PNC Financial Services Group Inc. Reduces Holdings in Roper Technologies, Inc. (NYSE:ROP)

PNC Financial Services Group Inc. lowered its stake in Roper Technologies, Inc. (NYSE:ROP) by 8.8% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 31,608 shares of the industrial products company’s stock after selling 3,044 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Roper Technologies were worth $16,431,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of ROP. Citigroup Inc. boosted its stake in shares of Roper Technologies by 17.6% during the third quarter. Citigroup Inc. now owns 190,587 shares of the industrial products company’s stock valued at $106,050,000 after acquiring an additional 28,555 shares during the last quarter. Douglas Lane & Associates LLC grew its stake in Roper Technologies by 18.9% in the 4th quarter. Douglas Lane & Associates LLC now owns 109,656 shares of the industrial products company’s stock worth $57,005,000 after acquiring an additional 17,466 shares during the period. Synovus Financial Corp raised its holdings in Roper Technologies by 19.6% in the 3rd quarter. Synovus Financial Corp now owns 5,867 shares of the industrial products company’s stock valued at $3,265,000 after acquiring an additional 961 shares during the last quarter. Harvest Fund Management Co. Ltd boosted its holdings in shares of Roper Technologies by 52.5% during the third quarter. Harvest Fund Management Co. Ltd now owns 4,938 shares of the industrial products company’s stock worth $2,747,000 after purchasing an additional 1,699 shares during the last quarter. Finally, Nordea Investment Management AB lifted its position in Roper Technologies by 8.5% during the fourth quarter. Nordea Investment Management AB now owns 538,678 shares of the industrial products company’s stock worth $280,113,000 after buying an additional 42,016 shares during the period. Institutional investors and hedge funds own 93.31% of the company’s stock.

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

ROP has been the subject of several recent analyst reports. Robert W. Baird set a $665.00 price target on Roper Technologies in a report on Friday, January 31st. Barclays lowered their target price on shares of Roper Technologies from $569.00 to $562.00 and set an “underweight” rating for the company in a report on Wednesday, January 8th. 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. boosted their price objective on shares of Roper Technologies from $539.00 to $558.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Finally, Oppenheimer increased their target price on Roper Technologies from $630.00 to $640.00 and gave the stock an “outperform” rating in a research report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, six have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $623.60.

Roper Technologies Trading Down 2.0 %

NYSE:ROP opened at $576.45 on Tuesday. The business’s 50-day moving average is $553.41 and its two-hundred day moving average is $551.43. The firm has a market capitalization of $61.90 billion, a PE ratio of 40.20, 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. 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 Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 22nd. Investors 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 annualized dividend and a dividend yield of 0.57%. Roper Technologies’s payout ratio is currently 23.01%.

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.