Magnetar Financial LLC trimmed its holdings in shares of Roper Technologies, Inc. (NASDAQ:ROP – Free Report) by 40.1% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 10,330 shares of the industrial products company’s stock after selling 6,905 shares during the period. Magnetar Financial LLC’s holdings in Roper Technologies were worth $4,598,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Roper Technologies in the 4th quarter worth about $1,112,873,000. Vanguard Group Inc. boosted its holdings in shares of Roper Technologies by 12.5% in the 4th quarter. Vanguard Group Inc. now owns 12,477,100 shares of the industrial products company’s stock worth $5,553,932,000 after purchasing an additional 1,384,656 shares in the last quarter. OpenArc Corporate Advisory LLC purchased a new position in shares of Roper Technologies in the 4th quarter worth about $367,567,000. JPMorgan Chase & Co. boosted its holdings in shares of Roper Technologies by 62.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,585,732 shares of the industrial products company’s stock worth $790,789,000 after purchasing an additional 610,089 shares in the last quarter. Finally, Qube Research & Technologies Ltd boosted its holdings in shares of Roper Technologies by 131.6% in the 3rd quarter. Qube Research & Technologies Ltd now owns 750,800 shares of the industrial products company’s stock worth $374,416,000 after purchasing an additional 426,648 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 Announces Dividend
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%.
Analyst Ratings Changes
A number of equities analysts have recently issued reports on the company. Barclays cut their price objective on Roper Technologies from $380.00 to $373.00 and set an “underweight” rating for the company in a report on Friday, April 24th. Robert W. Baird upped their price objective on Roper Technologies from $464.00 to $470.00 and gave the stock an “outperform” rating in a report on Friday, April 24th. Zacks Research upgraded Roper Technologies from a “hold” rating to a “strong-buy” rating in a report on Wednesday, April 29th. Royal Bank Of Canada upped their price objective on Roper Technologies from $393.00 to $407.00 and gave the stock a “sector perform” rating in a report on Friday, April 24th. Finally, Piper Sandler upped their price objective on Roper Technologies from $530.00 to $540.00 and gave the stock an “overweight” rating in a report on Friday, April 24th. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, six have given a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $472.07.
View Our Latest Research Report on ROP
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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