MassMutual Private Wealth & Trust FSB reduced its holdings in shares of Roper Technologies, Inc. (NASDAQ:ROP – Free Report) by 4.3% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 31,745 shares of the industrial products company’s stock after selling 1,431 shares during the period. MassMutual Private Wealth & Trust FSB’s holdings in Roper Technologies were worth $10,742,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ROP. Norges Bank purchased a new stake in shares of Roper Technologies in the fourth quarter valued at $1,112,873,000. Vanguard Group Inc. increased its position in Roper Technologies by 12.5% during the 4th quarter. Vanguard Group Inc. now owns 12,477,100 shares of the industrial products company’s stock worth $5,553,932,000 after purchasing an additional 1,384,656 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position in Roper Technologies by 206.9% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,339,710 shares of the industrial products company’s stock worth $474,070,000 after purchasing an additional 903,223 shares in the last quarter. OpenArc Corporate Advisory LLC acquired a new position in Roper Technologies in the 4th quarter valued at about $367,567,000. Finally, AQR Capital Management LLC lifted its holdings in Roper Technologies by 194.6% in the 4th quarter. AQR Capital Management LLC now owns 772,347 shares of the industrial products company’s stock valued at $343,795,000 after purchasing an additional 510,138 shares in the last quarter. Institutional investors and hedge funds own 93.31% of the company’s stock.
Roper Technologies Stock Up 0.2%
ROP opened at $392.57 on Tuesday. The company has a market cap of $39.62 billion, a PE ratio of 16.26, a price-to-earnings-growth ratio of 1.76 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, Inc. has a 1 year low of $305.96 and a 1 year high of $549.24. The firm has a 50 day moving average price of $348.03 and a 200 day moving average price of $352.11.
Roper Technologies Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, July 22nd. Stockholders of record on Wednesday, July 8th were given 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 of this dividend was Wednesday, July 8th. Roper Technologies’s payout ratio is presently 15.08%.
Wall Street Analyst Weigh In
A number of analysts recently issued reports on ROP shares. Piper Sandler decreased their target price on shares of Roper Technologies from $540.00 to $526.00 and set an “overweight” rating on the stock in a research report on Friday, July 24th. Barclays decreased their price objective on Roper Technologies from $380.00 to $373.00 and set an “underweight” rating on the stock in a report on Friday, April 24th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Roper Technologies in a research report on Monday, June 8th. JPMorgan Chase & Co. lifted their price target on Roper Technologies from $397.00 to $415.00 and gave the company an “underweight” rating in a report on Wednesday, July 29th. Finally, Zacks Research lowered shares of Roper Technologies from a “strong-buy” rating to a “hold” rating in a report on Thursday, June 25th. Six research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $468.00.
Read Our Latest Report on Roper Technologies
Insider Buying and Selling at Roper Technologies
In other news, Director Richard F. Wallman sold 6,434 shares of the stock in a transaction that occurred on Friday, July 24th. The stock was sold at an average price of $361.00, for a total transaction of $2,322,674.00. Following the completion of the transaction, the director directly owned 7,423 shares in the company, valued at approximately $2,679,703. This represents a 46.43% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP John K. Stipancich sold 2,000 shares of the 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 transaction, the executive vice president owned 35,634 shares in the company, valued at $13,507,067.70. This trade represents a 5.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.80% of the stock is currently owned by corporate insiders.
Roper Technologies Company Profile
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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