently 23.01%.

Analyst Ratings Changes

ROP has been the subject of several recent research reports. Truist Financial reiterated a “buy” rating and set a $675.00 target price (up previously from $665.00) on shares of Roper Technologies in a research note on Friday, January 31st. Oppenheimer boosted their price objective on shares of Roper Technologies from $630.00 to $640.00 and gave the company an “outperform” rating in a research report on Friday, January 31st. JPMorgan Chase & Co. raised their target price on shares of Roper Technologies from $539.00 to $558.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Robert W. Baird set a $665.00 target price on Roper Technologies in a report on Friday, January 31st. Finally, Raymond James reissued a “strong-buy” rating and issued a $655.00 price target (up previously from $620.00) on shares of Roper Technologies in a report on Friday, January 31st. One analyst has rated the stock with a sell rating, three have assigned a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $623.60.

Insider Activity at Roper Technologies

In related news, CFO Jason Conley sold 3,000 shares of Roper Technologies stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $588.19, for a total value of $1,764,570.00. Following the transaction, the chief financial officer now owns 31,522 shares of the company’s stock, valued at approximately $18,540,925.18. This trade represents a 8.69 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Richard F. Wallman sold 351 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $575.25, for a total transaction of $201,912.75. Following the completion of the sale, the director now owns 20,187 shares of the company’s stock, valued at approximately $11,612,571.75. This trade represents a 1.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 8,101 shares of company stock valued at $4,712,045 over the last ninety days. 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.