Fifth Third Bancorp Trims Stake in Roper Technologies, Inc. (NYSE:ROP)

Fifth Third Bancorp reduced its holdings in shares of Roper Technologies, Inc. (NYSE:ROP) by 2.3% during the 4th quarter, HoldingsChannel reports. The firm owned 12,142 shares of the industrial products company’s stock after selling 289 shares during the period. Fifth Third Bancorp’s holdings in Roper Technologies were worth $6,312,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Fortitude Family Office LLC acquired a new stake in shares of Roper Technologies during the third quarter worth $28,000. Global Wealth Strategies & Associates purchased a new position in Roper Technologies during the third quarter worth about $37,000. Kimelman & Baird LLC purchased a new stake in Roper Technologies in the 2nd quarter valued at approximately $42,000. Central Pacific Bank Trust Division increased its position in Roper Technologies by 34.4% during the 3rd quarter. Central Pacific Bank Trust Division now owns 86 shares of the industrial products company’s stock worth $48,000 after purchasing an additional 22 shares during the period. Finally, Versant Capital Management Inc raised its stake in shares of Roper Technologies by 40.7% during the 4th quarter. Versant Capital Management Inc now owns 114 shares of the industrial products company’s stock worth $59,000 after buying an additional 33 shares in the last quarter. Institutional investors and hedge funds own 93.31% of the company’s stock.

Roper Technologies Trading Down 0.4 %

Shares of ROP opened at $531.37 on Monday. Roper Technologies, Inc. has a 1-year low of $499.47 and a 1-year high of $580.09. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.48 and a quick ratio of 0.44. The firm has a 50 day simple moving average of $535.54 and a 200-day simple moving average of $544.92. The stock has a market cap of $56.98 billion, a price-to-earnings ratio of 38.87, a price-to-earnings-growth ratio of 2.55 and a beta of 1.04.

Roper Technologies Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Friday, January 3rd were issued a $0.825 dividend. This represents a $3.30 dividend on an annualized basis and a dividend yield of 0.62%. This is a boost from Roper Technologies’s previous quarterly dividend of $0.75. The ex-dividend date was Friday, January 3rd. Roper Technologies’s payout ratio is 24.14%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Royal Bank of Canada dropped their price objective on Roper Technologies from $675.00 to $666.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Truist Financial reiterated a “buy” rating and issued a $665.00 price target (up previously from $660.00) on shares of Roper Technologies in a report on Thursday, October 24th. Mizuho boosted their price objective on shares of Roper Technologies from $530.00 to $565.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Oppenheimer began coverage on shares of Roper Technologies in a report on Monday, December 23rd. They issued an “outperform” rating and a $630.00 target price for the company. Finally, Robert W. Baird upped their price target on Roper Technologies from $635.00 to $652.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. One analyst has rated the stock with a sell rating, two have issued a hold rating, five have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $624.38.

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.