Connecticut Wealth Management LLC Reduces Stock Holdings in IDEX Co. (NYSE:IEX)

Connecticut Wealth Management LLC decreased its holdings in shares of IDEX Co. (NYSE:IEX) by 10.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,024 shares of the industrial products company’s stock after selling 118 shares during the quarter. Connecticut Wealth Management LLC’s holdings in IDEX were worth $222,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Commonwealth Equity Services LLC boosted its position in shares of IDEX by 1.3% during the third quarter. Commonwealth Equity Services LLC now owns 4,289 shares of the industrial products company’s stock worth $892,000 after buying an additional 53 shares during the period. Raymond James & Associates grew its stake in shares of IDEX by 13.3% in the third quarter. Raymond James & Associates now owns 68,781 shares of the industrial products company’s stock worth $14,308,000 after acquiring an additional 8,083 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in IDEX by 13.0% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 124,299 shares of the industrial products company’s stock worth $25,857,000 after purchasing an additional 14,317 shares during the period. Mackenzie Financial Corp increased its stake in shares of IDEX by 4.5% during the third quarter. Mackenzie Financial Corp now owns 6,667 shares of the industrial products company’s stock worth $1,380,000 after buying an additional 290 shares during the period. Finally, IFM Investors Pty Ltd increased its position in shares of IDEX by 3.8% in the 3rd quarter. IFM Investors Pty Ltd now owns 20,051 shares of the industrial products company’s stock valued at $4,171,000 after purchasing an additional 731 shares during the last quarter. 97.96% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on IEX. Citigroup upped their price objective on IDEX from $254.00 to $277.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. StockNews.com lowered shares of IDEX from a “buy” rating to a “hold” rating in a research note on Thursday. Royal Bank of Canada restated an “outperform” rating and issued a $255.00 price objective on shares of IDEX in a research report on Thursday, March 21st. Stifel Nicolaus raised IDEX from a “hold” rating to a “buy” rating and increased their target price for the stock from $215.00 to $265.00 in a research note on Thursday, February 8th. Finally, Robert W. Baird decreased their price target on IDEX from $260.00 to $256.00 and set an “outperform” rating on the stock in a research note on Thursday, April 25th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $250.71.

IDEX Stock Up 1.3 %

IEX stock traded up $2.79 during midday trading on Monday, hitting $223.21. 184,897 shares of the company’s stock were exchanged, compared to its average volume of 378,562. The stock has a market capitalization of $16.89 billion, a price-to-earnings ratio of 29.27, a price-to-earnings-growth ratio of 2.21 and a beta of 0.99. The company has a current ratio of 3.37, a quick ratio of 2.45 and a debt-to-equity ratio of 0.37. The firm has a 50 day moving average price of $235.22 and a 200-day moving average price of $217.49. IDEX Co. has a 12-month low of $183.76 and a 12-month high of $246.36.

IDEX (NYSE:IEX) last released its earnings results on Tuesday, April 23rd. The industrial products company reported $1.88 earnings per share for the quarter, topping the consensus estimate of $1.76 by $0.12. IDEX had a net margin of 17.89% and a return on equity of 17.60%. The company had revenue of $801.00 million during the quarter, compared to the consensus estimate of $807.52 million. During the same quarter in the previous year, the firm earned $2.09 EPS. The company’s revenue was down 5.3% on a year-over-year basis. On average, analysts anticipate that IDEX Co. will post 8.33 EPS for the current year.

IDEX Profile

IDEX Corporation, together with its subsidiaries, provides applied solutions worldwide. The company operates through three segments: Fluid & Metering Technologies (FMT), Health & Science Technologies (HST), and Fire & Safety/Diversified Products (FSDP). The FMT segment designs, produces, and distributes positive displacement pumps, valves, small volume provers, flow meters, injectors, and other fluid-handling pump modules and systems, as well as flow monitoring and other services for the food, chemical, general industrial, water and wastewater, agricultural, and energy industries.