Penobscot Investment Management Company Inc. Boosts Stake in Roper Technologies, Inc. (NYSE:ROP)

Penobscot Investment Management Company Inc. lifted its holdings in shares of Roper Technologies, Inc. (NYSE:ROP) by 10.2% in the fourth quarter, HoldingsChannel.com reports. The firm owned 6,043 shares of the industrial products company’s stock after acquiring an additional 559 shares during the quarter. Penobscot Investment Management Company Inc.’s holdings in Roper Technologies were worth $3,141,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Douglas Lane & Associates LLC boosted its stake in Roper Technologies by 18.9% during the fourth quarter. Douglas Lane & Associates LLC now owns 109,656 shares of the industrial products company’s stock worth $57,005,000 after buying an additional 17,466 shares during the period. Synovus Financial Corp lifted its holdings in shares of Roper Technologies by 19.6% in the 3rd quarter. Synovus Financial Corp now owns 5,867 shares of the industrial products company’s stock worth $3,265,000 after acquiring an additional 961 shares during the last quarter. Nordea Investment Management AB boosted its position in shares of Roper Technologies by 8.5% during the 4th quarter. Nordea Investment Management AB now owns 538,678 shares of the industrial products company’s stock worth $280,113,000 after purchasing an additional 42,016 shares during the period. First Financial Bank Trust Division increased its holdings in Roper Technologies by 28.0% in the 4th quarter. First Financial Bank Trust Division now owns 10,722 shares of the industrial products company’s stock valued at $5,574,000 after purchasing an additional 2,343 shares during the last quarter. Finally, Signal Advisors Wealth LLC raised its position in Roper Technologies by 42.0% in the fourth quarter. Signal Advisors Wealth LLC now owns 5,816 shares of the industrial products company’s stock valued at $3,023,000 after purchasing an additional 1,719 shares during the period. 93.31% of the stock is owned by institutional investors and hedge funds.

Roper Technologies Price Performance

Roper Technologies stock opened at $579.07 on Wednesday. The company has a current ratio of 0.40, a quick ratio of 0.37 and a debt-to-equity ratio of 0.35. The company has a fifty day simple moving average of $566.88 and a 200-day simple moving average of $553.02. The stock has a market cap of $62.18 billion, a P/E ratio of 40.38, a price-to-earnings-growth 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 $595.17.

Roper Technologies Announces Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend is Friday, April 4th. This represents a $3.30 annualized dividend and a dividend yield of 0.57%. Roper Technologies’s dividend payout ratio is currently 23.01%.

Insider Activity

In other news, CFO Jason Conley sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $588.19, for a total transaction of $1,764,570.00. Following the completion of the sale, the chief financial officer now owns 31,522 shares in the company, valued at approximately $18,540,925.18. The trade was a 8.69 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP John K. Stipancich sold 1,000 shares of the stock in a transaction on Friday, January 31st. The shares were sold at an average price of $578.04, for a total transaction of $578,040.00. Following the completion of the transaction, the vice president now directly owns 38,932 shares in the company, valued at $22,504,253.28. This trade represents a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 8,101 shares of company stock worth $4,712,045. 0.87% of the stock is currently owned by insiders.

Analyst Ratings Changes

ROP has been the subject of a number of research reports. Raymond James reaffirmed a “strong-buy” rating and issued a $655.00 price objective (up from $620.00) on shares of Roper Technologies in a research note on Friday, January 31st. Barclays dropped their target price on Roper Technologies from $569.00 to $562.00 and set an “underweight” rating for the company in a research report on Wednesday, January 8th. Oppenheimer increased their price target on shares of Roper Technologies from $630.00 to $640.00 and gave the stock an “outperform” rating in a research report on Friday, January 31st. Truist Financial restated a “buy” rating and issued a $675.00 price objective (up previously from $665.00) on shares of Roper Technologies in a report on Friday, January 31st. Finally, TD Cowen upgraded shares of Roper Technologies from a “hold” rating to a “buy” rating and increased their target price for the stock from $535.00 to $615.00 in a report on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $623.60.

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.