Intech Investment Management LLC Reduces Stock Position in IDEX Co. (NYSE:IEX)

Intech Investment Management LLC trimmed its holdings in shares of IDEX Co. (NYSE:IEX) by 69.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,130 shares of the industrial products company’s stock after selling 9,583 shares during the quarter. Intech Investment Management LLC’s holdings in IDEX were worth $864,000 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. Bleakley Financial Group LLC lifted its stake in shares of IDEX by 4.1% in the 4th quarter. Bleakley Financial Group LLC now owns 1,214 shares of the industrial products company’s stock valued at $254,000 after purchasing an additional 48 shares during the last quarter. Albert D Mason Inc. lifted its position in IDEX by 1.3% in the fourth quarter. Albert D Mason Inc. now owns 4,532 shares of the industrial products company’s stock worth $948,000 after buying an additional 56 shares during the last quarter. Diversified Trust Co boosted its stake in IDEX by 1.0% during the fourth quarter. Diversified Trust Co now owns 6,210 shares of the industrial products company’s stock worth $1,300,000 after buying an additional 59 shares during the period. Blackston Financial Advisory Group LLC raised its stake in shares of IDEX by 2.7% in the fourth quarter. Blackston Financial Advisory Group LLC now owns 2,299 shares of the industrial products company’s stock valued at $481,000 after acquiring an additional 60 shares during the period. Finally, Signal Advisors Wealth LLC lifted its holdings in shares of IDEX by 3.6% in the 4th quarter. Signal Advisors Wealth LLC now owns 1,822 shares of the industrial products company’s stock worth $381,000 after acquiring an additional 63 shares during the last quarter. Hedge funds and other institutional investors own 97.96% of the company’s stock.

Wall Street Analysts Forecast Growth

IEX has been the topic of several analyst reports. Citigroup cut their price target on shares of IDEX from $269.00 to $267.00 and set a “buy” rating on the stock in a report on Monday, January 13th. DA Davidson reduced their price target on IDEX from $225.00 to $215.00 and set a “neutral” rating on the stock in a report on Wednesday, February 19th. 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, Royal Bank of Canada cut their price objective on IDEX from $256.00 to $245.00 and set an “outperform” rating on the stock in a research report on Thursday, February 6th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, IDEX currently has an average rating of “Moderate Buy” and an average target price of $241.71.

IDEX Trading Down 0.9 %

Shares of NYSE IEX opened at $182.02 on Monday. IDEX Co. has a twelve month low of $177.71 and a twelve month high of $245.70. The company has a quick ratio of 1.85, a current ratio of 2.53 and a debt-to-equity ratio of 0.49. The business has a fifty day simple moving average of $200.23 and a two-hundred day simple moving average of $209.94. The firm has a market cap of $13.79 billion, a PE ratio of 27.37, a price-to-earnings-growth ratio of 1.98 and a beta of 0.99.

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, topping analysts’ consensus estimates of $2.03 by $0.01. IDEX had a net margin of 15.45% and a return on equity of 16.08%. Analysts expect that IDEX Co. will post 8.26 earnings per share for the current fiscal year.

IDEX Company 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.