Thrivent Financial for Lutherans Reduces Stock Holdings in Roper Technologies, Inc. (NYSE:ROP)

Thrivent Financial for Lutherans trimmed its holdings in Roper Technologies, Inc. (NYSE:ROP) by 7.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 7,046 shares of the industrial products company’s stock after selling 564 shares during the period. Thrivent Financial for Lutherans’ holdings in Roper Technologies were worth $3,729,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. Haven Capital Group Inc. acquired a new position in shares of Roper Technologies during the 4th quarter worth approximately $7,317,000. Axxcess Wealth Management LLC raised its holdings in shares of Roper Technologies by 0.4% in the fourth quarter. Axxcess Wealth Management LLC now owns 12,730 shares of the industrial products company’s stock worth $6,617,000 after acquiring an additional 45 shares during the last quarter. Flagship Wealth Advisors LLC purchased a new stake in shares of Roper Technologies in the fourth quarter valued at $125,000. Parallel Advisors LLC boosted its stake in shares of Roper Technologies by 0.9% during the fourth quarter. Parallel Advisors LLC now owns 16,217 shares of the industrial products company’s stock valued at $8,430,000 after acquiring an additional 152 shares during the last quarter. Finally, Cibc World Markets Corp boosted its stake in shares of Roper Technologies by 14.3% during the fourth quarter. Cibc World Markets Corp now owns 19,290 shares of the industrial products company’s stock valued at $10,028,000 after acquiring an additional 2,415 shares during the last quarter. 93.31% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have issued reports on ROP. TD Cowen upgraded shares of Roper Technologies from a “hold” rating to a “buy” rating and upped their target price for the company from $535.00 to $615.00 in a report on Tuesday, January 28th. Barclays reduced their price objective on shares of Roper Technologies from $569.00 to $562.00 and set an “underweight” rating on the stock in a research note on Wednesday, January 8th. Truist Financial reiterated a “buy” rating and issued a $675.00 price target (up from $665.00) on shares of Roper Technologies in a report on Friday, January 31st. Raymond James restated a “strong-buy” rating and set a $655.00 price objective (up previously from $620.00) on shares of Roper Technologies in a report on Friday, January 31st. Finally, JPMorgan Chase & Co. upped their target price on Roper Technologies from $539.00 to $558.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. One research analyst has rated the stock with a sell rating, three have issued a hold rating, six have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $623.60.

Roper Technologies Stock Performance

Shares of NYSE:ROP opened at $579.07 on Wednesday. The business has a 50-day moving average of $566.88 and a two-hundred day moving average of $553.02. The firm has a market capitalization of $62.18 billion, a PE ratio of 40.38, a P/E/G ratio of 2.77 and a beta of 1.06. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.40 and a quick ratio of 0.37. 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 announced a quarterly dividend, which will be paid on Tuesday, April 22nd. Investors 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 yield of 0.57%. The ex-dividend date of this dividend is Friday, April 4th. Roper Technologies’s dividend payout ratio (DPR) is presently 23.01%.

Insider Activity at Roper Technologies

In related news, Director Richard F. Wallman sold 351 shares of the stock in a transaction on 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 sale, the director now directly owns 20,187 shares in the company, valued at approximately $11,612,571.75. This represents a 1.71 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Jason Conley sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $588.19, for a total value of $1,764,570.00. Following the completion of the transaction, the chief financial officer now directly owns 31,522 shares in the company, valued at $18,540,925.18. This trade represents a 8.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 8,101 shares of company stock worth $4,712,045. 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.