PNC Financial Services Group Inc. Has $19.37 Million Position in Roper Technologies, Inc. (NYSE:ROP)

Key Points

• PNC Financial Services Group Inc. increased its stake in Roper Technologies by 3.9%, owning 32,850 shares worth approximately $19.37 million at the end of the last quarter.
• Insiders at Roper Technologies have recently sold shares, including VP John K. Stipancich, who sold 1,500 shares valued at $846,255, reducing his ownership by 3.71%.
• Wall Street analysts have a consensus rating of "Moderate Buy" for Roper Technologies, with an average price target of $637.18, following a recent quarterly earnings report showing earnings per share of $4.87.

PNC Financial Services Group Inc. raised its stake in shares of Roper Technologies, Inc. (NYSE:ROP - Free Report) by 3.9% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 32,850 shares of the industrial products company's stock after purchasing an additional 1,242 shares during the period. PNC Financial Services Group Inc.'s holdings in Roper Technologies were worth $19,368,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. Meridian Financial Partners LLC increased its position in shares of Roper Technologies by 0.9% in the first quarter. Meridian Financial Partners LLC now owns 2,071 shares of the industrial products company's stock worth $1,221,000 after acquiring an additional 19 shares in the last quarter. My Legacy Advisors LLC increased its position in shares of Roper Technologies by 1.5% in the first quarter. My Legacy Advisors LLC now owns 1,273 shares of the industrial products company's stock worth $751,000 after acquiring an additional 19 shares in the last quarter. Smith Shellnut Wilson LLC ADV increased its position in shares of Roper Technologies by 2.7% in the fourth quarter. Smith Shellnut Wilson LLC ADV now owns 767 shares of the industrial products company's stock worth $399,000 after acquiring an additional 20 shares in the last quarter. Tritonpoint Wealth LLC increased its position in shares of Roper Technologies by 2.7% in the first quarter. Tritonpoint Wealth LLC now owns 760 shares of the industrial products company's stock worth $448,000 after acquiring an additional 20 shares in the last quarter. Finally, Winch Advisory Services LLC increased its position in shares of Roper Technologies by 2.2% in the first quarter. Winch Advisory Services LLC now owns 944 shares of the industrial products company's stock worth $557,000 after acquiring an additional 20 shares in the last quarter. Institutional investors and hedge funds own 93.31% of the company's stock.

Insider Activity

In other news, VP John K. Stipancich sold 1,500 shares of Roper Technologies stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $564.17, for a total value of $846,255.00. Following the transaction, the vice president owned 38,932 shares of the company's stock, valued at $21,964,266.44. The trade was a 3.71% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Richard F. Wallman sold 352 shares of Roper Technologies stock in a transaction that occurred on Tuesday, July 22nd. The stock was sold at an average price of $556.25, for a total transaction of $195,800.00. Following the completion of the transaction, the director directly owned 20,510 shares in the company, valued at $11,408,687.50. This represents a 1.69% decrease in their position. The disclosure for this sale can be found here. 0.78% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on ROP. Mizuho set a $600.00 price target on shares of Roper Technologies in a report on Friday, May 16th. Barclays reaffirmed an "underweight" rating on shares of Roper Technologies in a report on Monday, April 28th. Raymond James Financial reiterated a "strong-buy" rating and set a $655.00 price objective on shares of Roper Technologies in a research note on Monday, April 28th. Truist Financial increased their price objective on shares of Roper Technologies from $675.00 to $685.00 and gave the company a "buy" rating in a research note on Tuesday, July 22nd. Finally, JPMorgan Chase & Co. increased their price objective on shares of Roper Technologies from $561.00 to $577.00 and gave the company a "neutral" rating in a research note on Tuesday, July 22nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $637.18.

Roper Technologies Stock Performance

NYSE:ROP traded up $3.91 during mid-day trading on Wednesday, hitting $541.84. The stock had a trading volume of 493,715 shares, compared to its average volume of 616,324. The stock has a market capitalization of $58.26 billion, a price-to-earnings ratio of 37.79, a P/E/G ratio of 2.77 and a beta of 0.99. The company has a 50 day simple moving average of $560.90 and a 200-day simple moving average of $565.05. Roper Technologies, Inc. has a 52 week low of $499.47 and a 52 week high of $595.17. The company has a current ratio of 0.40, a quick ratio of 0.37 and a debt-to-equity ratio of 0.35.

Roper Technologies (NYSE:ROP - Get Free Report) last issued its quarterly earnings data on Monday, July 21st. The industrial products company reported $4.87 earnings per share for the quarter, beating the consensus estimate of $4.83 by $0.04. Roper Technologies had a net margin of 22.01% and a return on equity of 10.79%. The business's revenue was up 13.2% on a year-over-year basis. During the same period in the prior year, the firm posted $4.48 EPS. On average, research analysts expect that Roper Technologies, Inc. will post 19.96 earnings per share for the current fiscal year.

Roper Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 17th. Shareholders of record on Friday, October 3rd will be paid a dividend of $0.825 per share. This represents a $3.30 annualized dividend and a yield of 0.6%. Roper Technologies's payout ratio is 23.19%.

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.