Lord Abbett & CO. LLC Decreases Stock Holdings in Roper Technologies, Inc. (NYSE:ROP)

Lord Abbett & CO. LLC cut its stake in shares of Roper Technologies, Inc. (NYSE:ROP) by 19.2% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 248,320 shares of the industrial products company’s stock after selling 59,037 shares during the period. Lord Abbett & CO. LLC’s holdings in Roper Technologies were worth $129,089,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. VSM Wealth Advisory LLC acquired a new stake in Roper Technologies in the 4th quarter worth about $26,000. CoreFirst Bank & Trust purchased a new stake in shares of Roper Technologies during the fourth quarter worth approximately $36,000. OFI Invest Asset Management acquired a new position in Roper Technologies in the 4th quarter valued at $38,000. E Fund Management Hong Kong Co. Ltd. lifted its holdings in 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 valued at $40,000 after purchasing an additional 75 shares in the last quarter. Finally, Golden State Wealth Management LLC acquired a new stake in Roper Technologies during the 4th quarter worth $45,000. Institutional investors and hedge funds own 93.31% of the company’s stock.

Insider Buying and Selling at Roper Technologies

In related news, VP Brandon L. Cross sold 750 shares of Roper Technologies 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 sale, the vice president now owns 1,329 shares in the company, valued at approximately $767,936.07. This trade represents a 36.08 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 transaction, the chief financial officer now owns 31,522 shares in the company, 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 sold a total of 8,101 shares of company stock worth $4,712,045 over the last three months. Insiders own 0.87% of the company’s stock.

Analyst Ratings Changes

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

Roper Technologies Stock Performance

NYSE ROP opened at $559.66 on Friday. The stock has a fifty day simple moving average of $569.20 and a 200-day simple moving average of $554.37. The company has a current ratio of 0.40, a quick ratio of 0.37 and a debt-to-equity ratio of 0.35. The stock has a market cap of $60.10 billion, a PE ratio of 39.03, a P/E/G ratio of 2.77 and a beta of 1.04. Roper Technologies, Inc. has a twelve month low of $499.47 and a twelve month high of $595.17.

Roper Technologies Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 22nd. Shareholders of record on Friday, April 4th were paid a dividend of $0.825 per share. This represents a $3.30 annualized dividend and a yield of 0.59%. The ex-dividend date of this dividend was Friday, April 4th. Roper Technologies’s dividend payout ratio (DPR) is presently 23.01%.

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.