Roper Technologies (NYSE:ROP) Hits New 1-Year High – Here’s What Happened

Roper Technologies, Inc. (NYSE:ROP)’s stock price hit a new 52-week high during mid-day trading on Friday . The company traded as high as $584.31 and last traded at $570.60, with a volume of 1153765 shares traded. The stock had previously closed at $543.02.

Analyst Upgrades and Downgrades

ROP has been the subject of a number of research analyst reports. TD Cowen raised shares of Roper Technologies from a “hold” rating to a “buy” rating and upped their price objective for the company from $535.00 to $615.00 in a research note on Tuesday. Oppenheimer started coverage on shares of Roper Technologies in a research note on Monday, December 23rd. They set an “outperform” rating and a $630.00 price target on the stock. Truist Financial reissued a “buy” rating and set a $665.00 price objective (up from $660.00) on shares of Roper Technologies in a research note on Thursday, October 24th. Robert W. Baird raised their target price on Roper Technologies from $635.00 to $652.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Finally, Mizuho increased their price objective on shares of Roper Technologies from $530.00 to $565.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $623.33.

Roper Technologies Trading Up 5.1 %

The firm’s 50 day simple moving average is $535.28 and its two-hundred day simple moving average is $544.69. The company has a quick ratio of 0.44, a current ratio of 0.48 and a debt-to-equity ratio of 0.41. The stock has a market cap of $61.19 billion, a P/E ratio of 41.74, a price-to-earnings-growth ratio of 2.55 and a beta of 1.04.

Roper Technologies Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Friday, January 3rd were paid a $0.825 dividend. This is an increase from Roper Technologies’s previous quarterly dividend of $0.75. This represents a $3.30 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date of this dividend was Friday, January 3rd. Roper Technologies’s payout ratio is presently 24.14%.

Institutional Trading of Roper Technologies

Institutional investors and hedge funds have recently made changes to their positions in the stock. State Street Corp grew its stake in 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 buying an additional 132,575 shares during the last quarter. Geode Capital Management LLC increased 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 acquiring an additional 51,131 shares during the period. Wellington Management Group LLP lifted its position 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 valued at $410,977,000 after purchasing an additional 345,268 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Roper Technologies by 7.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 662,033 shares of the industrial products company’s stock valued at $368,382,000 after purchasing an additional 45,947 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Roper Technologies by 1.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 648,903 shares of the industrial products company’s stock valued at $361,076,000 after purchasing an additional 9,653 shares during the period. 93.31% of the stock is currently owned by institutional investors and hedge funds.

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.