California Public Employees Retirement System Cuts Stock Position in Roper Technologies, Inc. (NYSE:ROP)

California Public Employees Retirement System cut its holdings in shares of Roper Technologies, Inc. (NYSE:ROP) by 1.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 496,087 shares of the industrial products company’s stock after selling 8,339 shares during the quarter. California Public Employees Retirement System owned approximately 0.46% of Roper Technologies worth $257,891,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in Roper Technologies by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 10,575,103 shares of the industrial products company’s stock worth $5,497,467,000 after acquiring an additional 72,503 shares during the period. State Street Corp increased its stake in shares of Roper Technologies by 2.9% during the 3rd quarter. State Street Corp now owns 4,730,427 shares of the industrial products company’s stock worth $2,632,199,000 after purchasing an additional 132,575 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Roper Technologies by 2.1% in the 3rd quarter. Geode Capital Management LLC now owns 2,447,026 shares of the industrial products company’s stock worth $1,357,162,000 after purchasing an additional 51,131 shares during the period. Norges Bank purchased a new stake in Roper Technologies in the fourth quarter worth $914,052,000. Finally, JPMorgan Chase & Co. increased its stake in shares of Roper Technologies by 54.5% in the fourth quarter. JPMorgan Chase & Co. now owns 1,022,665 shares of the industrial products company’s stock worth $531,633,000 after purchasing an additional 360,632 shares in the last quarter. 93.31% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director Richard F. Wallman sold 351 shares of Roper Technologies stock in a transaction dated 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 in the company, valued at approximately $11,612,571.75. The trade was a 1.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Jason Conley sold 3,000 shares of the stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $588.19, for a total value of $1,764,570.00. Following the sale, the chief financial officer now owns 31,522 shares of the company’s stock, valued at $18,540,925.18. This 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 worth $4,712,045 in the last 90 days. 0.87% of the stock is owned by company insiders.

Roper Technologies Stock Down 1.7 %

Shares of ROP opened at $582.64 on Friday. Roper Technologies, Inc. has a 1 year low of $499.47 and a 1 year high of $595.17. 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 stock has a 50 day simple moving average of $570.85 and a two-hundred day simple moving average of $553.71. The firm has a market cap of $62.57 billion, a P/E ratio of 40.63, a P/E/G ratio of 2.77 and a beta of 1.06.

Roper Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 22nd. Investors of record on Friday, April 4th will be issued a dividend of $0.825 per share. This represents a $3.30 annualized dividend and a dividend yield of 0.57%. The ex-dividend date of this dividend is Friday, April 4th. Roper Technologies’s dividend payout ratio is currently 23.01%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on ROP. Raymond James reaffirmed a “strong-buy” rating and set a $655.00 target price (up previously from $620.00) on shares of Roper Technologies in a report on Friday, January 31st. Robert W. Baird set a $665.00 target price on shares of Roper Technologies in a report on Friday, January 31st. TD Cowen raised shares of Roper Technologies from a “hold” rating to a “buy” rating and raised their price target for the company from $535.00 to $615.00 in a report on Tuesday, January 28th. Oppenheimer upped their price target on shares of Roper Technologies from $630.00 to $640.00 and gave the stock an “outperform” rating in a report on Friday, January 31st. Finally, Barclays lowered their price target on Roper Technologies from $569.00 to $562.00 and set an “underweight” rating on the stock in a report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $629.18.

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.