Lord Abbett & CO. LLC Sells 59,037 Shares of Roper Technologies, Inc. (NYSE:ROP)

Lord Abbett & CO. LLC reduced its stake in Roper Technologies, Inc. (NYSE:ROP) by 19.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 248,320 shares of the industrial products company’s stock after selling 59,037 shares during the period. Lord Abbett & CO. LLC owned approximately 0.23% of Roper Technologies worth $129,089,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Kovitz Investment Group Partners LLC lifted its position in shares of Roper Technologies by 8.4% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 4,840 shares of the industrial products company’s stock worth $2,516,000 after buying an additional 373 shares in the last quarter. Voya Investment Management LLC raised its holdings in shares of Roper Technologies by 30.7% during the 4th quarter. Voya Investment Management LLC now owns 55,570 shares of the industrial products company’s stock worth $28,888,000 after acquiring an additional 13,053 shares in the last quarter. Integrated Wealth Concepts LLC grew its holdings in shares of Roper Technologies by 21.1% in the fourth quarter. Integrated Wealth Concepts LLC now owns 9,929 shares of the industrial products company’s stock valued at $5,161,000 after purchasing an additional 1,732 shares in the last quarter. Burling Wealth Partners LLC bought a new stake in Roper Technologies in the fourth quarter worth $4,401,000. Finally, Adage Capital Partners GP L.L.C. raised its stake in Roper Technologies by 64.0% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 116,813 shares of the industrial products company’s stock valued at $60,725,000 after purchasing an additional 45,599 shares in the last quarter. Hedge funds and other institutional investors own 93.31% of the company’s stock.

Roper Technologies Trading Up 1.6 %

Shares of ROP opened at $559.66 on Friday. 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 firm has a market capitalization of $60.10 billion, a price-to-earnings ratio of 39.03, a PEG ratio of 2.77 and a beta of 1.04. The company has a 50-day moving average of $569.20 and a 200 day moving average of $554.37. Roper Technologies, Inc. has a 1-year low of $499.47 and a 1-year high of $595.17.

Roper Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 22nd. Investors of record on Friday, April 4th were issued a $0.825 dividend. The ex-dividend date of this dividend was Friday, April 4th. This represents a $3.30 dividend on an annualized basis and a dividend yield of 0.59%. Roper Technologies’s payout ratio is 23.01%.

Insider Buying and Selling

In related news, Director Richard F. Wallman sold 351 shares of the company’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $575.25, for a total value of $201,912.75. Following the completion of the sale, the director now directly owns 20,187 shares of the company’s stock, valued at $11,612,571.75. This represents a 1.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Jason Conley sold 3,000 shares of the company’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $578.05, for a total value of $1,734,150.00. Following the sale, the chief financial officer now owns 31,522 shares of the company’s stock, valued at $18,221,292.10. This trade 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 over the last quarter. 0.87% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Barclays reduced their target price on shares of Roper Technologies from $569.00 to $562.00 and set an “underweight” rating on the stock in a report on Wednesday, January 8th. Stifel Nicolaus started coverage on Roper Technologies in a research note on Thursday, March 27th. They issued a “buy” rating and a $685.00 price objective for the company. Truist Financial reissued a “buy” rating and set a $675.00 target price (up previously from $665.00) on shares of Roper Technologies in a research report on Friday, January 31st. TD Cowen upgraded Roper Technologies from a “hold” rating to a “buy” rating and raised their price target for the stock from $535.00 to $615.00 in a research report on Tuesday, January 28th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Roper Technologies from $558.00 to $465.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 8th. One analyst has rated the stock with a sell rating, three have issued a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Roper Technologies has an average rating of “Moderate Buy” and an average price target of $620.73.

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.