PNC Financial Services Group Inc. Trims Stock Position in Roper Technologies, Inc. (NYSE:ROP)

PNC Financial Services Group Inc. cut its holdings in Roper Technologies, Inc. (NYSE:ROP) by 8.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 31,608 shares of the industrial products company’s stock after selling 3,044 shares during the period. PNC Financial Services Group Inc.’s holdings in Roper Technologies were worth $16,431,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Manchester Capital Management LLC grew its holdings in shares of Roper Technologies by 1.6% during the fourth quarter. Manchester Capital Management LLC now owns 1,139 shares of the industrial products company’s stock worth $592,000 after purchasing an additional 18 shares during the last quarter. Meridian Financial Partners LLC boosted its position in shares of Roper Technologies by 1.0% in the 4th quarter. Meridian Financial Partners LLC now owns 2,052 shares of the industrial products company’s stock valued at $1,067,000 after purchasing an additional 20 shares during the period. Principal Securities Inc. grew its stake in Roper Technologies by 0.5% during the 4th quarter. Principal Securities Inc. now owns 4,291 shares of the industrial products company’s stock worth $2,231,000 after buying an additional 20 shares during the last quarter. Exchange Capital Management Inc. increased its position in Roper Technologies by 0.7% during the fourth quarter. Exchange Capital Management Inc. now owns 2,744 shares of the industrial products company’s stock worth $1,426,000 after buying an additional 20 shares during the period. Finally, PFG Investments LLC lifted its stake in Roper Technologies by 1.1% in the fourth quarter. PFG Investments LLC now owns 1,946 shares of the industrial products company’s stock valued at $1,011,000 after buying an additional 21 shares during the last quarter. 93.31% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CFO Jason Conley sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $578.05, for a total transaction of $1,734,150.00. Following the sale, the chief financial officer now owns 31,522 shares of the company’s stock, valued at $18,221,292.10. The trade was a 8.69 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP John K. Stipancich sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $578.04, for a total value of $578,040.00. Following the completion of the transaction, the vice president now directly owns 38,932 shares of the company’s stock, valued at $22,504,253.28. The trade was a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 8,101 shares of company stock worth $4,712,045. Corporate insiders own 0.87% of the company’s stock.

Roper Technologies Stock Down 2.0 %

ROP opened at $576.45 on Tuesday. 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. The stock has a market capitalization of $61.90 billion, a P/E ratio of 40.20, a P/E/G ratio of 2.77 and a beta of 1.06. The business has a 50 day simple moving average of $553.41 and a 200-day simple moving average of $551.43.

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 $0.825 dividend. This represents a $3.30 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date is Friday, April 4th. Roper Technologies’s dividend payout ratio (DPR) is currently 23.01%.

Wall Street Analysts Forecast Growth

ROP has been the topic of a number of recent research reports. Robert W. Baird set a $665.00 target price on shares of Roper Technologies in a report on Friday, January 31st. Oppenheimer lifted their price objective on shares of Roper Technologies from $630.00 to $640.00 and gave the company an “outperform” rating in a research note on Friday, January 31st. Raymond James reaffirmed a “strong-buy” rating and issued a $655.00 target price (up from $620.00) on shares of Roper Technologies in a report on Friday, January 31st. TD Cowen raised Roper Technologies from a “hold” rating to a “buy” rating and raised their price target for the stock from $535.00 to $615.00 in a report on Tuesday, January 28th. Finally, JPMorgan Chase & Co. upped their price objective 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 analyst has rated the stock with a sell rating, three have given a hold rating, six have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $623.60.

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.