Bank of New York Mellon Corp Sells 163,547 Shares of Roper Technologies, Inc. (NYSE:ROP)

Bank of New York Mellon Corp reduced its stake in shares of Roper Technologies, Inc. (NYSE:ROP) by 15.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 912,253 shares of the industrial products company’s stock after selling 163,547 shares during the quarter. Bank of New York Mellon Corp owned about 0.85% of Roper Technologies worth $474,234,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. PNC Financial Services Group Inc. raised its holdings in shares of Roper Technologies by 5.4% during the third quarter. PNC Financial Services Group Inc. now owns 34,652 shares of the industrial products company’s stock worth $19,282,000 after acquiring an additional 1,789 shares during the period. Citigroup Inc. raised its holdings 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 worth $106,050,000 after acquiring an additional 28,555 shares during the period. Douglas Lane & Associates LLC increased 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 valued at $57,005,000 after buying an additional 17,466 shares during the last quarter. Synovus Financial Corp lifted its position in Roper Technologies by 19.6% during the 3rd quarter. Synovus Financial Corp now owns 5,867 shares of the industrial products company’s stock worth $3,265,000 after buying an additional 961 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd lifted its position in Roper Technologies by 52.5% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 4,938 shares of the industrial products company’s stock worth $2,747,000 after buying an additional 1,699 shares in the last quarter. 93.31% of the stock is owned by institutional investors.

Insider Activity at Roper Technologies

In other Roper Technologies news, CFO Jason Conley sold 3,000 shares of the stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $578.05, for a total transaction of $1,734,150.00. Following the transaction, the chief financial officer now owns 31,522 shares in the company, valued at $18,221,292.10. This represents a 8.69 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP John K. Stipancich sold 1,000 shares of the stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $578.04, for a total transaction of $578,040.00. Following the transaction, the vice president now owns 38,932 shares in the company, valued at approximately $22,504,253.28. The trade was a 2.50 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,101 shares of company stock worth $2,947,475. Insiders own 0.87% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Oppenheimer boosted their price target on shares of 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 target on shares of Roper Technologies from $539.00 to $558.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. TD Cowen raised shares of Roper Technologies from a “hold” rating to a “buy” rating and boosted their price target for the stock from $535.00 to $615.00 in a research report on Tuesday, January 28th. Truist Financial reissued a “buy” rating and set a $675.00 price target (up from $665.00) on shares of Roper Technologies in a research report on Friday, January 31st. Finally, Barclays cut their price target on shares of Roper Technologies from $569.00 to $562.00 and set an “underweight” rating on the stock in a research report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, six have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $623.60.

Roper Technologies Stock Up 1.9 %

Shares of ROP opened at $587.34 on Wednesday. Roper Technologies, Inc. has a 52 week low of $499.47 and a 52 week high of $593.91. The firm has a market cap of $62.98 billion, a P/E ratio of 40.96, a price-to-earnings-growth ratio of 2.77 and a beta of 1.05. The firm’s 50-day simple moving average is $542.93 and its 200 day simple moving average is $548.71. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.37 and a current ratio of 0.40.

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.