AlphaQuest LLC Purchases New Stake in Roper Technologies, Inc. (NYSE:ROP)

AlphaQuest LLC purchased a new stake in shares of Roper Technologies, Inc. (NYSE:ROP) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 1,729 shares of the industrial products company’s stock, valued at approximately $899,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. raised its holdings in Roper Technologies by 5.4% during the 3rd quarter. PNC Financial Services Group Inc. now owns 34,652 shares of the industrial products company’s stock valued at $19,282,000 after buying an additional 1,789 shares during the last quarter. Citigroup Inc. raised its holdings in Roper Technologies by 17.6% during the 3rd quarter. Citigroup Inc. now owns 190,587 shares of the industrial products company’s stock valued at $106,050,000 after buying an additional 28,555 shares during the last quarter. Douglas Lane & Associates LLC raised its holdings in Roper Technologies by 18.9% during the 4th quarter. Douglas Lane & Associates LLC now owns 109,656 shares of the industrial products company’s stock valued at $57,005,000 after buying an additional 17,466 shares during the last quarter. Synovus Financial Corp raised its holdings in Roper Technologies by 19.6% during the 3rd quarter. Synovus Financial Corp now owns 5,867 shares of the industrial products company’s stock valued at $3,265,000 after buying an additional 961 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd raised its holdings in Roper Technologies by 52.5% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 4,938 shares of the industrial products company’s stock valued at $2,747,000 after buying an additional 1,699 shares during the last quarter. 93.31% of the stock is currently owned by institutional investors.

Roper Technologies Stock Performance

Shares of ROP stock opened at $576.45 on Tuesday. Roper Technologies, Inc. has a one year low of $499.47 and a one year high of $595.17. The company’s 50-day moving average is $553.41 and its 200 day moving average is $551.43. The company has a market capitalization of $61.90 billion, a price-to-earnings ratio of 40.20, a price-to-earnings-growth 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 Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 22nd. Investors of record on Friday, April 4th will be given a dividend of $0.825 per share. This represents a $3.30 annualized dividend and a yield of 0.57%. The ex-dividend date of this dividend is Friday, April 4th. Roper Technologies’s dividend payout ratio (DPR) is 23.01%.

Analyst Upgrades and Downgrades

ROP has been the subject of several research reports. Barclays decreased their price objective on shares of Roper Technologies from $569.00 to $562.00 and set an “underweight” rating for the company in a report on Wednesday, January 8th. JPMorgan Chase & Co. upped their price objective on shares of Roper Technologies from $539.00 to $558.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Robert W. Baird set a $665.00 price objective on shares of Roper Technologies in a report on Friday, January 31st. Raymond James restated a “strong-buy” rating and issued a $655.00 price objective (up from $620.00) on shares of Roper Technologies in a report on Friday, January 31st. Finally, Truist Financial restated a “buy” rating and issued a $675.00 price objective (up from $665.00) on shares of Roper Technologies in a report on Friday, January 31st. One research analyst has rated the stock with a sell rating, three have issued a hold rating, six have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Roper Technologies has an average rating of “Moderate Buy” and an average price target of $623.60.

Insider Transactions at Roper Technologies

In other news, CFO Jason Conley sold 3,000 shares of Roper Technologies stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $588.19, for a total value of $1,764,570.00. Following the completion of the sale, the chief financial officer now directly owns 31,522 shares in the company, valued at $18,540,925.18. The trade was a 8.69 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Brandon L. Cross sold 750 shares of Roper Technologies stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $577.83, for a total transaction of $433,372.50. Following the completion of the sale, the vice president now owns 1,329 shares of the company’s stock, valued at $767,936.07. This represents a 36.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 8,101 shares of company stock worth $4,712,045 over the last three months. 0.87% of the stock is currently owned by company insiders.

About Roper Technologies

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.