Pinebridge Investments L.P. Purchases 20,970 Shares of Roper Technologies, Inc. (NYSE:ROP)

Pinebridge Investments L.P. raised its holdings in Roper Technologies, Inc. (NYSE:ROP - Free Report) by 35.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 80,578 shares of the industrial products company's stock after acquiring an additional 20,970 shares during the quarter. Pinebridge Investments L.P. owned about 0.08% of Roper Technologies worth $41,888,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of ROP. Manchester Capital Management LLC raised its stake in Roper Technologies by 1.6% in the fourth quarter. Manchester Capital Management LLC now owns 1,139 shares of the industrial products company's stock worth $592,000 after buying an additional 18 shares in the last quarter. Oxford Financial Group LTD. LLC raised its position in shares of Roper Technologies by 3.1% in the 4th quarter. Oxford Financial Group LTD. LLC now owns 594 shares of the industrial products company's stock worth $309,000 after acquiring an additional 18 shares in the last quarter. Meridian Financial Partners LLC lifted its stake in shares of Roper Technologies by 1.0% in the 4th quarter. Meridian Financial Partners LLC now owns 2,052 shares of the industrial products company's stock valued at $1,067,000 after purchasing an additional 20 shares during the period. Principal Securities Inc. boosted its position in shares of Roper Technologies by 0.5% during the fourth quarter. Principal Securities Inc. now owns 4,291 shares of the industrial products company's stock valued at $2,231,000 after purchasing an additional 20 shares in the last quarter. Finally, Exchange Capital Management Inc. grew its stake in Roper Technologies by 0.7% in the fourth quarter. Exchange Capital Management Inc. now owns 2,744 shares of the industrial products company's stock worth $1,426,000 after purchasing an additional 20 shares during the period. Institutional investors and hedge funds own 93.31% of the company's stock.

Insider Activity

In other Roper Technologies 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 of the company's stock, valued at $11,612,571.75. This trade represents a 1.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP John K. Stipancich sold 1,000 shares of the company's stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $578.04, for a total value of $578,040.00. Following the completion of the transaction, the vice president now directly owns 38,932 shares of the company's stock, valued at approximately $22,504,253.28. This trade represents a 2.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 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.

Wall Street Analysts Forecast Growth

ROP has been the subject of several recent research reports. Raymond James reissued a "strong-buy" rating and set a $655.00 price objective (up previously from $620.00) on shares of Roper Technologies in a research report on Friday, January 31st. Oppenheimer boosted 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. Robert W. Baird set a $665.00 target price on shares of Roper Technologies in a report on Friday, January 31st. JPMorgan Chase & Co. cut their price target on Roper Technologies from $558.00 to $465.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 8th. Finally, Truist Financial reissued a "buy" rating and issued a $675.00 target price (up from $665.00) 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, seven have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $620.73.

Roper Technologies Stock Performance

Shares of NYSE:ROP traded down $1.96 during trading on Friday, hitting $557.70. The company's stock had a trading volume of 671,002 shares, compared to its average volume of 552,720. The company has a 50-day moving average of $568.90 and a 200-day moving average of $554.47. 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 has a market cap of $59.89 billion, a price-to-earnings ratio of 38.89, a P/E/G ratio of 2.77 and a beta of 1.04. Roper Technologies, Inc. has a 12 month low of $499.47 and a 12 month high of $595.17.

Roper Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 22nd. Stockholders of record on Friday, April 4th were paid a dividend of $0.825 per share. This represents a $3.30 annualized dividend and a dividend yield of 0.59%. The ex-dividend date was Friday, April 4th. Roper Technologies's dividend 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.