Resona Asset Management Co. Ltd. Makes New Investment in Roper Technologies, Inc. (NYSE:ROP)

Resona Asset Management Co. Ltd. bought a new position in shares of Roper Technologies, Inc. (NYSE:ROP) during the 4th quarter, HoldingsChannel.com reports. The fund bought 51,506 shares of the industrial products company’s stock, valued at approximately $26,805,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. VSM Wealth Advisory LLC bought a new stake in Roper Technologies during the fourth quarter worth $26,000. CoreFirst Bank & Trust purchased a new stake in shares of Roper Technologies during the 4th quarter valued at $36,000. OFI Invest Asset Management bought a new stake in shares of Roper Technologies during the 4th quarter worth $38,000. E Fund Management Hong Kong Co. Ltd. boosted its holdings in shares of Roper Technologies by 7,500.0% in the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 76 shares of the industrial products company’s stock worth $40,000 after buying an additional 75 shares during the last quarter. Finally, Golden State Wealth Management LLC bought a new position in Roper Technologies during the fourth quarter valued at about $45,000. Hedge funds and other institutional investors own 93.31% of the company’s stock.

Insider Activity

In other Roper Technologies news, VP Brandon L. Cross sold 750 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $577.83, for a total value of $433,372.50. Following the completion of the transaction, the vice president now 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Jason Conley sold 3,000 shares of the firm’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $588.19, for a total transaction of $1,764,570.00. Following the sale, the chief financial officer now owns 31,522 shares in the company, valued at approximately $18,540,925.18. This trade represents a 8.69 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 8,101 shares of company stock worth $4,712,045 in the last three months. Corporate insiders own 0.87% of the company’s stock.

Roper Technologies Price Performance

ROP stock opened at $541.80 on Friday. The firm has a 50 day moving average of $575.65 and a 200-day moving average of $554.63. The firm has a market capitalization of $58.18 billion, a P/E ratio of 37.78, a price-to-earnings-growth ratio of 2.77 and a beta of 1.04. Roper Technologies, Inc. has a 12 month low of $499.47 and a 12 month high of $595.17. The company has a current ratio of 0.40, a quick ratio of 0.37 and a debt-to-equity ratio of 0.35.

Roper Technologies Dividend Announcement

The company 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 dividend of $0.825 per share. 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 0.61%. Roper Technologies’s dividend payout ratio (DPR) is currently 23.01%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on ROP. Stifel Nicolaus initiated coverage on shares of Roper Technologies in a research note on Thursday, March 27th. They issued a “buy” rating and a $685.00 target price on the stock. JPMorgan Chase & Co. increased their price objective 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 issued a $655.00 target price (up from $620.00) on shares of Roper Technologies in a research note on Friday, January 31st. Truist Financial reaffirmed a “buy” rating and set a $675.00 price target (up previously from $665.00) on shares of Roper Technologies in a research report on Friday, January 31st. Finally, Oppenheimer lifted their price objective on Roper Technologies from $630.00 to $640.00 and gave the stock an “outperform” rating in a report on Friday, January 31st. One analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $629.18.

About Roper Technologies

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.