Resona Asset Management Co. Ltd. Buys Shares of 51,506 Roper Technologies, Inc. (NYSE:ROP)

Resona Asset Management Co. Ltd. acquired a new position in Roper Technologies, Inc. (NYSE:ROP - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 51,506 shares of the industrial products company's stock, valued at approximately $26,805,000.

A number of other hedge funds have also bought and sold shares of ROP. Prudential PLC grew its position in Roper Technologies by 6.4% in the 4th quarter. Prudential PLC now owns 13,402 shares of the industrial products company's stock worth $6,967,000 after purchasing an additional 811 shares during the period. ExodusPoint Capital Management LP lifted its holdings in Roper Technologies by 67.7% in the fourth quarter. ExodusPoint Capital Management LP now owns 12,601 shares of the industrial products company's stock valued at $6,551,000 after acquiring an additional 5,087 shares during the period. Motley Fool Asset Management LLC increased its position in shares of Roper Technologies by 11.2% during the 4th quarter. Motley Fool Asset Management LLC now owns 4,798 shares of the industrial products company's stock valued at $2,494,000 after purchasing an additional 485 shares during the last quarter. World Investment Advisors increased its holdings in Roper Technologies by 1.9% during the fourth quarter. World Investment Advisors now owns 7,249 shares of the industrial products company's stock valued at $3,768,000 after buying an additional 138 shares during the last quarter. Finally, Bryce Point Capital LLC purchased a new position in shares of Roper Technologies during the 4th quarter worth $1,440,000. Hedge funds and other institutional investors own 93.31% of the company's stock.

Roper Technologies Price Performance

Roper Technologies stock traded up $6.41 during mid-day trading on Friday, reaching $556.01. 178,185 shares of the company's stock traded hands, compared to its average volume of 552,336. Roper Technologies, Inc. has a 12-month low of $499.47 and a 12-month high of $595.17. The company has a market cap of $59.71 billion, a price-to-earnings ratio of 38.79, a PEG ratio of 2.77 and a beta of 1.04. The stock has a 50 day moving average of $573.07 and a two-hundred day moving average of $553.90. 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 Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 22nd. Investors of record on Friday, April 4th will be issued 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 payout ratio is 23.01%.

Insider Buying and Selling

In related news, CFO Jason Conley sold 3,000 shares of the firm's stock in a transaction 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 sale, the chief financial officer now directly owns 31,522 shares in the company, valued at $18,540,925.18. This trade represents a 8.69 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Richard F. Wallman sold 351 shares of the business's stock in a transaction on Friday, January 31st. The shares were sold at an average price of $575.25, for a total transaction of $201,912.75. Following the transaction, the director now owns 20,187 shares in the company, valued at $11,612,571.75. This trade represents a 1.71 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 8,101 shares of company stock worth $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 the company. Oppenheimer lifted their target price on Roper Technologies from $630.00 to $640.00 and gave the company an "outperform" rating in a research report on Friday, January 31st. 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. TD Cowen raised shares of Roper Technologies from a "hold" rating to a "buy" rating and lifted their price target for the company from $535.00 to $615.00 in a report on Tuesday, January 28th. 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 research note on Friday, January 31st. Finally, Truist Financial reaffirmed a "buy" rating and issued a $675.00 price objective (up previously from $665.00) on shares of Roper Technologies in a research note on Friday, January 31st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $620.73.

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.