Northwest & Ethical Investments L.P. Reduces Stock Position in IDEX Co. (NYSE:IEX)

Northwest & Ethical Investments L.P. trimmed its holdings in shares of IDEX Co. (NYSE:IEX) by 11.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 96,148 shares of the industrial products company’s stock after selling 12,759 shares during the quarter. Northwest & Ethical Investments L.P. owned 0.13% of IDEX worth $20,123,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in IEX. Jones Financial Companies Lllp lifted its stake in shares of IDEX by 35.2% in the 4th quarter. Jones Financial Companies Lllp now owns 407 shares of the industrial products company’s stock valued at $85,000 after purchasing an additional 106 shares during the last quarter. Brooklyn Investment Group purchased a new stake in IDEX during the 3rd quarter valued at $86,000. Assetmark Inc. lifted its position in IDEX by 129.1% in the fourth quarter. Assetmark Inc. now owns 417 shares of the industrial products company’s stock worth $87,000 after buying an additional 235 shares during the last quarter. Fred Alger Management LLC bought a new position in IDEX during the third quarter valued at $89,000. Finally, Millburn Ridgefield Corp raised its stake in shares of IDEX by 475.0% in the third quarter. Millburn Ridgefield Corp now owns 460 shares of the industrial products company’s stock valued at $99,000 after acquiring an additional 380 shares during the period. Hedge funds and other institutional investors own 97.96% of the company’s stock.

IDEX Trading Up 0.1 %

IEX opened at $184.74 on Thursday. IDEX Co. has a 52 week low of $177.71 and a 52 week high of $246.36. The company has a market capitalization of $14.00 billion, a P/E ratio of 27.78, a PEG ratio of 1.98 and a beta of 0.99. The stock’s fifty day moving average is $201.21 and its two-hundred day moving average is $210.18. The company has a quick ratio of 1.85, a current ratio of 2.53 and a debt-to-equity ratio of 0.49.

IDEX (NYSE:IEX) last released its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $2.04 earnings per share for the quarter, beating the consensus estimate of $2.03 by $0.01. IDEX had a return on equity of 16.08% and a net margin of 15.45%. Analysts forecast that IDEX Co. will post 8.26 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts recently commented on IEX shares. DA Davidson cut their price target on shares of IDEX from $225.00 to $215.00 and set a “neutral” rating on the stock in a report on Wednesday, February 19th. Royal Bank of Canada cut their target price on IDEX from $256.00 to $245.00 and set an “outperform” rating on the stock in a research note on Thursday, February 6th. Stifel Nicolaus raised their price target on IDEX from $244.00 to $256.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Finally, Citigroup dropped their price objective on IDEX from $269.00 to $267.00 and set a “buy” rating for the company in a report on Monday, January 13th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $241.71.

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.