Eagle Ridge Investment Management Sells 914 Shares of Roper Technologies, Inc. (NYSE:ROP)

Eagle Ridge Investment Management cut its position in shares of Roper Technologies, Inc. (NYSE:ROP) by 13.5% during the 4th quarter, HoldingsChannel reports. The firm owned 5,850 shares of the industrial products company’s stock after selling 914 shares during the period. Eagle Ridge Investment Management’s holdings in Roper Technologies were worth $3,041,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. State Street Corp raised its stake in Roper Technologies by 2.9% during the third quarter. State Street Corp now owns 4,730,427 shares of the industrial products company’s stock valued at $2,632,199,000 after buying an additional 132,575 shares during the last quarter. Geode Capital Management LLC raised its stake in Roper Technologies by 2.1% during the third quarter. Geode Capital Management LLC now owns 2,447,026 shares of the industrial products company’s stock valued at $1,357,162,000 after buying an additional 51,131 shares during the last quarter. Wellington Management Group LLP raised its stake in Roper Technologies by 87.8% during the third quarter. Wellington Management Group LLP now owns 738,582 shares of the industrial products company’s stock valued at $410,977,000 after buying an additional 345,268 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Roper Technologies by 7.5% in the third quarter. JPMorgan Chase & Co. now owns 662,033 shares of the industrial products company’s stock worth $368,382,000 after purchasing an additional 45,947 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised 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 worth $361,076,000 after purchasing an additional 9,653 shares during the last quarter. 93.31% of the stock is currently owned by institutional investors.

Roper Technologies Stock Performance

NYSE:ROP opened at $583.42 on Friday. The stock has a 50-day simple moving average of $536.97 and a two-hundred day simple moving average of $545.01. Roper Technologies, Inc. has a 52-week low of $499.47 and a 52-week high of $584.31. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.37 and a current ratio of 0.40. The firm has a market capitalization of $62.56 billion, a PE ratio of 31.42, a P/E/G ratio of 2.76 and a beta of 1.05.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on ROP shares. Mizuho boosted their price target on Roper Technologies from $530.00 to $565.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Robert W. Baird boosted their price target on Roper Technologies from $635.00 to $652.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Barclays decreased their price target on Roper Technologies from $569.00 to $562.00 and set an “underweight” rating for the company in a research note on Wednesday, January 8th. Royal Bank of Canada decreased their price target on Roper Technologies from $675.00 to $666.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Finally, Truist Financial restated a “buy” rating and issued a $675.00 price target (up previously from $665.00) on shares of Roper Technologies in a research note on Friday, January 31st. One research analyst has rated the stock with a sell rating, three have given a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Roper Technologies presently has an average rating of “Moderate Buy” and an average target price of $622.30.

Insider Buying and Selling at Roper Technologies

In other news, Director Richard F. Wallman sold 351 shares of the company’s 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 completion of the transaction, the director now owns 20,187 shares of the company’s stock, valued at $11,612,571.75. This represents a 1.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP John K. Stipancich sold 1,000 shares of the company’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $578.04, for a total value of $578,040.00. Following the completion of the transaction, the vice president now directly owns 38,932 shares of the company’s stock, valued at approximately $22,504,253.28. This trade represents a 2.50 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,101 shares of company stock valued at $2,947,475. Company insiders own 0.87% of the company’s stock.

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.