Principal Financial Group Inc. Sells 96,515 Shares of Roper Technologies, Inc. (NYSE:ROP)

Principal Financial Group Inc. reduced its position in shares of Roper Technologies, Inc. (NYSE:ROP - Free Report) by 3.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,592,118 shares of the industrial products company's stock after selling 96,515 shares during the period. Roper Technologies accounts for approximately 0.7% of Principal Financial Group Inc.'s portfolio, making the stock its 25th largest position. Principal Financial Group Inc. owned 2.42% of Roper Technologies worth $1,347,513,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Ledyard National Bank boosted its holdings in shares of Roper Technologies by 2.1% during the third quarter. Ledyard National Bank now owns 896 shares of the industrial products company's stock worth $499,000 after purchasing an additional 18 shares during the period. Manchester Capital Management LLC raised its stake in Roper Technologies by 1.6% in the fourth quarter. Manchester Capital Management LLC now owns 1,139 shares of the industrial products company's stock worth $592,000 after buying an additional 18 shares in the last quarter. Meridian Financial Partners LLC raised its stake in Roper Technologies by 1.0% in the fourth quarter. Meridian Financial Partners LLC now owns 2,052 shares of the industrial products company's stock worth $1,067,000 after buying an additional 20 shares in the last quarter. Principal Securities Inc. raised its stake in Roper Technologies by 0.5% in the fourth quarter. Principal Securities Inc. now owns 4,291 shares of the industrial products company's stock worth $2,231,000 after buying an additional 20 shares in the last quarter. Finally, Cromwell Holdings LLC raised its stake in Roper Technologies by 6.8% in the third quarter. Cromwell Holdings LLC now owns 332 shares of the industrial products company's stock worth $185,000 after buying an additional 21 shares in the last quarter. 93.31% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on ROP shares. Royal Bank of Canada decreased their price target on shares of Roper Technologies from $675.00 to $666.00 and set an "outperform" rating for the company in a research note on Thursday, October 24th. TD Cowen raised shares of Roper Technologies from a "hold" rating to a "buy" rating and increased their price target for the stock from $535.00 to $615.00 in a research note on Tuesday, January 28th. Truist Financial reissued a "buy" rating and issued a $675.00 price target (up from $665.00) on shares of Roper Technologies in a research note on Friday, January 31st. Robert W. Baird raised their target price on shares of Roper Technologies from $635.00 to $652.00 and gave the company an "outperform" rating in a research note on Thursday, October 24th. Finally, JPMorgan Chase & Co. raised their target price on shares of Roper Technologies from $539.00 to $558.00 and gave the company a "neutral" rating in a research note on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, six have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $622.30.

Insider Activity at Roper Technologies

In related news, Director Richard F. Wallman sold 351 shares of the firm's stock in a transaction that occurred on Friday, January 31st. The shares were 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 in the company, valued at approximately $11,612,571.75. This trade represents a 1.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Brandon L. Cross sold 750 shares of the firm's stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $577.83, for a total transaction of $433,372.50. Following the completion of the sale, the vice president now owns 1,329 shares in the company, valued at $767,936.07. This represents a 36.08 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,101 shares of company stock valued at $2,947,475 over the last 90 days. Corporate insiders own 0.87% of the company's stock.

Roper Technologies Stock Up 0.8 %

Shares of ROP traded up $4.38 on Thursday, hitting $581.42. 474,667 shares of the stock traded hands, compared to its average volume of 653,126. The company has a market capitalization of $62.35 billion, a PE ratio of 40.55, a P/E/G ratio of 2.73 and a beta of 1.05. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.37 and a current ratio of 0.40. The business has a 50 day simple moving average of $539.96 and a 200 day simple moving average of $546.84. Roper Technologies, Inc. has a one year low of $499.47 and a one year high of $584.43.

Roper Technologies 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.