M&T Bank Corp Decreases Stake in Roper Technologies, Inc. (NYSE:ROP)

M&T Bank Corp cut its stake in shares of Roper Technologies, Inc. (NYSE:ROP) by 13.9% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 35,294 shares of the industrial products company’s stock after selling 5,705 shares during the quarter. M&T Bank Corp’s holdings in Roper Technologies were worth $18,347,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. State Street Corp grew its stake in Roper Technologies by 2.9% during the 3rd quarter. State Street Corp now owns 4,730,427 shares of the industrial products company’s stock valued at $2,632,199,000 after purchasing an additional 132,575 shares during the last quarter. Geode Capital Management LLC boosted its position in Roper Technologies by 2.1% in the third quarter. Geode Capital Management LLC now owns 2,447,026 shares of the industrial products company’s stock valued at $1,357,162,000 after buying an additional 51,131 shares during the last quarter. Wellington Management Group LLP increased its holdings in Roper Technologies by 87.8% in the 3rd quarter. Wellington Management Group LLP now owns 738,582 shares of the industrial products company’s stock worth $410,977,000 after buying an additional 345,268 shares during the period. Charles Schwab Investment Management Inc. raised its position in Roper Technologies by 3.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 673,193 shares of the industrial products company’s stock worth $349,959,000 after buying an additional 24,290 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in Roper Technologies by 7.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 662,033 shares of the industrial products company’s stock valued at $368,382,000 after acquiring an additional 45,947 shares during the period. Hedge funds and other institutional investors own 93.31% of the company’s stock.

Roper Technologies Stock Up 1.5 %

Roper Technologies stock opened at $593.81 on Thursday. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.40 and a quick ratio of 0.37. The stock has a market capitalization of $63.77 billion, a PE ratio of 41.41, a price-to-earnings-growth ratio of 2.77 and a beta of 1.05. The business has a 50 day simple moving average of $549.76 and a 200-day simple moving average of $550.66. Roper Technologies, Inc. has a 12 month low of $499.47 and a 12 month high of $595.17.

Analyst Ratings Changes

A number of analysts have recently weighed in on ROP shares. Truist Financial reiterated a “buy” rating and issued a $675.00 price objective (up previously from $665.00) on shares of Roper Technologies in a research note on Friday, January 31st. Oppenheimer increased their price target on Roper Technologies from $630.00 to $640.00 and gave the stock an “outperform” rating in a research report on Friday, January 31st. JPMorgan Chase & Co. boosted their price objective on Roper Technologies from $539.00 to $558.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Raymond James restated a “strong-buy” rating and issued a $655.00 target price (up previously from $620.00) on shares of Roper Technologies in a research note on Friday, January 31st. Finally, Barclays reduced their price target on Roper Technologies from $569.00 to $562.00 and set an “underweight” rating for the company in a research report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $623.60.

Insider Activity at Roper Technologies

In related news, CFO Jason Conley sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $588.19, for a total value of $1,764,570.00. Following the transaction, the chief financial officer now directly owns 31,522 shares of the company’s stock, valued at approximately $18,540,925.18. This trade represents a 8.69 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Richard F. Wallman sold 351 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $575.25, for a total value of $201,912.75. Following the sale, the director now 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 ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 8,101 shares of company stock valued at $4,712,045. 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.