Corbyn Investment Management Inc. MD increased its holdings in shares of Roper Technologies, Inc. (NASDAQ:ROP – Free Report) by 159.6% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 2,599 shares of the industrial products company’s stock after purchasing an additional 1,598 shares during the period. Corbyn Investment Management Inc. MD’s holdings in Roper Technologies were worth $1,296,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Asset Dedication LLC increased its position in Roper Technologies by 800.0% in the 2nd quarter. Asset Dedication LLC now owns 45 shares of the industrial products company’s stock worth $26,000 after buying an additional 40 shares during the period. Vermillion & White Wealth Management Group LLC grew its stake in shares of Roper Technologies by 89.3% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 53 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 25 shares during the last quarter. CoreFirst Bank & Trust bought a new position in Roper Technologies during the second quarter worth $39,000. J.Safra Asset Management Corp raised its stake in Roper Technologies by 222.7% during the 2nd quarter. J.Safra Asset Management Corp now owns 71 shares of the industrial products company’s stock valued at $40,000 after purchasing an additional 49 shares during the last quarter. Finally, Westside Investment Management Inc. boosted its holdings in Roper Technologies by 242.9% in the 2nd quarter. Westside Investment Management Inc. now owns 72 shares of the industrial products company’s stock valued at $41,000 after purchasing an additional 51 shares during the period. Institutional investors and hedge funds own 93.31% of the company’s stock.
Roper Technologies Stock Down 0.7%
NASDAQ ROP opened at $431.66 on Tuesday. Roper Technologies, Inc. has a 1-year low of $427.89 and a 1-year high of $595.17. The company has a market capitalization of $46.46 billion, a price-to-earnings ratio of 29.75, a PEG ratio of 2.03 and a beta of 0.94. The stock’s 50 day moving average is $446.11 and its two-hundred day moving average is $500.33. The company has a current ratio of 0.58, a quick ratio of 0.53 and a debt-to-equity ratio of 0.46.
Roper Technologies Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, January 16th. Stockholders of record on Friday, January 2nd will be paid a $0.91 dividend. The ex-dividend date is Friday, January 2nd. This represents a $3.64 annualized dividend and a dividend yield of 0.8%. This is a boost from Roper Technologies’s previous quarterly dividend of $0.83. Roper Technologies’s dividend payout ratio is presently 25.09%.
Analyst Upgrades and Downgrades
ROP has been the topic of several research reports. Jefferies Financial Group dropped their price objective on shares of Roper Technologies from $650.00 to $600.00 and set a “buy” rating on the stock in a report on Monday. Piper Sandler began coverage on Roper Technologies in a research report on Thursday, November 20th. They set an “overweight” rating and a $600.00 target price on the stock. Robert W. Baird set a $592.00 price target on Roper Technologies in a report on Friday, October 24th. JPMorgan Chase & Co. reissued an “underweight” rating and set a $541.00 price objective (down previously from $577.00) on shares of Roper Technologies in a report on Wednesday, October 15th. Finally, Barclays lowered their price objective on Roper Technologies from $506.00 to $475.00 and set an “underweight” rating on the stock in a research report on Thursday, December 4th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, three have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, Roper Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $562.07.
View Our Latest Stock Report on Roper Technologies
Insider Transactions at Roper Technologies
In other news, CEO Laurence Neil Hunn acquired 10,000 shares of the company’s stock in a transaction dated Wednesday, November 12th. The stock was bought at an average price of $452.23 per share, with a total value of $4,522,300.00. Following the completion of the acquisition, the chief executive officer owned 97,311 shares in the company, valued at approximately $44,006,953.53. This represents a 11.45% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Amy Woods Brinkley bought 1,200 shares of the business’s stock in a transaction dated Wednesday, November 12th. The stock was purchased at an average price of $450.71 per share, with a total value of $540,852.00. Following the purchase, the director directly owned 18,184 shares of the company’s stock, valued at $8,195,710.64. The trade was a 7.07% increase in their position. The SEC filing for this purchase provides additional information. Company insiders own 0.87% of the company’s stock.
About Roper Technologies
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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