HSBC takes new $71M stake in Roper Technologies
What's the deal? HSBC HoldingsDealroom has a profile for this one. Try Dealroom → bought a new position in Roper TechnologiesDealroom has a profile for this one. Try Dealroom → during the second quarter, acquiring 209,740 shares worth roughly $70,956,000, according to Holdings Channel.com. Roper is an industrial products company listed on the Nasdaq under ROP.
Who else is buying? Bigger investors moved on the stock too. BlackRock opened a new position worth $3,346,912,000 in the second quarter, Norges BankDealroom has a profile for this one. Try Dealroom → one valued at $1,112,873,000, and Flossbach Von Storch a $448,321,000 stake. Institutional investors now own 93.31% of Roper.
What about insiders? Executives sold as institutions bought. EVP John K. Stipancich sold 2,000 shares at an average $379.05 on July 27, cutting his position 5.31%. Director Richard F. Wallman sold 6,434 shares at an average $361.00 on July 24, a 46.43% reduction.
Where's the stock? Shares opened at $413.28 on Thursday, above both the 50-day moving average of $372.19 and the 200-day average of $353.78. The company carries a market capitalisation of $40.87 billion, a price-to-earnings ratio of 17.12, and a 52-week range of $305.96 to $532.18.
What do analysts think? Views are split. Argus upgraded ROP to "buy" with a $450.00 target on August 6, while JPMorganDealroom has a profile for this one. Try Dealroom → lifted its target to $415.00 but kept an "underweight" rating on July 29. Seven analysts rate the stock a buy, nine a hold, and three a sell, for an average "hold" and a $466.94 target price.
The signal: HSBC's entry adds to heavy institutional accumulation in Roper, even as insiders trim holdings and analysts remain cautiously divided.
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Image credit: Ken Lund
