Franklin Resources Inc. lessened its stake in Roper Technologies, Inc. (NASDAQ:ROP – Free Report) by 31.9% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,258,040 shares of the industrial products company’s stock after selling 589,358 shares during the quarter. Franklin Resources Inc.’s holdings in Roper Technologies were worth $559,991,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of ROP. Brighton Jones LLC bought a new position in shares of Roper Technologies during the 4th quarter valued at about $203,000. Empowered Funds LLC increased its holdings in shares of Roper Technologies by 11.7% in the first quarter. Empowered Funds LLC now owns 3,108 shares of the industrial products company’s stock worth $1,832,000 after purchasing an additional 326 shares during the last quarter. Cary Street Partners Financial LLC purchased a new stake in shares of Roper Technologies in the second quarter worth about $137,000. Nebula Research & Development LLC bought a new position in Roper Technologies during the second quarter valued at approximately $977,000. Finally, Sei Investments Co. grew its holdings in Roper Technologies by 22.6% during the 2nd quarter. Sei Investments Co. now owns 61,621 shares of the industrial products company’s stock valued at $34,928,000 after buying an additional 11,372 shares in the last quarter. 93.31% of the stock is owned by hedge funds and other institutional investors.
Roper Technologies Price Performance
NASDAQ ROP opened at $333.75 on Tuesday. The company has a market cap of $33.68 billion, a PE ratio of 20.85, a P/E/G ratio of 1.51 and a beta of 0.77. The firm’s 50 day moving average price is $343.37 and its 200-day moving average price is $377.73. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.49 and a current ratio of 0.53. Roper Technologies, Inc. has a 52-week low of $305.96 and a 52-week high of $576.49.
Roper Technologies Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 22nd. Shareholders of record on Wednesday, July 8th will be paid a $0.91 dividend. This represents a $3.64 annualized dividend and a yield of 1.1%. The ex-dividend date is Wednesday, July 8th. Roper Technologies’s payout ratio is 22.74%.
Analysts Set New Price Targets
Several brokerages have recently issued reports on ROP. 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. Piper Sandler increased their price objective on shares of Roper Technologies from $530.00 to $540.00 and gave the company an “overweight” rating in a research report on Friday, April 24th. Zacks Research upgraded shares of Roper Technologies from a “hold” rating to a “strong-buy” rating in a report on Wednesday, April 29th. Weiss Ratings cut shares of Roper Technologies from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, March 11th. Finally, Robert W. Baird lifted their price target on Roper Technologies from $464.00 to $470.00 and gave the stock an “outperform” rating in a research report on Friday, April 24th. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, six have given a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $472.07.
Check Out Our Latest Research Report on ROP
Roper Technologies 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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