Corebridge Financial Inc. Reduces Holdings in Roper Technologies, Inc. (NYSE:ROP)

Corebridge Financial Inc. lowered its position in Roper Technologies, Inc. (NYSE:ROP) by 4.2% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 34,325 shares of the industrial products company’s stock after selling 1,512 shares during the quarter. Corebridge Financial Inc.’s holdings in Roper Technologies were worth $17,844,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Roper Technologies by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 10,575,103 shares of the industrial products company’s stock worth $5,497,467,000 after purchasing an additional 72,503 shares during the period. State Street Corp lifted its stake in shares of Roper Technologies by 2.9% during the 3rd quarter. State Street Corp now owns 4,730,427 shares of the industrial products company’s stock valued at $2,632,199,000 after buying an additional 132,575 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Roper Technologies by 2.1% in the 3rd quarter. Geode Capital Management LLC now owns 2,447,026 shares of the industrial products company’s stock worth $1,357,162,000 after buying an additional 51,131 shares during the period. Wellington Management Group LLP grew its stake in Roper Technologies by 87.8% in the 3rd quarter. Wellington Management Group LLP now owns 738,582 shares of the industrial products company’s stock valued at $410,977,000 after buying an additional 345,268 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Roper Technologies by 3.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 673,193 shares of the industrial products company’s stock valued at $349,959,000 after acquiring an additional 24,290 shares during the period. 93.31% of the stock is currently owned by institutional investors.

Roper Technologies Stock Performance

NYSE ROP opened at $576.65 on Tuesday. Roper Technologies, Inc. has a 52-week low of $499.47 and a 52-week high of $595.17. The company has a fifty day moving average of $565.51 and a 200-day moving average of $552.80. The company has a market capitalization of $61.92 billion, a P/E ratio of 40.21, a P/E/G ratio of 2.77 and a beta of 1.06. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.37 and a current ratio of 0.40.

Roper Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 22nd. Stockholders of record on Friday, April 4th will be issued a $0.825 dividend. This represents a $3.30 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date of this dividend is Friday, April 4th. Roper Technologies’s payout ratio is currently 23.01%.

Insider Activity

In other Roper Technologies news, VP John K. Stipancich sold 1,000 shares of the company’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $578.04, for a total transaction of $578,040.00. Following the completion of the sale, the vice president now directly owns 38,932 shares in the company, valued at $22,504,253.28. This represents a 2.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Jason Conley sold 3,000 shares of the firm’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $578.05, for a total value of $1,734,150.00. Following the transaction, the chief financial officer now directly owns 31,522 shares in the company, valued at $18,221,292.10. This trade represents a 8.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 8,101 shares of company stock worth $4,712,045. 0.87% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

ROP has been the subject of several recent research reports. TD Cowen upgraded Roper Technologies from a “hold” rating to a “buy” rating and lifted their price target for the company from $535.00 to $615.00 in a research report on Tuesday, January 28th. Raymond James reaffirmed a “strong-buy” rating and set a $655.00 target price (up previously from $620.00) on shares of Roper Technologies in a report on Friday, January 31st. Truist Financial reissued a “buy” rating and issued a $675.00 price target (up from $665.00) on shares of Roper Technologies in a report on Friday, January 31st. Robert W. Baird set a $665.00 price objective on shares of Roper Technologies in a research note on Friday, January 31st. Finally, Oppenheimer increased their target price on shares of Roper Technologies from $630.00 to $640.00 and gave the stock an “outperform” rating in a research note on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Roper Technologies has a consensus rating of “Moderate Buy” and a consensus target price of $623.60.

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.