Magnetar Financial LLC Buys New Position in Roper Technologies, Inc. (NYSE:ROP)

Magnetar Financial LLC acquired a new position in shares of Roper Technologies, Inc. (NYSE:ROP - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 11,581 shares of the industrial products company's stock, valued at approximately $6,020,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. State Street Corp boosted its holdings in shares of Roper Technologies by 2.9% during 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 period. Geode Capital Management LLC boosted its holdings in shares of Roper Technologies by 2.1% during 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 acquiring an additional 51,131 shares during the period. Wellington Management Group LLP grew its position in shares of Roper Technologies by 87.8% in the third quarter. Wellington Management Group LLP now owns 738,582 shares of the industrial products company's stock valued at $410,977,000 after purchasing an additional 345,268 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Roper Technologies by 3.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 673,193 shares of the industrial products company's stock valued at $349,959,000 after purchasing an additional 24,290 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake 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 during the period. 93.31% of the stock is currently owned by institutional investors and hedge funds.

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Analyst Upgrades and Downgrades

A number of brokerages have commented on ROP. TD Cowen raised Roper Technologies from a "hold" rating to a "buy" rating and upped their price objective for the company from $535.00 to $615.00 in a report on Tuesday, January 28th. Truist Financial restated a "buy" rating and issued a $675.00 price target (up from $665.00) on shares of Roper Technologies in a research note on Friday, January 31st. Oppenheimer lifted their price objective on shares of Roper Technologies from $630.00 to $640.00 and gave the stock an "outperform" rating in a research note on Friday, January 31st. Raymond James reissued a "strong-buy" rating and issued a $655.00 price objective (up previously from $620.00) on shares of Roper Technologies in a report on Friday, January 31st. Finally, Barclays lowered their target price on shares of Roper Technologies from $569.00 to $562.00 and set an "underweight" rating on the stock in a report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, three have given a hold rating, six have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $623.60.

Insider Transactions at Roper Technologies

In other Roper Technologies news, VP Brandon L. Cross sold 750 shares of the company's stock in a transaction that occurred on Tuesday, February 4th. The shares were 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 in the company, valued at approximately $767,936.07. This represents a 36.08 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP John K. Stipancich sold 1,000 shares of the business's stock in a transaction on Friday, January 31st. The stock was sold at an average price of $578.04, for a total transaction of $578,040.00. Following the completion of the sale, the vice president now directly owns 38,932 shares in the company, valued at approximately $22,504,253.28. This represents a 2.50 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 8,101 shares of company stock worth $4,712,045. Corporate insiders own 0.87% of the company's stock.

Roper Technologies Price Performance

Shares of Roper Technologies stock traded up $4.47 during midday trading on Monday, hitting $576.65. 568,913 shares of the company traded hands, compared to its average volume of 500,039. The firm's fifty day moving average price is $565.51 and its 200-day moving average price is $552.80. The stock has a market cap of $61.92 billion, a price-to-earnings ratio of 40.21, a PEG ratio of 2.77 and a beta of 1.06. Roper Technologies, Inc. has a 12 month low of $499.47 and a 12 month high of $595.17. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.37 and a current ratio of 0.40.

Roper Technologies Dividend Announcement

The business 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. The ex-dividend date is Friday, April 4th. This represents a $3.30 dividend on an annualized basis and a dividend yield of 0.57%. Roper Technologies's payout ratio is presently 23.01%.

Roper Technologies 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.