Weitz Investment Management Inc. Decreases Stake in Roper Technologies, Inc. (NYSE:ROP)

Weitz Investment Management Inc. cut its stake in Roper Technologies, Inc. (NYSE:ROP - Free Report) by 52.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,425 shares of the industrial products company's stock after selling 35,075 shares during the quarter. Weitz Investment Management Inc.'s holdings in Roper Technologies were worth $16,336,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Roper Technologies in the fourth quarter worth approximately $914,052,000. JPMorgan Chase & Co. lifted its holdings in Roper Technologies by 54.5% in the 4th quarter. JPMorgan Chase & Co. now owns 1,022,665 shares of the industrial products company's stock valued at $531,633,000 after purchasing an additional 360,632 shares in the last quarter. Wellington Management Group LLP boosted its stake in Roper Technologies by 87.8% during the 3rd quarter. Wellington Management Group LLP now owns 738,582 shares of the industrial products company's stock worth $410,977,000 after purchasing an additional 345,268 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Roper Technologies during the fourth quarter worth $148,070,000. Finally, Proficio Capital Partners LLC raised its position in shares of Roper Technologies by 59,278.6% in the fourth quarter. Proficio Capital Partners LLC now owns 280,267 shares of the industrial products company's stock valued at $145,697,000 after buying an additional 279,795 shares during the last quarter. 93.31% of the stock is currently owned by institutional investors and hedge funds.

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Roper Technologies Trading Down 6.5 %

Shares of NYSE ROP traded down $37.90 during mid-day trading on Friday, reaching $541.80. 1,672,570 shares of the company's stock were exchanged, compared to its average volume of 544,627. The firm has a market capitalization of $58.18 billion, a price-to-earnings ratio of 37.78, a PEG ratio of 2.77 and a beta of 1.04. Roper Technologies, Inc. has a 52-week low of $499.47 and a 52-week high of $595.17. The company's 50-day moving average is $575.65 and its 200-day moving average is $554.63. 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 Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 22nd. Shareholders of record on Friday, April 4th will be given a dividend of $0.825 per share. This represents a $3.30 dividend on an annualized basis and a dividend yield of 0.61%. The ex-dividend date of this dividend is Friday, April 4th. Roper Technologies's dividend payout ratio is presently 23.01%.

Insider Activity

In other news, VP John K. Stipancich sold 1,000 shares of the stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $578.04, for a total transaction of $578,040.00. Following the sale, the vice president now owns 38,932 shares of the company's stock, valued at approximately $22,504,253.28. This represents a 2.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richard F. Wallman sold 351 shares of the company'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 transaction of $201,912.75. Following the sale, the director now directly owns 20,187 shares in the company, valued at approximately $11,612,571.75. The trade was a 1.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 8,101 shares of company stock valued at $4,712,045. Company insiders own 0.87% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Stifel Nicolaus initiated coverage on shares of Roper Technologies in a research note on Thursday, March 27th. They set a "buy" rating and a $685.00 price objective for the company. Raymond James restated a "strong-buy" rating and issued a $655.00 price target (up from $620.00) on shares of Roper Technologies in a research report on Friday, January 31st. Barclays reduced their price objective on Roper Technologies from $569.00 to $562.00 and set an "underweight" rating on the stock in a research report on Wednesday, January 8th. Oppenheimer upped their target price on Roper Technologies from $630.00 to $640.00 and gave the company an "outperform" rating in a report on Friday, January 31st. Finally, JPMorgan Chase & Co. raised their target price on Roper Technologies from $539.00 to $558.00 and gave the stock a "neutral" rating in a research note on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, three have issued 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 has an average rating of "Moderate Buy" and an average target price 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.