Royal Bank of Canada Increases Stock Position in Roper Technologies, Inc. (NYSE:ROP)

Royal Bank of Canada raised its position in shares of Roper Technologies, Inc. (NYSE:ROP - Free Report) by 2.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 621,037 shares of the industrial products company's stock after purchasing an additional 13,633 shares during the period. Royal Bank of Canada owned approximately 0.58% of Roper Technologies worth $322,844,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Roper Technologies by 0.7% during the fourth 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 in the last quarter. T. Rowe Price Investment Management Inc. increased its holdings in shares of 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 buying an additional 1,529,716 shares during the period. Geode Capital Management LLC increased its holdings in shares of Roper Technologies by 1.2% in 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 during the period. Norges Bank purchased a new position in shares of Roper Technologies in the fourth quarter worth about $914,052,000. Finally, Invesco Ltd. increased its holdings in shares of Roper Technologies by 2.2% in the fourth quarter. Invesco Ltd. now owns 1,490,212 shares of the industrial products company's stock worth $774,687,000 after buying an additional 31,531 shares during the period. Hedge funds and other institutional investors own 93.31% of the company's stock.

Insider Transactions at Roper Technologies

In related news, CFO Jason Conley sold 3,000 shares of the business's stock in a transaction that occurred on Tuesday, February 25th. The shares were 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 directly owns 31,522 shares in the company, valued at $18,540,925.18. The trade was a 8.69% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.78% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently commented on ROP shares. Mizuho set a $600.00 price objective on Roper Technologies in a report on Friday. Royal Bank of Canada lifted their price objective on Roper Technologies from $694.00 to $695.00 and gave the stock an "outperform" rating in a report on Tuesday, April 29th. Truist Financial reiterated 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 reiterated an "outperform" rating and issued a $640.00 price objective on shares of Roper Technologies in a report on Monday, April 28th. Finally, Stifel Nicolaus decreased their price objective on Roper Technologies from $685.00 to $650.00 and set a "buy" rating on the stock in a report on Tuesday, April 29th. One analyst has rated the stock with a sell rating, three have given a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Roper Technologies currently has a consensus rating of "Moderate Buy" and an average price target of $632.36.

Roper Technologies Trading Down 0.4%

NYSE:ROP traded down $2.26 during mid-day trading on Tuesday, reaching $578.21. 460,213 shares of the company's stock traded hands, compared to its average volume of 548,795. Roper Technologies, Inc. has a 12-month low of $499.47 and a 12-month high of $595.17. The firm has a market capitalization of $62.17 billion, a price-to-earnings ratio of 40.32, a PEG ratio of 2.77 and a beta of 1.08. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.40 and a quick ratio of 0.37. The company has a 50 day moving average price of $565.52 and a 200-day moving average price of $556.80.

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

Roper Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 22nd. Stockholders of record on Friday, April 4th were given a $0.825 dividend. The ex-dividend date was Friday, April 4th. This represents a $3.30 dividend on an annualized basis and a dividend yield of 0.57%. Roper Technologies's dividend payout ratio is currently 23.81%.

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.