State of Tennessee Department of Treasury Reduces Holdings in Roper Technologies, Inc. (NYSE:ROP)

State of Tennessee Department of Treasury lowered its position in Roper Technologies, Inc. (NYSE:ROP - Free Report) by 4.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 38,793 shares of the industrial products company's stock after selling 1,708 shares during the quarter. State of Tennessee Department of Treasury's holdings in Roper Technologies were worth $20,167,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in ROP. VSM Wealth Advisory LLC purchased a new stake in Roper Technologies in the 4th quarter worth about $26,000. CoreFirst Bank & Trust purchased a new stake in shares of Roper Technologies in the fourth quarter worth approximately $36,000. OFI Invest Asset Management bought a new stake in shares of Roper Technologies during the 4th quarter worth approximately $38,000. E Fund Management Hong Kong Co. Ltd. boosted its holdings in Roper Technologies by 7,500.0% during the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 76 shares of the industrial products company's stock valued at $40,000 after acquiring an additional 75 shares during the period. Finally, Golden State Wealth Management LLC bought a new position in Roper Technologies in the 4th quarter valued at $45,000. Institutional investors own 93.31% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Robert W. Baird set a $665.00 target price on Roper Technologies in a research report on Friday, January 31st. Stifel Nicolaus started coverage on shares of Roper Technologies in a report on Thursday, March 27th. They set a "buy" rating and a $685.00 price objective for the company. Barclays dropped their target price on shares of Roper Technologies from $569.00 to $562.00 and set an "underweight" rating on the stock in a research note 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 research note on Tuesday, January 28th. Finally, Truist Financial reissued 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. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $620.73.

Roper Technologies Stock Up 2.2 %

Shares of NYSE ROP opened at $551.30 on Wednesday. The stock has a market capitalization of $59.20 billion, a PE ratio of 38.44, a price-to-earnings-growth ratio of 2.77 and a beta of 1.04. The company has a current ratio of 0.40, a quick ratio of 0.37 and a debt-to-equity ratio of 0.35. Roper Technologies, Inc. has a 12-month low of $499.47 and a 12-month high of $595.17. The stock's fifty day simple moving average is $569.93 and its two-hundred day simple moving average is $554.24.

Roper Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 22nd. Shareholders of record on Friday, April 4th were paid a $0.825 dividend. The ex-dividend date of this dividend was Friday, April 4th. This represents a $3.30 annualized dividend and a yield of 0.60%. Roper Technologies's dividend payout ratio (DPR) is presently 23.01%.

Insiders Place Their Bets

In other news, Director Richard F. Wallman sold 351 shares of the company's stock in a transaction on Friday, January 31st. The stock was sold at an average price of $575.25, for a total transaction of $201,912.75. Following the transaction, the director now directly owns 20,187 shares of the company's stock, valued at approximately $11,612,571.75. This represents a 1.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 of the company's stock, valued at $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 ninety days, insiders sold 8,101 shares of company stock worth $4,712,045. 0.87% of the stock is owned by corporate insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.