Munich Reinsurance Co Stock Corp in Munich lessened its holdings in shares of Roper Technologies, Inc. (NASDAQ:ROP – Free Report) by 55.1% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 26,200 shares of the industrial products company’s stock after selling 32,176 shares during the period. Munich Reinsurance Co Stock Corp in Munich’s holdings in Roper Technologies were worth $9,268,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Triumph Capital Management bought a new position in Roper Technologies in the 3rd quarter valued at $25,000. Private Wealth Management Group LLC boosted its holdings in Roper Technologies by 195.8% in the first quarter. Private Wealth Management Group LLC now owns 71 shares of the industrial products company’s stock valued at $25,000 after acquiring an additional 47 shares during the last quarter. Tucker Asset Management LLC bought a new position in Roper Technologies in the fourth quarter valued at about $33,000. Board of the Pension Protection Fund acquired a new stake in Roper Technologies in the fourth quarter worth about $36,000. Finally, Kelleher Financial Advisors bought a new stake in Roper Technologies during the 3rd quarter worth about $40,000. Institutional investors and hedge funds own 93.31% of the company’s stock.
Roper Technologies Stock Performance
Shares of NASDAQ:ROP opened at $354.89 on Thursday. The company has a market capitalization of $35.82 billion, a price-to-earnings ratio of 22.17, a P/E/G ratio of 1.66 and a beta of 0.76. The firm’s 50 day simple moving average is $336.44 and its 200 day simple moving average is $361.55. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.53 and a quick ratio of 0.49. Roper Technologies, Inc. has a fifty-two week low of $305.96 and a fifty-two week high of $571.36.
Roper Technologies Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 22nd. Stockholders of record on Wednesday, July 8th will be issued a $0.91 dividend. The ex-dividend date of this dividend is Wednesday, July 8th. This represents a $3.64 annualized dividend and a dividend yield of 1.0%. Roper Technologies’s payout ratio is 22.74%.
Analyst Upgrades and Downgrades
ROP has been the topic of several recent research reports. Zacks Research lowered shares of Roper Technologies from a “strong-buy” rating to a “hold” rating in a research note on Thursday, June 25th. Piper Sandler boosted their price target on shares of Roper Technologies from $530.00 to $540.00 and gave the stock an “overweight” rating in a research note on Friday, April 24th. Royal Bank Of Canada increased their price objective on shares of Roper Technologies from $393.00 to $407.00 and gave the company a “sector perform” rating in a report on Friday, April 24th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Roper Technologies in a research note on Monday, June 8th. Finally, Barclays dropped their target price on shares of Roper Technologies from $380.00 to $373.00 and set an “underweight” rating for the company in a research report on Friday, April 24th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, seven have issued a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat, Roper Technologies currently has an average rating of “Hold” and an average target price of $472.07.
Read Our Latest Stock Analysis 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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