California Public Employees Retirement System Has $40.71 Million Position in IDEX Co. (NYSE:IEX)

California Public Employees Retirement System cut its stake in IDEX Co. (NYSE:IEX) by 13.7% in the 4th quarter, Holdings Channel.com reports. The fund owned 194,492 shares of the industrial products company’s stock after selling 30,917 shares during the quarter. California Public Employees Retirement System’s holdings in IDEX were worth $40,705,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of IEX. Jones Financial Companies Lllp raised its stake in IDEX by 35.2% in the fourth 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 in the last quarter. Assetmark Inc. increased its holdings in IDEX by 129.1% in the 4th quarter. Assetmark Inc. now owns 417 shares of the industrial products company’s stock valued at $87,000 after buying an additional 235 shares during the period. Millburn Ridgefield Corp raised its position in shares of IDEX by 475.0% in the 3rd quarter. Millburn Ridgefield Corp now owns 460 shares of the industrial products company’s stock valued at $99,000 after buying an additional 380 shares in the last quarter. BankPlus Trust Department bought a new stake in shares of IDEX during the 4th quarter worth approximately $123,000. Finally, EverSource Wealth Advisors LLC boosted its position in shares of IDEX by 49.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 590 shares of the industrial products company’s stock worth $123,000 after acquiring an additional 196 shares in the last quarter. 97.96% of the stock is currently owned by institutional investors.

IDEX Stock Up 1.2 %

NYSE:IEX opened at $183.39 on Thursday. IDEX Co. has a one year low of $176.39 and a one year high of $242.09. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.53 and a quick ratio of 1.85. The company has a market cap of $13.85 billion, a PE ratio of 27.58, a P/E/G ratio of 1.98 and a beta of 0.99. The firm’s 50 day simple moving average is $194.96 and its 200 day simple moving average is $209.05.

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

Wall Street Analyst Weigh In

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