1,758,300 Shares in Roper Technologies, Inc. (NYSE:ROP) Bought by Norges Bank

Norges Bank purchased a new stake in Roper Technologies, Inc. (NYSE:ROP) during the fourth quarter, according to its most recent filing with the SEC. The fund purchased 1,758,300 shares of the industrial products company’s stock, valued at approximately $914,052,000.

Several other hedge funds have also bought and sold shares of the stock. VSM Wealth Advisory LLC bought a new stake in shares of Roper Technologies in the fourth quarter worth about $26,000. CoreFirst Bank & Trust purchased a new position in Roper Technologies during the 4th quarter valued at approximately $36,000. OFI Invest Asset Management bought a new stake in Roper Technologies in the 4th quarter worth approximately $38,000. E Fund Management Hong Kong Co. Ltd. raised its holdings in shares of Roper Technologies by 7,500.0% during the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 76 shares of the industrial products company’s stock worth $40,000 after acquiring an additional 75 shares in the last quarter. Finally, Golden State Wealth Management LLC bought a new position in shares of Roper Technologies during the 4th quarter valued at approximately $45,000. Hedge funds and other institutional investors own 93.31% of the company’s stock.

Insider Activity

In other Roper Technologies news, Director Richard F. Wallman sold 351 shares of the firm’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $575.25, for a total transaction of $201,912.75. Following the transaction, the director now directly owns 20,187 shares in the company, valued at $11,612,571.75. This trade represents a 1.71 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Brandon L. Cross sold 750 shares of the company’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $577.83, for a total value of $433,372.50. Following the completion of the sale, the vice president now owns 1,329 shares of the company’s stock, valued at $767,936.07. This represents a 36.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 8,101 shares of company stock valued at $4,712,045. Corporate insiders own 0.87% of the company’s stock.

Roper Technologies Stock Up 1.7 %

Shares of ROP opened at $592.55 on Friday. The firm has a market capitalization of $63.63 billion, a P/E ratio of 41.32, a P/E/G ratio of 2.77 and a beta of 1.06. Roper Technologies, Inc. has a 12-month low of $499.47 and a 12-month high of $595.78. The firm has a fifty day moving average price of $569.64 and a 200-day moving average price of $553.50. The company has a current ratio of 0.40, a quick ratio of 0.37 and a debt-to-equity ratio of 0.35.

Roper Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 22nd. Stockholders of record on Friday, April 4th will be given a dividend of $0.825 per share. This represents a $3.30 dividend on an annualized basis and a dividend yield of 0.56%. The ex-dividend date is Friday, April 4th. Roper Technologies’s dividend payout ratio (DPR) is presently 23.01%.

Wall Street Analyst Weigh In

ROP has been the topic of a number of recent research reports. Raymond James reaffirmed a “strong-buy” rating and set a $655.00 price target (up previously from $620.00) on shares of Roper Technologies in a research note on Friday, January 31st. JPMorgan Chase & Co. upped their target price on shares of Roper Technologies from $539.00 to $558.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. TD Cowen raised Roper Technologies from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $535.00 to $615.00 in a research note on Tuesday, January 28th. Stifel Nicolaus started coverage on Roper Technologies in a research report on Thursday. They set a “buy” rating and a $685.00 price objective on the stock. Finally, Oppenheimer lifted their target price on Roper Technologies from $630.00 to $640.00 and gave the stock an “outperform” rating in a report on Friday, January 31st. One analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $629.18.

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.