PNC Financial Services Group Inc. Has $19.28 Million Stock Holdings in Roper Technologies, Inc. (NYSE:ROP)

PNC Financial Services Group Inc. increased its position in shares of Roper Technologies, Inc. (NYSE:ROP) by 5.4% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,652 shares of the industrial products company’s stock after purchasing an additional 1,789 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Roper Technologies were worth $19,282,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. grew its holdings in shares of Roper Technologies by 4.0% during the second quarter. Principal Financial Group Inc. now owns 2,683,909 shares of the industrial products company’s stock worth $1,512,813,000 after purchasing an additional 102,199 shares during the last quarter. Mackenzie Financial Corp increased its position in Roper Technologies by 3.1% in the 2nd quarter. Mackenzie Financial Corp now owns 1,119,023 shares of the industrial products company’s stock valued at $630,749,000 after acquiring an additional 33,544 shares in the last quarter. Legal & General Group Plc lifted its position in shares of Roper Technologies by 7.6% during the second quarter. Legal & General Group Plc now owns 914,499 shares of the industrial products company’s stock worth $515,467,000 after purchasing an additional 64,565 shares in the last quarter. Mirova US LLC grew its stake in shares of Roper Technologies by 2.1% during the second quarter. Mirova US LLC now owns 700,651 shares of the industrial products company’s stock valued at $394,929,000 after purchasing an additional 14,501 shares during the last quarter. Finally, American Century Companies Inc. increased its holdings in shares of Roper Technologies by 24.4% in the second quarter. American Century Companies Inc. now owns 605,769 shares of the industrial products company’s stock valued at $341,448,000 after purchasing an additional 118,971 shares in the last quarter. 93.31% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on ROP. Oppenheimer decreased their price objective on Roper Technologies from $650.00 to $630.00 and set an “outperform” rating on the stock in a research report on Thursday, July 25th. Robert W. Baird lifted their price objective on Roper Technologies from $635.00 to $652.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Royal Bank of Canada dropped their price objective on Roper Technologies from $675.00 to $666.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Mizuho raised their target price on shares of Roper Technologies from $530.00 to $565.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Finally, Jefferies Financial Group boosted their price target on shares of Roper Technologies from $625.00 to $635.00 and gave the stock a “buy” rating in a research note on Friday, August 16th. Three equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Roper Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $620.80.

Roper Technologies Stock Up 0.8 %

Roper Technologies stock opened at $553.82 on Friday. Roper Technologies, Inc. has a fifty-two week low of $508.22 and a fifty-two week high of $579.10. 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 market capitalization of $59.39 billion, a price-to-earnings ratio of 40.51, a PEG ratio of 2.86 and a beta of 1.03. The company’s 50 day simple moving average is $552.26 and its 200 day simple moving average is $548.72.

Roper Technologies (NYSE:ROP) last announced its quarterly earnings results on Wednesday, October 23rd. The industrial products company reported $4.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.53 by $0.09. The company had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.72 billion. Roper Technologies had a net margin of 21.78% and a return on equity of 10.73%. The firm’s revenue was up 11.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.32 EPS. As a group, sell-side analysts anticipate that Roper Technologies, Inc. will post 18.24 EPS for the current year.

Roper Technologies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Friday, January 3rd will be given a $0.825 dividend. The ex-dividend date of this dividend is Friday, January 3rd. This is a positive change from Roper Technologies’s previous quarterly dividend of $0.75. This represents a $3.30 annualized dividend and a dividend yield of 0.60%. Roper Technologies’s payout ratio is currently 21.95%.

Insider Buying and Selling

In other news, Director Richard F. Wallman sold 1,000 shares of the stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $550.00, for a total transaction of $550,000.00. Following the completion of the sale, the director now owns 32,955 shares of the company’s stock, valued at $18,125,250. This represents a 2.95 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.87% of the stock is owned by company insiders.

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.