Chevy Chase Trust Holdings LLC Cuts Stake in Roper Technologies, Inc. (NYSE:ROP)

Chevy Chase Trust Holdings LLC lessened its stake in shares of Roper Technologies, Inc. (NYSE:ROP - Free Report) by 2.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 183,274 shares of the industrial products company's stock after selling 4,961 shares during the quarter. Chevy Chase Trust Holdings LLC owned approximately 0.17% of Roper Technologies worth $95,275,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. State Street Corp grew its position in shares of Roper Technologies by 2.9% in the 3rd quarter. State Street Corp now owns 4,730,427 shares of the industrial products company's stock worth $2,632,199,000 after buying an additional 132,575 shares during the last quarter. Geode Capital Management LLC grew its holdings in Roper Technologies by 2.1% in the third quarter. Geode Capital Management LLC now owns 2,447,026 shares of the industrial products company's stock worth $1,357,162,000 after purchasing an additional 51,131 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Roper Technologies by 87.8% during the third quarter. Wellington Management Group LLP now owns 738,582 shares of the industrial products company's stock worth $410,977,000 after purchasing an additional 345,268 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Roper Technologies by 7.5% during the third quarter. JPMorgan Chase & Co. now owns 662,033 shares of the industrial products company's stock worth $368,382,000 after purchasing an additional 45,947 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Roper Technologies by 1.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 648,903 shares of the industrial products company's stock worth $361,076,000 after purchasing an additional 9,653 shares in the last quarter. 93.31% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. TD Cowen raised Roper Technologies from a "hold" rating to a "buy" rating and upped their target price for the company from $535.00 to $615.00 in a research report on Tuesday, January 28th. 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 report on Friday, January 31st. Truist Financial reissued a "buy" rating and set a $675.00 target price (up previously from $665.00) on shares of Roper Technologies in a research report on Friday, January 31st. Robert W. Baird raised their price target on shares of Roper Technologies from $635.00 to $652.00 and gave the stock an "outperform" rating in a report on Thursday, October 24th. Finally, Raymond James reissued a "strong-buy" rating and set a $655.00 price objective (up from $620.00) on shares of Roper Technologies in a report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $622.30.

Insider Buying and Selling

In other news, Director Richard F. Wallman sold 351 shares of the firm's stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $575.25, for a total transaction of $201,912.75. Following the sale, the director now directly owns 20,187 shares in the company, valued at $11,612,571.75. This trade represents a 1.71 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Brandon L. Cross sold 750 shares of the company's stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $577.83, for a total value of $433,372.50. Following the completion of the transaction, the vice president now directly owns 1,329 shares of the company's stock, valued at $767,936.07. The trade was a 36.08 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,101 shares of company stock valued at $2,947,475 over the last ninety days. Company insiders own 0.87% of the company's stock.

Roper Technologies Stock Performance

Shares of NYSE ROP traded down $1.05 during trading on Tuesday, reaching $572.53. 550,796 shares of the company traded hands, compared to its average volume of 664,535. The stock has a market cap of $61.39 billion, a P/E ratio of 39.93, a PEG ratio of 2.78 and a beta of 1.05. The firm's fifty day simple moving average is $538.96 and its 200 day simple moving average is $546.37. The company has a current ratio of 0.40, a quick ratio of 0.37 and a debt-to-equity ratio of 0.35. Roper Technologies, Inc. has a 12-month low of $499.47 and a 12-month high of $584.43.

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.