Korea Investment CORP purchased a new stake in shares of Roper Technologies, Inc. (NASDAQ:ROP – Free Report) during the second quarter, Holdings Channel reports. The fund purchased 50,663 shares of the industrial products company’s stock, valued at approximately $17,144,000.
A number of other large investors have also recently bought and sold shares of the business. Triumph Capital Management acquired a new position in Roper Technologies in the third quarter valued at approximately $25,000. Private Wealth Management Group LLC lifted its position in shares of Roper Technologies by 195.8% during the 1st quarter. Private Wealth Management Group LLC now owns 71 shares of the industrial products company’s stock valued at $25,000 after acquiring an additional 47 shares during the period. Tucker Asset Management LLC bought a new position in Roper Technologies during the fourth quarter worth $33,000. Kelleher Financial Advisors acquired a new stake in Roper Technologies in the third quarter worth $40,000. Finally, Edmond DE Rothschild Holding S.A. acquired a new position in shares of Roper Technologies during the second quarter valued at about $27,000. 93.31% of the stock is currently owned by institutional investors and hedge funds.
Roper Technologies Stock Performance
Shares of ROP opened at $411.79 on Monday. Roper Technologies, Inc. has a fifty-two week low of $305.96 and a fifty-two week high of $538.21. The business has a 50-day moving average of $367.34 and a 200 day moving average of $352.49. The firm has a market cap of $40.73 billion, a P/E ratio of 17.06, a price-to-earnings-growth ratio of 1.85 and a beta of 0.73. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.51 and a current ratio of 0.55.
Roper Technologies Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 21st. Investors of record on Friday, October 2nd will be paid a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Friday, October 2nd. Roper Technologies’s dividend payout ratio is presently 15.08%.
Insider Activity at Roper Technologies
In other Roper Technologies news, EVP John K. Stipancich sold 2,000 shares of the business’s stock in a transaction on Monday, July 27th. The shares were sold at an average price of $379.05, for a total transaction of $758,100.00. Following the sale, the executive vice president owned 35,634 shares of the company’s stock, valued at $13,507,067.70. The trade was a 5.31% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Richard F. Wallman sold 6,434 shares of the stock in a transaction on Friday, July 24th. The stock was sold at an average price of $361.00, for a total value of $2,322,674.00. Following the sale, the director owned 7,423 shares in the company, valued at approximately $2,679,703. This represents a 46.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.80% of the stock is currently owned by company insiders.
Wall Street Analysts Forecast Growth
Several research analysts have issued reports on ROP shares. BMO Capital Markets began coverage on Roper Technologies in a report on Friday, July 10th. They issued a “market perform” rating and a $393.00 price target on the stock. Weiss Ratings upgraded shares of Roper Technologies from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, August 14th. Piper Sandler reduced their price objective on Roper Technologies from $540.00 to $526.00 and set an “overweight” rating for the company in a research note on Friday, July 24th. Argus upgraded shares of Roper Technologies from a “hold” rating to a “buy” rating and set a $450.00 price target for the company in a research note on Thursday, August 6th. Finally, Mizuho set a $355.00 price target on shares of Roper Technologies in a report on Tuesday, July 21st. Seven investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $466.94.
View Our Latest Analysis on Roper Technologies
About Roper Technologies
Roper Technologies, Inc (NASDAQ: ROP) is a diversified technology company that acquires and manages businesses delivering specialized software, engineered products and data-driven analytics to niche markets. Its subsidiaries develop enterprise and cloud-based software, scientific and analytical instruments, industrial and medical devices, and other applied technologies designed to solve specific operational, regulatory and commercial challenges for customers. The company emphasizes recurring revenue streams from software licenses, subscriptions and service contracts alongside sales of hardware and instruments.
Roper operates a decentralized operating model in which acquired businesses retain entrepreneurial autonomy while benefiting from centralized capital allocation, legal and financial support.
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