First Horizon Advisors Inc. Lowers Stake in Roper Technologies, Inc. (NYSE:ROP)

First Horizon Advisors Inc. cut its position in shares of Roper Technologies, Inc. (NYSE:ROP) by 13.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,019 shares of the industrial products company’s stock after selling 303 shares during the quarter. First Horizon Advisors Inc.’s holdings in Roper Technologies were worth $1,050,000 at the end of the most recent quarter.

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

Roper Technologies Trading Up 0.4 %

Shares of ROP stock opened at $576.58 on Tuesday. The firm’s 50 day moving average price is $541.92 and its two-hundred day moving average price is $548.28. Roper Technologies, Inc. has a fifty-two week low of $499.47 and a fifty-two week high of $584.43. The company has a quick ratio of 0.37, a current ratio of 0.40 and a debt-to-equity ratio of 0.35. The stock has a market cap of $61.83 billion, a price-to-earnings ratio of 40.21, a price-to-earnings-growth ratio of 2.77 and a beta of 1.05.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on ROP shares. TD Cowen upgraded shares of Roper Technologies from a “hold” rating to a “buy” rating and boosted their target price for the company from $535.00 to $615.00 in a report on Tuesday, January 28th. Barclays lowered their target price on shares of Roper Technologies from $569.00 to $562.00 and set an “underweight” rating for the company in a report on Wednesday, January 8th. JPMorgan Chase & Co. boosted their target price on shares of Roper Technologies from $539.00 to $558.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Truist Financial restated a “buy” rating and issued a $675.00 target price (up from $665.00) on shares of Roper Technologies in a report on Friday, January 31st. Finally, Oppenheimer boosted their target price on shares of Roper Technologies from $630.00 to $640.00 and gave the company an “outperform” rating in a report on Friday, January 31st. 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Roper Technologies currently has an average rating of “Moderate Buy” and an average price target of $623.60.

Insider Transactions at Roper Technologies

In other news, CFO Jason Conley sold 3,000 shares of the business’s stock in a transaction 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 directly owns 31,522 shares of the company’s stock, valued at approximately $18,221,292.10. The trade was a 8.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Brandon L. Cross sold 750 shares of the business’s stock in a transaction 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 transaction, the vice president now directly owns 1,329 shares in the company, valued at approximately $767,936.07. The trade was a 36.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,101 shares of company stock valued at $2,947,475. Corporate insiders own 0.87% of the company’s stock.

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.