Schwartz Investment Counsel Inc. boosted its position in shares of Roper Technologies, Inc. (NASDAQ:ROP – Free Report) by 13.0% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 191,700 shares of the industrial products company’s stock after acquiring an additional 22,000 shares during the period. Roper Technologies comprises 3.2% of Schwartz Investment Counsel Inc.’s investment portfolio, making the stock its 6th biggest holding. Schwartz Investment Counsel Inc.’s holdings in Roper Technologies were worth $95,599,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of the company. Asset Dedication LLC grew its stake in shares of Roper Technologies by 800.0% during the second quarter. Asset Dedication LLC now owns 45 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 40 shares in the last quarter. Vermillion & White Wealth Management Group LLC lifted its holdings in Roper Technologies by 89.3% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 53 shares of the industrial products company’s stock worth $30,000 after buying an additional 25 shares during the last quarter. Quent Capital LLC acquired a new position in shares of Roper Technologies during the 3rd quarter worth about $37,000. CoreFirst Bank & Trust purchased a new position in shares of Roper Technologies in the 2nd quarter valued at about $39,000. Finally, J.Safra Asset Management Corp raised its position in shares of Roper Technologies by 222.7% during the 2nd quarter. J.Safra Asset Management Corp now owns 71 shares of the industrial products company’s stock worth $40,000 after acquiring an additional 49 shares in the last quarter. 93.31% of the stock is currently owned by institutional investors and hedge funds.
Roper Technologies Stock Up 0.5%
ROP stock opened at $416.14 on Monday. The company has a market cap of $44.79 billion, a price-to-earnings ratio of 28.68, a price-to-earnings-growth ratio of 1.94 and a beta of 0.94. The company has a fifty day moving average price of $442.70 and a 200 day moving average price of $491.57. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.58 and a quick ratio of 0.53. Roper Technologies, Inc. has a 12 month low of $407.03 and a 12 month high of $595.17.
Roper Technologies Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, January 16th. Shareholders of record on Friday, January 2nd were given a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend was Friday, January 2nd. This is a positive change from Roper Technologies’s previous quarterly dividend of $0.83. Roper Technologies’s payout ratio is 25.09%.
Analyst Upgrades and Downgrades
A number of equities analysts recently issued reports on the company. Piper Sandler lowered their price target on Roper Technologies from $600.00 to $530.00 and set an “overweight” rating for the company in a report on Tuesday, January 13th. TD Cowen lowered their target price on shares of Roper Technologies from $650.00 to $625.00 and set a “buy” rating for the company in a report on Friday, October 24th. Oppenheimer reaffirmed an “outperform” rating and issued a $570.00 target price on shares of Roper Technologies in a research report on Thursday, October 23rd. Jefferies Financial Group reduced their price target on shares of Roper Technologies from $650.00 to $600.00 and set a “buy” rating for the company in a research report on Monday, January 5th. Finally, JPMorgan Chase & Co. dropped their price objective on Roper Technologies from $540.00 to $457.00 and set an “underweight” rating on the stock in a report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, three have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $551.07.
Read Our Latest Report on Roper Technologies
Insider Activity at Roper Technologies
In other news, Director Amy Woods Brinkley acquired 1,200 shares of the stock in a transaction that occurred on Wednesday, November 12th. The shares were purchased at an average cost of $450.71 per share, for a total transaction of $540,852.00. Following the transaction, the director directly owned 18,184 shares in the company, valued at approximately $8,195,710.64. This represents a 7.07% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Laurence Neil Hunn sold 30,000 shares of the company’s stock in a transaction on Tuesday, November 11th. The stock was sold at an average price of $443.57, for a total transaction of $13,307,100.00. Following the transaction, the chief executive officer owned 87,311 shares of the company’s stock, valued at approximately $38,728,540.27. The trade was a 25.57% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.78% of the company’s stock.
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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