Legal & General Group Plc Reduces Holdings in Roper Technologies, Inc. (NYSE:ROP)

Legal & General Group Plc cut its stake in Roper Technologies, Inc. (NYSE:ROP - Free Report) by 23.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 714,944 shares of the industrial products company's stock after selling 213,230 shares during the period. Legal & General Group Plc owned 0.67% of Roper Technologies worth $371,640,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of the stock. Invesco Ltd. grew its holdings in shares of Roper Technologies by 2.2% during the fourth quarter. Invesco Ltd. now owns 1,490,212 shares of the industrial products company's stock valued at $774,687,000 after buying an additional 31,531 shares during the last quarter. FMR LLC lifted its position in Roper Technologies by 8.3% during the 4th quarter. FMR LLC now owns 391,120 shares of the industrial products company's stock worth $203,324,000 after acquiring an additional 29,880 shares during the period. Benchmark Investment Advisors LLC grew its stake in Roper Technologies by 13.3% during the 4th quarter. Benchmark Investment Advisors LLC now owns 5,405 shares of the industrial products company's stock valued at $2,810,000 after purchasing an additional 634 shares during the last quarter. Federated Hermes Inc. increased its holdings in shares of Roper Technologies by 15.9% in the fourth quarter. Federated Hermes Inc. now owns 5,421 shares of the industrial products company's stock valued at $2,818,000 after purchasing an additional 742 shares during the period. Finally, Waterloo Capital L.P. raised its stake in shares of Roper Technologies by 5.0% in the fourth quarter. Waterloo Capital L.P. now owns 3,063 shares of the industrial products company's stock worth $1,593,000 after purchasing an additional 146 shares during the last quarter. Hedge funds and other institutional investors own 93.31% of the company's stock.

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Insider Transactions at Roper Technologies

In related news, Director Richard F. Wallman sold 351 shares of the stock in a transaction that occurred on Friday, January 31st. The stock was 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 of the company's stock, valued at approximately $11,612,571.75. This trade represents a 1.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Jason Conley sold 3,000 shares of Roper Technologies 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 transaction, the chief financial officer now owns 31,522 shares in the company, valued at approximately $18,540,925.18. The trade was a 8.69 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 8,101 shares of company stock valued at $4,712,045. Corporate insiders own 0.87% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on ROP shares. JPMorgan Chase & Co. cut their price target on shares of Roper Technologies from $558.00 to $465.00 and set a "neutral" rating on the stock in a report on Tuesday, April 8th. Barclays reduced their target price on shares of Roper Technologies from $569.00 to $562.00 and set an "underweight" rating for the company in a report on Wednesday, January 8th. Oppenheimer upped their price target on shares of Roper Technologies from $630.00 to $640.00 and gave the company an "outperform" rating in a report on Friday, January 31st. Raymond James reiterated a "strong-buy" rating and set a $655.00 price objective (up previously from $620.00) on shares of Roper Technologies in a research note on Friday, January 31st. Finally, Truist Financial restated a "buy" rating and issued a $675.00 target price (up previously from $665.00) on shares of Roper Technologies in a research note on Friday, January 31st. One analyst has rated the stock with a sell rating, three have issued a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $620.73.

Roper Technologies Price Performance

NYSE ROP traded up $10.56 during mid-day trading on Friday, hitting $560.16. The stock had a trading volume of 669,052 shares, compared to its average volume of 554,723. Roper Technologies, Inc. has a twelve month low of $499.47 and a twelve month high of $595.17. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.40 and a quick ratio of 0.37. The firm's 50 day moving average is $572.72 and its 200 day moving average is $553.99. The stock has a market capitalization of $60.15 billion, a price-to-earnings ratio of 39.06, a PEG ratio of 2.77 and a beta of 1.04.

Roper Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 22nd. Stockholders of record on Friday, April 4th will be given a $0.825 dividend. This represents a $3.30 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date is Friday, April 4th. Roper Technologies's dividend payout ratio (DPR) is 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.