PGGM Investments Grows Stake in Roper Technologies, Inc. (NYSE:ROP)

PGGM Investments lifted its stake in shares of Roper Technologies, Inc. (NYSE:ROP) by 739.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 72,596 shares of the industrial products company’s stock after buying an additional 63,947 shares during the period. PGGM Investments owned approximately 0.07% of Roper Technologies worth $40,919,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. Norges Bank acquired a new position in shares of Roper Technologies during the 4th quarter worth approximately $756,176,000. Mackenzie Financial Corp boosted its holdings in Roper Technologies by 45.6% in the fourth quarter. Mackenzie Financial Corp now owns 896,909 shares of the industrial products company’s stock valued at $488,968,000 after purchasing an additional 280,873 shares during the period. First Trust Advisors LP grew its stake in shares of Roper Technologies by 149.7% during the fourth quarter. First Trust Advisors LP now owns 366,981 shares of the industrial products company’s stock worth $200,067,000 after purchasing an additional 220,006 shares in the last quarter. Corient Private Wealth LLC boosted its holdings in Roper Technologies by 32.8% in the fourth quarter. Corient Private Wealth LLC now owns 858,949 shares of the industrial products company’s stock valued at $468,273,000 after purchasing an additional 211,967 shares in the last quarter. Finally, Wellington Management Group LLP lifted its position in Roper Technologies by 134.5% in the fourth quarter. Wellington Management Group LLP now owns 272,763 shares of the industrial products company’s stock valued at $148,702,000 after acquiring an additional 156,468 shares during the last quarter. 93.31% of the stock is currently owned by hedge funds and other institutional investors.

Roper Technologies Stock Performance

Shares of Roper Technologies stock traded up $2.98 during trading on Wednesday, reaching $528.00. The company’s stock had a trading volume of 269,960 shares, compared to its average volume of 521,014. Roper Technologies, Inc. has a one year low of $474.46 and a one year high of $579.10. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.48 and a current ratio of 0.53. The firm has a market cap of $56.60 billion, a price-to-earnings ratio of 38.32, a price-to-earnings-growth ratio of 2.76 and a beta of 1.02. The business’s fifty day moving average price is $551.12 and its 200-day moving average price is $544.42.

Roper Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 22nd. Shareholders of record on Monday, July 8th were issued a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 0.57%. The ex-dividend date of this dividend was Monday, July 8th. Roper Technologies’s dividend payout ratio (DPR) is presently 21.77%.

Insider Activity at Roper Technologies

In other Roper Technologies news, Director Robert D. Johnson sold 140 shares of the company’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $550.34, for a total transaction of $77,047.60. Following the sale, the director now directly owns 5,909 shares of the company’s stock, valued at $3,251,959.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Roper Technologies news, Director Christopher Wright sold 300 shares of Roper Technologies stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $554.67, for a total transaction of $166,401.00. Following the transaction, the director now directly owns 35,247 shares in the company, valued at $19,550,453.49. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Robert D. Johnson sold 140 shares of Roper Technologies stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $550.34, for a total value of $77,047.60. Following the completion of the sale, the director now directly owns 5,909 shares in the company, valued at approximately $3,251,959.06. The disclosure for this sale can be found here. Insiders have sold a total of 3,940 shares of company stock valued at $2,214,019 over the last quarter. 0.87% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on ROP shares. Oppenheimer dropped their price objective on shares of Roper Technologies from $650.00 to $630.00 and set an “outperform” rating on the stock in a research note on Thursday, July 25th. Mizuho raised their price target on Roper Technologies from $525.00 to $530.00 and gave the company a “neutral” rating in a research report on Monday, April 29th. Royal Bank of Canada decreased their price objective on Roper Technologies from $685.00 to $674.00 and set an “outperform” rating on the stock in a research note on Thursday, July 25th. Barclays raised their price target on shares of Roper Technologies from $611.00 to $625.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 10th. Finally, Baird R W upgraded Roper Technologies from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 25th. Four analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Roper Technologies presently has a consensus rating of “Moderate Buy” and an average target price of $604.33.

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.