Teacher Retirement System of Texas Purchases 3,393 Shares of Roper Technologies, Inc. (NYSE:ROP)

Teacher Retirement System of Texas raised its position in Roper Technologies, Inc. (NYSE:ROP - Free Report) by 52.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,858 shares of the industrial products company's stock after purchasing an additional 3,393 shares during the period. Teacher Retirement System of Texas' holdings in Roper Technologies were worth $5,125,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in ROP. Manchester Capital Management LLC grew its position in Roper Technologies by 1.6% during 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. Meridian Financial Partners LLC lifted its position in Roper Technologies by 1.0% during the fourth 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 last quarter. Principal Securities Inc. grew its stake in Roper Technologies by 0.5% in the 4th quarter. Principal Securities Inc. now owns 4,291 shares of the industrial products company's stock worth $2,231,000 after buying an additional 20 shares in the last quarter. Exchange Capital Management Inc. raised its position in Roper Technologies by 0.7% during the fourth quarter. Exchange Capital Management Inc. now owns 2,744 shares of the industrial products company's stock valued at $1,426,000 after purchasing an additional 20 shares in the last quarter. Finally, PFG Investments LLC boosted its holdings in shares of Roper Technologies by 1.1% in the 4th quarter. PFG Investments LLC now owns 1,946 shares of the industrial products company's stock worth $1,011,000 after purchasing an additional 21 shares in the last quarter. 93.31% of the stock is currently owned by hedge funds and other institutional investors.

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Roper Technologies Stock Up 1.7 %

Shares of ROP traded up $9.84 on Thursday, reaching $592.55. The stock had a trading volume of 627,319 shares, compared to its average volume of 499,602. The firm has a market capitalization of $63.63 billion, a price-to-earnings ratio of 41.32, a price-to-earnings-growth ratio of 2.77 and a beta of 1.06. The company has a 50-day simple moving average of $568.17 and a 200-day simple moving average of $553.23. 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 Announces Dividend

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 paid a $0.825 dividend. The ex-dividend date of this dividend is Friday, April 4th. This represents a $3.30 annualized dividend and a dividend yield of 0.56%. Roper Technologies's payout ratio is 23.01%.

Insider Buying and Selling

In other news, CFO Jason Conley sold 3,000 shares of the company's stock in a transaction on 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 transaction, the chief financial officer now directly owns 31,522 shares of the company's stock, valued at $18,221,292.10. This represents a 8.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Richard F. Wallman sold 351 shares of Roper Technologies stock in a transaction that occurred 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 completion of the sale, the director now owns 20,187 shares of the company's stock, valued at $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 valued at $4,712,045 over the last quarter. Corporate insiders own 0.87% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on ROP shares. Truist Financial restated a "buy" rating and issued a $675.00 price objective (up from $665.00) on shares of Roper Technologies in a report on Friday, January 31st. Robert W. Baird set a $665.00 price objective on Roper Technologies in a report on Friday, January 31st. TD Cowen upgraded Roper Technologies from a "hold" rating to a "buy" rating and raised their price target for the stock from $535.00 to $615.00 in a research report on Tuesday, January 28th. Stifel Nicolaus began coverage on Roper Technologies in a research note on Thursday. They set a "buy" rating and a $685.00 price objective for the company. Finally, Oppenheimer raised their price target on shares of Roper Technologies from $630.00 to $640.00 and gave the stock an "outperform" rating in a report on Friday, January 31st. One 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 company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $629.18.

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.