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

M&T Bank Corp decreased its position in shares of Roper Technologies, Inc. (NYSE:ROP) by 6.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 40,999 shares of the industrial products company’s stock after selling 2,720 shares during the quarter. M&T Bank Corp’s holdings in Roper Technologies were worth $22,814,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. PNC Financial Services Group Inc. boosted its position 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 valued at $19,282,000 after buying an additional 1,789 shares during the last quarter. Citigroup Inc. boosted its holdings in shares of Roper Technologies by 17.6% during the 3rd quarter. Citigroup Inc. now owns 190,587 shares of the industrial products company’s stock valued at $106,050,000 after acquiring an additional 28,555 shares during the last quarter. Harvest Fund Management Co. Ltd grew its stake in shares of Roper Technologies by 52.5% in the third quarter. Harvest Fund Management Co. Ltd now owns 4,938 shares of the industrial products company’s stock worth $2,747,000 after acquiring an additional 1,699 shares during the period. CIBC Asset Management Inc raised its holdings in shares of Roper Technologies by 3.7% during the third quarter. CIBC Asset Management Inc now owns 49,221 shares of the industrial products company’s stock valued at $27,382,000 after purchasing an additional 1,775 shares during the last quarter. Finally, OneAscent Wealth Management LLC purchased a new stake in Roper Technologies in the third quarter worth approximately $600,000. Institutional investors own 93.31% of the company’s stock.

Insider Buying and Selling at Roper Technologies

In other news, Director Richard F. Wallman sold 1,000 shares of Roper Technologies stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $550.00, for a total value of $550,000.00. Following the sale, the director now directly owns 32,955 shares of the company’s stock, valued at approximately $18,125,250. The trade was a 2.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.87% of the company’s stock.

Roper Technologies Stock Performance

Shares of NYSE ROP opened at $525.40 on Friday. The stock has a market cap of $56.34 billion, a PE ratio of 38.43, a price-to-earnings-growth ratio of 2.84 and a beta of 1.02. Roper Technologies, Inc. has a 1 year low of $508.22 and a 1 year high of $580.09. The firm has a fifty day moving average price of $552.81 and a 200-day moving average price of $551.56. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.48 and a quick ratio of 0.44.

Roper Technologies (NYSE:ROP) last issued its quarterly earnings results on Wednesday, October 23rd. The industrial products company reported $4.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.53 by $0.09. Roper Technologies had a return on equity of 10.73% and a net margin of 21.78%. The business had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.72 billion. During the same quarter in the prior year, the business posted $4.32 EPS. Roper Technologies’s revenue for the quarter was up 11.7% compared to the same quarter last year. Equities analysts anticipate that Roper Technologies, Inc. will post 18.26 earnings per share for the current fiscal year.

Roper Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Friday, January 3rd will be paid a $0.825 dividend. This represents a $3.30 annualized dividend and a yield of 0.63%. This is an increase from Roper Technologies’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend is Friday, January 3rd. Roper Technologies’s dividend payout ratio is presently 24.14%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Mizuho boosted 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. Royal Bank of Canada lowered their target price on Roper Technologies from $675.00 to $666.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Barclays reissued an “underweight” rating and issued a $569.00 target price (down from $625.00) on shares of Roper Technologies in a research report on Thursday, December 5th. Robert W. Baird increased their price objective on shares of Roper Technologies from $635.00 to $652.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Finally, Truist Financial restated a “buy” rating and set a $665.00 target price (up from $660.00) on shares of Roper Technologies in a research report on Thursday, October 24th. One 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 stock. According to MarketBeat.com, Roper Technologies presently has an average rating of “Moderate Buy” and an average target price of $615.20.

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.