Pictet Asset Management Holding SA Decreases Stock Holdings in Roper Technologies, Inc. (NYSE:ROP)

Pictet Asset Management Holding SA lessened its holdings in Roper Technologies, Inc. (NYSE:ROP) by 25.9% during the fourth quarter, HoldingsChannel.com reports. The fund owned 878,530 shares of the industrial products company’s stock after selling 307,143 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Roper Technologies were worth $456,704,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank purchased a new position in Roper Technologies in the fourth quarter valued at about $914,052,000. JPMorgan Chase & Co. lifted its position in Roper Technologies by 54.5% during the 4th quarter. JPMorgan Chase & Co. now owns 1,022,665 shares of the industrial products company’s stock worth $531,633,000 after acquiring an additional 360,632 shares in the last quarter. Wellington Management Group LLP boosted its holdings in Roper Technologies by 87.8% in the 3rd quarter. Wellington Management Group LLP now owns 738,582 shares of the industrial products company’s stock worth $410,977,000 after acquiring an additional 345,268 shares during the period. Raymond James Financial Inc. acquired a new stake in Roper Technologies in the fourth quarter valued at approximately $148,070,000. Finally, Proficio Capital Partners LLC raised its stake in shares of Roper Technologies by 59,278.6% during the fourth quarter. Proficio Capital Partners LLC now owns 280,267 shares of the industrial products company’s stock valued at $145,697,000 after purchasing an additional 279,795 shares during the period. Institutional investors and hedge funds own 93.31% of the company’s stock.

Insider Activity at Roper Technologies

In related news, CFO Jason Conley sold 3,000 shares of the firm’s stock in a transaction that occurred 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 approximately $18,221,292.10. This trade represents a 8.69 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Richard F. Wallman sold 351 shares of the company’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $575.25, for a total value of $201,912.75. Following the transaction, the director now owns 20,187 shares of the company’s stock, valued at approximately $11,612,571.75. The trade was a 1.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 8,101 shares of company stock valued at $4,712,045 in the last quarter. Insiders own 0.87% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on ROP shares. Robert W. Baird set a $665.00 target price on shares of Roper Technologies in a research note on Friday, January 31st. Truist Financial restated a “buy” rating and set a $675.00 target price (up from $665.00) on shares of Roper Technologies in a research note on Friday, January 31st. Barclays reduced their price target on Roper Technologies from $569.00 to $562.00 and set an “underweight” rating for the company in a report on Wednesday, January 8th. TD Cowen raised Roper Technologies from a “hold” rating to a “buy” rating and upped their target price for the company from $535.00 to $615.00 in a research report on Tuesday, January 28th. Finally, JPMorgan Chase & Co. raised their price target on shares of Roper Technologies from $539.00 to $558.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Roper Technologies currently has an average rating of “Moderate Buy” and an average target price of $629.18.

Roper Technologies Stock Performance

Shares of ROP opened at $592.55 on Friday. The stock has a market capitalization of $63.63 billion, a PE ratio of 41.32, a price-to-earnings-growth ratio of 2.77 and a beta of 1.06. The business’s fifty day moving average price is $569.64 and its 200 day moving average price is $553.50. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.40 and a quick ratio of 0.37. Roper Technologies, Inc. has a 12-month low of $499.47 and a 12-month high of $595.78.

Roper Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 22nd. Stockholders of record on Friday, April 4th will be issued a $0.825 dividend. This represents a $3.30 annualized dividend and a dividend yield of 0.56%. The ex-dividend date of this dividend is Friday, April 4th. Roper Technologies’s dividend payout ratio (DPR) is presently 23.01%.

Roper Technologies Company 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.