Nuveen Asset Management LLC Cuts Stake in Roper Technologies, Inc. (NYSE:ROP)

Nuveen Asset Management LLC cut its holdings in Roper Technologies, Inc. (NYSE:ROP - Free Report) by 10.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 986,938 shares of the industrial products company's stock after selling 114,706 shares during the quarter. Nuveen Asset Management LLC owned about 0.92% of Roper Technologies worth $513,060,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in Roper Technologies by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 10,575,103 shares of the industrial products company's stock valued at $5,497,467,000 after purchasing an additional 72,503 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its position in Roper Technologies by 42.2% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 5,151,502 shares of the industrial products company's stock worth $2,678,009,000 after purchasing an additional 1,529,716 shares during the period. Geode Capital Management LLC boosted its stake in Roper Technologies by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 2,476,210 shares of the industrial products company's stock worth $1,284,242,000 after buying an additional 29,184 shares in the last quarter. Norges Bank acquired a new position in shares of Roper Technologies in the 4th quarter valued at $914,052,000. Finally, Invesco Ltd. boosted its position in shares of Roper Technologies by 2.2% during the 4th quarter. Invesco Ltd. now owns 1,490,212 shares of the industrial products company's stock valued at $774,687,000 after acquiring an additional 31,531 shares in the last quarter. 93.31% of the stock is owned by institutional investors.

Insider Activity at Roper Technologies

In other Roper Technologies news, CFO Jason Conley sold 3,000 shares of the 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 transaction, the chief financial officer now owns 31,522 shares in the company, valued at approximately $18,540,925.18. This represents a 8.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.78% of the stock is owned by insiders.

Roper Technologies Price Performance

Shares of ROP stock traded down $3.79 during trading hours on Monday, reaching $579.09. The company's stock had a trading volume of 291,559 shares, compared to its average volume of 549,782. The firm's 50 day simple moving average is $565.24 and its 200-day simple moving average is $556.53. Roper Technologies, Inc. has a fifty-two week low of $499.47 and a fifty-two week high of $595.17. The company has a market capitalization of $62.26 billion, a price-to-earnings ratio of 40.38, a PEG ratio of 2.77 and a beta of 1.08. The company has a quick ratio of 0.37, a current ratio of 0.40 and a debt-to-equity ratio of 0.35.

Roper Technologies (NYSE:ROP - Get Free Report) last posted its quarterly earnings results on Monday, April 28th. The industrial products company reported $4.78 EPS for the quarter, topping analysts' consensus estimates of $4.74 by $0.04. Roper Technologies had a net margin of 22.01% and a return on equity of 10.79%. Roper Technologies's quarterly revenue was up 12.0% on a year-over-year basis. During the same period in the previous year, the business earned $4.41 earnings per share. Sell-side analysts forecast that Roper Technologies, Inc. will post 19.96 earnings per share for the current year.

Roper Technologies Announces Dividend

The company 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. This represents a $3.30 annualized dividend and a yield of 0.57%. The ex-dividend date was Friday, April 4th. Roper Technologies's dividend payout ratio is currently 23.81%.

Wall Street Analysts Forecast Growth

ROP has been the subject of a number of recent analyst reports. William Blair assumed coverage on Roper Technologies in a research note on Monday, May 5th. They issued an "outperform" rating for the company. TD Cowen upgraded shares of Roper Technologies from a "hold" rating to a "buy" rating and boosted their price target for the stock from $535.00 to $615.00 in a research report on Tuesday, January 28th. Truist Financial reaffirmed a "buy" rating and issued a $675.00 price objective (up previously from $665.00) on shares of Roper Technologies in a report on Friday, January 31st. Oppenheimer reaffirmed an "outperform" rating and issued a $640.00 target price on shares of Roper Technologies in a research report on Monday, April 28th. Finally, Barclays reiterated an "underweight" rating on shares of Roper Technologies in a research note on Monday, April 28th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $632.36.

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.