Roper Technologies, Inc. (NYSE:ROP) Shares Sold by King Luther Capital Management Corp

King Luther Capital Management Corp decreased its position in Roper Technologies, Inc. (NYSE:ROP - Free Report) by 7.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 546,801 shares of the industrial products company's stock after selling 46,592 shares during the period. Roper Technologies accounts for about 1.2% of King Luther Capital Management Corp's investment portfolio, making the stock its 19th biggest position. King Luther Capital Management Corp owned approximately 0.51% of Roper Technologies worth $284,254,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in ROP. Citizens Financial Group Inc. RI boosted its stake in shares of Roper Technologies by 1.9% during the fourth quarter. Citizens Financial Group Inc. RI now owns 1,674 shares of the industrial products company's stock valued at $870,000 after purchasing an additional 31 shares in the last quarter. Dearborn Partners LLC increased its holdings in shares of Roper Technologies by 5.7% in the 4th quarter. Dearborn Partners LLC now owns 1,197 shares of the industrial products company's stock valued at $622,000 after acquiring an additional 65 shares during the period. Paragon Private Wealth Management LLC lifted its stake in shares of Roper Technologies by 7.4% during the 4th quarter. Paragon Private Wealth Management LLC now owns 1,134 shares of the industrial products company's stock worth $590,000 after purchasing an additional 78 shares during the last quarter. Johnson Investment Counsel Inc. boosted its position in Roper Technologies by 1.4% during the fourth quarter. Johnson Investment Counsel Inc. now owns 154,311 shares of the industrial products company's stock valued at $80,219,000 after purchasing an additional 2,162 shares in the last quarter. Finally, Daiwa Securities Group Inc. boosted its position in Roper Technologies by 6.8% during the fourth quarter. Daiwa Securities Group Inc. now owns 21,654 shares of the industrial products company's stock valued at $11,257,000 after purchasing an additional 1,384 shares in the last quarter. 93.31% of the stock is currently owned by hedge funds and other institutional investors.

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Wall Street Analysts Forecast Growth

Several brokerages have weighed in on ROP. TD Cowen upgraded shares of Roper Technologies from a "hold" rating to a "buy" rating and raised their target price for the company from $535.00 to $615.00 in a research note on Tuesday, January 28th. Raymond James restated a "strong-buy" rating and issued a $655.00 price objective (up from $620.00) on shares of Roper Technologies in a research report on Friday, January 31st. Truist Financial reiterated a "buy" rating and issued a $675.00 price objective (up from $665.00) on shares of Roper Technologies in a report on Friday, January 31st. JPMorgan Chase & Co. increased their target price 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. Finally, Oppenheimer boosted their price objective on Roper Technologies from $630.00 to $640.00 and gave the stock an "outperform" rating in a research note on Friday, January 31st. One analyst has rated the stock with a sell rating, three have given a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $623.60.

Insider Buying and Selling at Roper Technologies

In other Roper Technologies news, VP John K. Stipancich sold 1,000 shares of the stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $578.04, for a total value of $578,040.00. Following the sale, the vice president now directly owns 38,932 shares of the company's stock, valued at approximately $22,504,253.28. This represents a 2.50 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Richard F. Wallman sold 351 shares of the firm's stock in a transaction 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. Insiders sold 8,101 shares of company stock valued at $4,712,045 in the last 90 days. Company insiders own 0.87% of the company's stock.

Roper Technologies Trading Up 0.4 %

ROP traded up $2.48 during mid-day trading on Wednesday, hitting $568.23. 274,344 shares of the stock were exchanged, compared to its average volume of 496,865. The company has a market cap of $61.02 billion, a PE ratio of 39.60, a PEG ratio of 2.77 and a beta of 1.06. The company has a current ratio of 0.40, a quick ratio of 0.37 and a debt-to-equity ratio of 0.35. The firm's fifty day moving average is $554.32 and its two-hundred day moving average is $551.56. Roper Technologies, Inc. has a 1-year low of $499.47 and a 1-year high of $595.17.

Roper Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 22nd. Shareholders of record on Friday, April 4th will be issued a dividend of $0.825 per share. The ex-dividend date of this dividend is Friday, April 4th. This represents a $3.30 dividend on an annualized basis and a yield of 0.58%. Roper Technologies's dividend payout ratio (DPR) is presently 23.01%.

Roper Technologies Company Profile

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.