KLP Kapitalforvaltning AS Invests $18.67 Million in Roper Technologies, Inc. (NYSE:ROP)

KLP Kapitalforvaltning AS acquired a new position in Roper Technologies, Inc. (NYSE:ROP) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 35,920 shares of the industrial products company’s stock, valued at approximately $18,673,000.

Several other large investors have also recently modified their holdings of the stock. State Street Corp increased its holdings in shares of Roper Technologies by 2.9% in the third quarter. State Street Corp now owns 4,730,427 shares of the industrial products company’s stock worth $2,632,199,000 after buying an additional 132,575 shares during the period. Geode Capital Management LLC increased its holdings in Roper Technologies by 2.1% during the 3rd quarter. Geode Capital Management LLC now owns 2,447,026 shares of the industrial products company’s stock valued at $1,357,162,000 after purchasing an additional 51,131 shares during the period. Wellington Management Group LLP increased its holdings 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 valued at $410,977,000 after purchasing an additional 345,268 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Roper Technologies by 3.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 673,193 shares of the industrial products company’s stock valued at $349,959,000 after purchasing an additional 24,290 shares during the period. Finally, JPMorgan Chase & Co. increased its holdings in Roper Technologies by 7.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 662,033 shares of the industrial products company’s stock valued at $368,382,000 after purchasing an additional 45,947 shares during the period. Hedge funds and other institutional investors own 93.31% of the company’s stock.

Analyst Ratings Changes

ROP has been the topic of a number of research analyst reports. JPMorgan Chase & Co. boosted their price target on Roper Technologies from $539.00 to $558.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Raymond James restated a “strong-buy” rating and set a $655.00 price target (up previously from $620.00) on shares of Roper Technologies in a report on Friday, January 31st. Robert W. Baird set a $665.00 price target on Roper Technologies in a report on Friday, January 31st. Barclays reduced their price target on Roper Technologies from $569.00 to $562.00 and set an “underweight” rating on the stock in a report on Wednesday, January 8th. Finally, TD Cowen raised Roper Technologies from a “hold” rating to a “buy” rating and lifted their price objective for the company from $535.00 to $615.00 in a research report on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, three have given a hold rating, six have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Roper Technologies has a consensus rating of “Moderate Buy” and an average price target of $623.60.

Insider Transactions at Roper Technologies

In other news, VP Brandon L. Cross sold 750 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $577.83, for a total value of $433,372.50. Following the sale, the vice president now directly owns 1,329 shares of the company’s stock, valued at $767,936.07. The trade was a 36.08 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Jason Conley sold 3,000 shares of the business’s stock in a transaction that occurred 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 sale, the chief financial officer now directly 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 disclosure for this sale can be found here. Insiders have sold a total of 8,101 shares of company stock valued at $4,712,045 in the last ninety days. 0.87% of the stock is currently owned by corporate insiders.

Roper Technologies Stock Performance

Roper Technologies stock opened at $572.18 on Monday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.37 and a current ratio of 0.40. The stock’s 50 day simple moving average is $564.14 and its two-hundred day simple moving average is $552.65. Roper Technologies, Inc. has a fifty-two week low of $499.47 and a fifty-two week high of $595.17. The stock has a market cap of $61.44 billion, a price-to-earnings ratio of 39.90, a PEG ratio of 2.77 and a beta of 1.06.

Roper Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 22nd. Stockholders of record on Friday, April 4th will be given a $0.825 dividend. The ex-dividend date of this dividend is Friday, April 4th. This represents a $3.30 dividend on an annualized basis and a dividend yield of 0.58%. Roper Technologies’s dividend payout ratio is currently 23.01%.

Roper Technologies 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.