Roper Technologies, Inc. (NYSE:ROP) Position Reduced by Franklin Resources Inc.

Franklin Resources Inc. cut its stake in Roper Technologies, Inc. (NYSE:ROP - Free Report) by 34.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,996,183 shares of the industrial products company's stock after selling 1,058,032 shares during the quarter. Franklin Resources Inc. owned about 1.86% of Roper Technologies worth $1,037,716,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of ROP. D.A. Davidson & CO. boosted its holdings in Roper Technologies by 11.9% in the 3rd quarter. D.A. Davidson & CO. now owns 1,488 shares of the industrial products company's stock worth $828,000 after acquiring an additional 158 shares during the period. Townsquare Capital LLC boosted its stake in shares of Roper Technologies by 8.5% in the third quarter. Townsquare Capital LLC now owns 2,053 shares of the industrial products company's stock valued at $1,142,000 after purchasing an additional 160 shares during the period. Financial Counselors Inc. increased its stake in Roper Technologies by 27.3% during the 3rd quarter. Financial Counselors Inc. now owns 503 shares of the industrial products company's stock worth $280,000 after buying an additional 108 shares during the period. Wasatch Advisors LP grew its stake in shares of Roper Technologies by 9.2% during the third quarter. Wasatch Advisors LP now owns 7,258 shares of the industrial products company's stock valued at $4,039,000 after acquiring an additional 613 shares in the last quarter. Finally, Erste Asset Management GmbH purchased a new stake in shares of Roper Technologies during the third quarter worth about $2,769,000. Institutional investors and hedge funds own 93.31% of the company's stock.

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Wall Street Analyst Weigh In

ROP has been the topic of several analyst reports. TD Cowen upgraded Roper Technologies from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $535.00 to $615.00 in a report on Tuesday, January 28th. Robert W. Baird set a $665.00 price target on shares of Roper Technologies in a report on Friday, January 31st. Truist Financial reissued a "buy" rating and set a $675.00 price objective (up from $665.00) on shares of Roper Technologies in a report on Friday, January 31st. Oppenheimer upped their target price on shares of Roper Technologies from $630.00 to $640.00 and gave the company an "outperform" rating in a research note on Friday, January 31st. Finally, Raymond James reissued 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. One investment analyst has rated the stock with a sell rating, three have given a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $629.18.

Roper Technologies Stock Performance

ROP stock traded down $10.66 during mid-day trading on Thursday, reaching $579.70. The company had a trading volume of 993,636 shares, compared to its average volume of 540,482. The stock's 50-day simple moving average is $574.51 and its two-hundred day simple moving average is $554.54. The stock has a market capitalization of $62.25 billion, a P/E ratio of 40.43, a P/E/G ratio of 2.77 and a beta of 1.06. The company has a quick ratio of 0.37, a current ratio of 0.40 and a debt-to-equity ratio of 0.35. Roper Technologies, Inc. has a one year low of $499.47 and a one year high of $595.17.

Roper Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 22nd. Shareholders of record on Friday, April 4th will be paid a dividend of $0.825 per share. This represents a $3.30 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date is Friday, April 4th. Roper Technologies's payout ratio is 23.01%.

Insiders Place Their Bets

In related news, CFO Jason Conley sold 3,000 shares of the stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $588.19, for a total value of $1,764,570.00. Following the completion of the transaction, the chief financial officer now directly owns 31,522 shares of the company's stock, valued at $18,540,925.18. This represents a 8.69 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Richard F. Wallman sold 351 shares of the firm's stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $575.25, for a total value of $201,912.75. Following the completion of the sale, the director now owns 20,187 shares in the company, valued at approximately $11,612,571.75. This represents a 1.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 8,101 shares of company stock worth $4,712,045. Insiders own 0.87% of the company's stock.

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.