Rakuten Investment Management Inc. cut its stake in Roper Technologies, Inc. (NASDAQ:ROP – Free Report) by 7.0% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 19,969 shares of the industrial products company’s stock after selling 1,508 shares during the quarter. Rakuten Investment Management Inc.’s holdings in Roper Technologies were worth $9,003,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Brighton Jones LLC purchased a new position in Roper Technologies during the fourth quarter worth about $203,000. Empowered Funds LLC grew its position in Roper Technologies by 11.7% during the first quarter. Empowered Funds LLC now owns 3,108 shares of the industrial products company’s stock worth $1,832,000 after buying an additional 326 shares in the last quarter. Cary Street Partners Financial LLC purchased a new position in Roper Technologies during the second quarter worth about $137,000. Nebula Research & Development LLC purchased a new position in Roper Technologies during the second quarter worth about $977,000. Finally, Sei Investments Co. grew its position in Roper Technologies by 22.6% during the second quarter. Sei Investments Co. now owns 61,621 shares of the industrial products company’s stock worth $34,928,000 after buying an additional 11,372 shares in the last quarter. 93.31% of the stock is currently owned by hedge funds and other institutional investors.
Roper Technologies Trading Up 1.5%
NASDAQ ROP opened at $337.33 on Wednesday. Roper Technologies, Inc. has a 1-year low of $305.96 and a 1-year high of $575.77. The company has a current ratio of 0.53, a quick ratio of 0.49 and a debt-to-equity ratio of 0.52. The stock has a 50-day moving average of $341.07 and a 200-day moving average of $373.12. The firm has a market cap of $34.04 billion, a PE ratio of 21.07, a price-to-earnings-growth ratio of 1.52 and a beta of 0.77.
Roper Technologies Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 22nd. Stockholders of record on Wednesday, July 8th will be paid a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Wednesday, July 8th. Roper Technologies’s payout ratio is 22.74%.
Wall Street Analyst Weigh In
Several equities analysts recently commented on ROP shares. Robert W. Baird boosted their target price on Roper Technologies from $464.00 to $470.00 and gave the stock an “outperform” rating in a research report on Friday, April 24th. Zacks Research upgraded Roper Technologies from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, April 29th. Royal Bank Of Canada boosted their target price on Roper Technologies from $393.00 to $407.00 and gave the stock a “sector perform” rating in a research report on Friday, April 24th. Piper Sandler lifted their price target on Roper Technologies from $530.00 to $540.00 and gave the stock an “overweight” rating in a research note on Friday, April 24th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Roper Technologies in a research note on Monday, June 8th. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, six have given a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $472.07.
View 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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