Progressive Investment Management Corp Sells 450 Shares of Roper Technologies, Inc. (NYSE:ROP)

Progressive Investment Management Corp trimmed its stake in shares of Roper Technologies, Inc. (NYSE:ROP - Free Report) by 2.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,374 shares of the industrial products company's stock after selling 450 shares during the quarter. Roper Technologies makes up 2.3% of Progressive Investment Management Corp's investment portfolio, making the stock its 19th largest position. Progressive Investment Management Corp's holdings in Roper Technologies were worth $9,032,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

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Wall Street Analyst Weigh In

A number of brokerages have weighed in on ROP. Barclays decreased their target price on shares of Roper Technologies from $569.00 to $562.00 and set an "underweight" rating for the company in a research note on Wednesday, January 8th. JPMorgan Chase & Co. boosted their target price on Roper Technologies from $539.00 to $558.00 and gave the stock a "neutral" rating in a report on Friday, January 31st. Truist Financial restated a "buy" rating and set a $675.00 price target (up from $665.00) on shares of Roper Technologies in a report on Friday, January 31st. Raymond James reissued a "strong-buy" rating and set a $655.00 price objective (up from $620.00) on shares of Roper Technologies in a research report on Friday, January 31st. Finally, TD Cowen upgraded shares of Roper Technologies from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $535.00 to $615.00 in a report on Tuesday, January 28th. 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. According to data from MarketBeat.com, Roper Technologies currently has an average rating of "Moderate Buy" and a consensus target price of $629.18.

Insider Activity

In related news, CFO Jason Conley sold 3,000 shares of the stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $578.05, for a total transaction of $1,734,150.00. Following the completion of the sale, the chief financial officer now owns 31,522 shares in the company, valued at approximately $18,221,292.10. This trade represents a 8.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Richard F. Wallman sold 351 shares of the business's 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 transaction, the director now directly 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 have sold 8,101 shares of company stock worth $4,712,045 in the last three months. Company insiders own 0.87% of the company's stock.

Roper Technologies Stock Performance

Shares of ROP stock traded up $1.79 during trading hours on Wednesday, reaching $592.57. 142,693 shares of the company traded hands, compared to its average volume of 538,571. The firm has a 50-day moving average price of $573.39 and a 200 day moving average price of $554.28. The company has a market cap of $63.63 billion, a P/E ratio of 41.32, a P/E/G 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 current ratio of 0.40 and a quick ratio of 0.37.

Roper Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 22nd. Stockholders of record on Friday, April 4th will be paid a $0.825 dividend. The ex-dividend date of this dividend is Friday, April 4th. This represents a $3.30 dividend on an annualized basis and a dividend yield of 0.56%. Roper Technologies's dividend payout ratio (DPR) is presently 23.01%.

About Roper Technologies

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.