Pitcairn Co. Sells 73 Shares of Roper Technologies, Inc. (NYSE:ROP)

Pitcairn Co. decreased its holdings in shares of Roper Technologies, Inc. (NYSE:ROP) by 3.3% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 2,114 shares of the industrial products company’s stock after selling 73 shares during the period. Pitcairn Co.’s holdings in Roper Technologies were worth $1,099,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of ROP. ExodusPoint Capital Management LP boosted its position in Roper Technologies by 67.7% in the 4th quarter. ExodusPoint Capital Management LP now owns 12,601 shares of the industrial products company’s stock valued at $6,551,000 after buying an additional 5,087 shares during the period. Motley Fool Asset Management LLC increased its position in shares of Roper Technologies by 11.2% during the fourth quarter. Motley Fool Asset Management LLC now owns 4,798 shares of the industrial products company’s stock worth $2,494,000 after acquiring an additional 485 shares during the period. World Investment Advisors raised its stake in shares of Roper Technologies by 1.9% during the fourth quarter. World Investment Advisors now owns 7,249 shares of the industrial products company’s stock valued at $3,768,000 after acquiring an additional 138 shares in the last quarter. Bryce Point Capital LLC purchased a new stake in shares of Roper Technologies in the fourth quarter valued at approximately $1,440,000. Finally, Massachusetts Financial Services Co. MA grew its stake in Roper Technologies by 2.9% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 24,671 shares of the industrial products company’s stock worth $12,825,000 after purchasing an additional 706 shares in the last quarter. 93.31% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, VP Brandon L. Cross sold 750 shares of the company’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $577.83, for a total value of $433,372.50. Following the transaction, the vice president now directly owns 1,329 shares of the company’s stock, valued at $767,936.07. This represents a 36.08 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP John K. Stipancich sold 1,000 shares of the firm’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $578.04, for a total value of $578,040.00. Following the completion of the transaction, the vice president now owns 38,932 shares of the company’s stock, valued at $22,504,253.28. This trade represents a 2.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 8,101 shares of company stock worth $4,712,045 over the last 90 days. 0.87% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Robert W. Baird set a $665.00 target price on Roper Technologies in a research report on Friday, January 31st. TD Cowen upgraded shares of Roper Technologies from a “hold” rating to a “buy” rating and increased their target price for the stock from $535.00 to $615.00 in a report on Tuesday, January 28th. Raymond James reissued a “strong-buy” rating and set a $655.00 target price (up previously from $620.00) on shares of Roper Technologies in a research report on Friday, January 31st. JPMorgan Chase & Co. increased their price objective on shares of Roper Technologies from $539.00 to $558.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Finally, Truist Financial reissued a “buy” rating and issued a $675.00 price objective (up previously from $665.00) on shares of Roper Technologies in a research note on Friday, January 31st. One investment analyst has rated the stock with a sell rating, three have given a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $629.18.

Roper Technologies Stock Down 6.5 %

Roper Technologies stock opened at $541.80 on Friday. Roper Technologies, Inc. has a 1-year low of $499.47 and a 1-year high of $595.17. The business has a fifty day moving average price of $575.65 and a 200-day moving average price of $554.61. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.40 and a quick ratio of 0.37. The stock has a market capitalization of $58.18 billion, a price-to-earnings ratio of 37.78, a PEG ratio of 2.77 and a beta of 1.06.

Roper Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 22nd. Stockholders of record on Friday, April 4th will be paid a dividend of $0.825 per share. 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 0.61%. Roper Technologies’s payout ratio is 23.01%.

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.