Morey & Quinn Wealth Partners LLC Makes New Investment in Roper Technologies, Inc. (NYSE:ROP)

Morey & Quinn Wealth Partners LLC bought a new stake in Roper Technologies, Inc. (NYSE:ROP) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 387 shares of the industrial products company’s stock, valued at approximately $201,000.

Several other hedge funds also recently made changes to their positions in the company. VSM Wealth Advisory LLC purchased a new position in shares of Roper Technologies during the fourth quarter valued at approximately $26,000. CoreFirst Bank & Trust bought a new position in Roper Technologies during the 4th quarter valued at approximately $36,000. OFI Invest Asset Management purchased a new position in Roper Technologies during the fourth quarter valued at $38,000. E Fund Management Hong Kong Co. Ltd. boosted its holdings in Roper Technologies by 7,500.0% in the fourth 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 purchased a new stake in shares of Roper Technologies in the fourth quarter worth $45,000. 93.31% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. TD Cowen upgraded shares of Roper Technologies from a “hold” rating to a “buy” rating and raised their price objective for the company from $535.00 to $615.00 in a research note on Tuesday, January 28th. Oppenheimer boosted their price objective on shares of Roper Technologies from $630.00 to $640.00 and gave the stock an “outperform” rating in a report on Friday, January 31st. Raymond James reiterated a “strong-buy” rating and set a $655.00 target price (up from $620.00) on shares of Roper Technologies in a research note on Friday, January 31st. Robert W. Baird set a $665.00 price target on Roper Technologies in a research note on Friday, January 31st. Finally, Barclays dropped their price objective on Roper Technologies from $569.00 to $562.00 and set an “underweight” rating on the stock in a research report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, six have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $623.60.

Roper Technologies Price Performance

NYSE ROP opened at $582.71 on Thursday. The company has a 50-day moving average price of $568.17 and a 200-day moving average price of $553.23. Roper Technologies, Inc. has a 52 week low of $499.47 and a 52 week high of $595.17. The company has a quick ratio of 0.37, a current ratio of 0.40 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $62.57 billion, a P/E ratio of 40.64, a PEG ratio of 2.77 and a beta of 1.06.

Roper Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 22nd. Shareholders of record on Friday, April 4th will be issued a dividend of $0.825 per share. The ex-dividend date of this dividend is Friday, April 4th. This represents a $3.30 dividend on an annualized basis and a yield of 0.57%. Roper Technologies’s dividend payout ratio is currently 23.01%.

Insiders Place Their Bets

In other news, CFO Jason Conley sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $588.19, for a total value of $1,764,570.00. Following the transaction, the chief financial officer now owns 31,522 shares of the company’s stock, valued at $18,540,925.18. This trade represents a 8.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Richard F. Wallman sold 351 shares of Roper Technologies stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $575.25, for a total value of $201,912.75. Following the transaction, the director now directly owns 20,187 shares in the company, valued at approximately $11,612,571.75. The trade was a 1.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 8,101 shares of company stock worth $4,712,045. Company insiders own 0.87% of the company’s stock.

About Roper Technologies

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.