Arrowstreet Capital Limited Partnership grew its position in Roper Technologies, Inc. (NASDAQ:ROP – Free Report) by 119.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 436,487 shares of the industrial products company’s stock after purchasing an additional 237,464 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Roper Technologies were worth $194,293,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also recently modified their holdings of the company. CIBC Bancorp USA Inc. bought a new position in shares of Roper Technologies during the third quarter worth $10,053,000. Dimensional Fund Advisors LP raised its stake in Roper Technologies by 6.2% during the third quarter. Dimensional Fund Advisors LP now owns 525,245 shares of the industrial products company’s stock valued at $261,945,000 after purchasing an additional 30,819 shares in the last quarter. Empire Life Investments Inc. raised its stake in Roper Technologies by 38.5% during the fourth quarter. Empire Life Investments Inc. now owns 45,517 shares of the industrial products company’s stock valued at $20,261,000 after purchasing an additional 12,645 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Roper Technologies by 19.9% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 53,098 shares of the industrial products company’s stock valued at $23,636,000 after acquiring an additional 8,799 shares during the period. Finally, Vanguard Group Inc. increased its stake in Roper Technologies by 12.5% in the 4th quarter. Vanguard Group Inc. now owns 12,477,100 shares of the industrial products company’s stock worth $5,553,932,000 after buying an additional 1,384,656 shares during the period. Institutional investors own 93.31% of the company’s stock.
Roper Technologies Stock Performance
Shares of Roper Technologies stock opened at $334.97 on Monday. The firm has a market capitalization of $33.81 billion, a P/E ratio of 20.92, a PEG ratio of 1.53 and a beta of 0.77. The company has a quick ratio of 0.49, a current ratio of 0.53 and a debt-to-equity ratio of 0.52. The company has a 50 day moving average price of $341.99 and a 200 day moving average price of $374.69. Roper Technologies, Inc. has a 52 week low of $305.96 and a 52 week high of $575.77.
Roper Technologies Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 22nd. Shareholders of record on Wednesday, July 8th will be given a dividend of $0.91 per share. The ex-dividend date of this dividend is Wednesday, July 8th. This represents a $3.64 dividend on an annualized basis and a yield of 1.1%. Roper Technologies’s dividend payout ratio (DPR) is currently 22.74%.
Analyst Upgrades and Downgrades
Several research analysts recently commented on ROP shares. Barclays reduced their price target on shares of Roper Technologies from $380.00 to $373.00 and set an “underweight” rating on the stock in a research note on Friday, April 24th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Roper Technologies in a research note on Monday, June 8th. Robert W. Baird raised their price target on shares of Roper Technologies from $464.00 to $470.00 and gave the stock an “outperform” rating in a research note on Friday, April 24th. Zacks Research raised shares of Roper Technologies from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, April 29th. Finally, Piper Sandler raised their price target on shares of Roper Technologies from $530.00 to $540.00 and gave the stock an “overweight” rating in a research note on Friday, April 24th. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, six have given a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat.com, Roper Technologies has a consensus rating of “Hold” and an average target price of $472.07.
Check Out Our Latest Research Report on ROP
Roper Technologies Company Profile
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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