Capital Investment Counsel LLC Grows Stake in Roper Technologies, Inc. (NYSE:ROP)

Capital Investment Counsel LLC raised its stake in shares of Roper Technologies, Inc. (NYSE:ROP) by 3.1% during the fourth quarter, HoldingsChannel reports. The firm owned 12,694 shares of the industrial products company’s stock after buying an additional 380 shares during the quarter. Capital Investment Counsel LLC’s holdings in Roper Technologies were worth $6,599,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. State Street Corp raised its position in Roper Technologies by 2.9% in 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 period. Geode Capital Management LLC raised its holdings in shares of Roper Technologies by 2.1% in the third quarter. Geode Capital Management LLC now owns 2,447,026 shares of the industrial products company’s stock worth $1,357,162,000 after buying an additional 51,131 shares during the period. Wellington Management Group LLP lifted its stake in shares of Roper Technologies by 87.8% during 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 last quarter. JPMorgan Chase & Co. boosted its holdings 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 acquiring an additional 45,947 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in Roper Technologies by 1.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 648,903 shares of the industrial products company’s stock valued at $361,076,000 after acquiring an additional 9,653 shares during the last quarter. 93.31% of the stock is owned by institutional investors.

Roper Technologies Stock Performance

ROP stock opened at $549.62 on Wednesday. Roper Technologies, Inc. has a one year low of $499.47 and a one year high of $580.09. The firm has a market cap of $58.94 billion, a price-to-earnings ratio of 29.89, a PEG ratio of 2.55 and a beta of 1.04. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.44 and a current ratio of 0.48. The firm has a 50-day simple moving average of $535.38 and a two-hundred day simple moving average of $544.76.

Roper Technologies Increases Dividend

The company 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 represents a $3.30 annualized dividend and a yield of 0.60%. This is an increase from Roper Technologies’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend was Friday, January 3rd. Roper Technologies’s dividend payout ratio (DPR) is 24.14%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Mizuho lifted their target price on Roper Technologies from $530.00 to $565.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Royal Bank of Canada lowered their price objective on shares of Roper Technologies from $675.00 to $666.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Oppenheimer assumed coverage on shares of Roper Technologies in a research report on Monday, December 23rd. They set an “outperform” rating and a $630.00 target price on the stock. Truist Financial reissued a “buy” rating and issued a $665.00 price objective (up previously from $660.00) on shares of Roper Technologies in a research note on Thursday, October 24th. Finally, Robert W. Baird lifted their target price on Roper Technologies from $635.00 to $652.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $623.33.

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.