First Merchants Corp Lowers Position in Roper Technologies, Inc. (NYSE:ROP)

First Merchants Corp decreased its stake in shares of Roper Technologies, Inc. (NYSE:ROP) by 3.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,299 shares of the industrial products company’s stock after selling 71 shares during the quarter. First Merchants Corp’s holdings in Roper Technologies were worth $1,195,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Fortitude Family Office LLC purchased a new stake in Roper Technologies in the 3rd quarter worth $28,000. E Fund Management Hong Kong Co. Ltd. increased its holdings in shares of Roper Technologies by 7,500.0% in the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 76 shares of the industrial products company’s stock worth $40,000 after purchasing an additional 75 shares during the last quarter. Golden State Wealth Management LLC purchased a new stake in shares of Roper Technologies in the fourth quarter worth about $45,000. Ameliora Wealth Management Ltd. bought a new position in Roper Technologies during the fourth quarter valued at approximately $49,000. Finally, Global Wealth Strategies & Associates grew its holdings in Roper Technologies by 49.3% during the 4th quarter. Global Wealth Strategies & Associates now owns 100 shares of the industrial products company’s stock valued at $52,000 after buying an additional 33 shares in the last quarter. 93.31% of the stock is owned by hedge funds and other institutional investors.

Roper Technologies Stock Performance

Shares of NYSE:ROP opened at $573.43 on Friday. The company has a current ratio of 0.40, a quick ratio of 0.37 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $61.49 billion, a price-to-earnings ratio of 31.85, a PEG ratio of 2.78 and a beta of 1.05. Roper Technologies, Inc. has a 12 month low of $499.47 and a 12 month high of $584.43. The firm’s 50-day moving average is $537.70 and its 200 day moving average is $545.76.

Insider Activity

In related news, VP Brandon L. Cross sold 750 shares of Roper Technologies stock in a transaction dated Tuesday, February 4th. The shares were 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 trade represents a 36.08 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Jason Conley sold 3,000 shares of the company’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $578.05, for a total transaction of $1,734,150.00. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,101 shares of company stock valued at $2,947,475. 0.87% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts have recently issued reports on ROP shares. Truist Financial reaffirmed a “buy” rating and set a $675.00 price objective (up from $665.00) on shares of Roper Technologies in a report on Friday, January 31st. Royal Bank of Canada decreased their price target on shares of Roper Technologies from $675.00 to $666.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Oppenheimer lifted their price objective on shares of Roper Technologies from $630.00 to $640.00 and gave the stock an “outperform” rating in a research note on Friday, January 31st. TD Cowen upgraded shares of Roper Technologies from a “hold” rating to a “buy” rating and upped their target price for the company from $535.00 to $615.00 in a research report on Tuesday, January 28th. Finally, Barclays dropped 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 research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Roper Technologies presently has a consensus rating of “Moderate Buy” and an average target price of $622.30.

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.