Fifth Third Bancorp increased its stake in shares of Roper Technologies, Inc. (NASDAQ:ROP – Free Report) by 163.9% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 31,210 shares of the industrial products company’s stock after acquiring an additional 19,384 shares during the quarter. Fifth Third Bancorp’s holdings in Roper Technologies were worth $11,044,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Triumph Capital Management bought a new position in shares of Roper Technologies during the 3rd quarter valued at approximately $25,000. Private Wealth Management Group LLC grew its stake in Roper Technologies by 195.8% in the first quarter. Private Wealth Management Group LLC now owns 71 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 47 shares in the last quarter. Tucker Asset Management LLC purchased a new position in shares of Roper Technologies during the fourth quarter valued at $33,000. Board of the Pension Protection Fund purchased a new position in Roper Technologies during the 4th quarter valued at about $36,000. Finally, Kelleher Financial Advisors bought a new position in Roper Technologies in the third quarter worth approximately $40,000. Hedge funds and other institutional investors own 93.31% of the company’s stock.
Roper Technologies Stock Performance
NASDAQ ROP opened at $346.65 on Wednesday. The stock’s fifty day moving average is $336.40 and its two-hundred day moving average is $358.90. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.49 and a current ratio of 0.53. The firm has a market capitalization of $34.98 billion, a P/E ratio of 21.65, a price-to-earnings-growth ratio of 1.64 and a beta of 0.76. Roper Technologies, Inc. has a fifty-two week low of $305.96 and a fifty-two week high of $566.24.
Roper Technologies Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 22nd. Stockholders of record on Wednesday, July 8th will be issued a dividend of $0.91 per share. The ex-dividend date is Wednesday, July 8th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 1.1%. Roper Technologies’s dividend payout ratio is currently 22.74%.
Wall Street Analyst Weigh In
ROP has been the subject of several analyst reports. Piper Sandler increased their price target on shares of Roper Technologies from $530.00 to $540.00 and gave the company an “overweight” rating in a research report on Friday, April 24th. Barclays cut their price objective on Roper Technologies from $380.00 to $373.00 and set an “underweight” rating on the stock in a report on Friday, April 24th. Robert W. Baird raised their target price on shares of Roper Technologies from $464.00 to $470.00 and gave the stock an “outperform” rating in a report on Friday, April 24th. Royal Bank Of Canada boosted their price target on Roper Technologies from $393.00 to $407.00 and gave the company a “sector perform” rating in a report on Friday, April 24th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Roper Technologies in a research report on Monday, June 8th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, eight have issued a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $467.12.
Check Out Our Latest Report on Roper Technologies
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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