Allspring Global Investments Holdings LLC Sells 40,147 Shares of IDEX Co. (NYSE:IEX)

Allspring Global Investments Holdings LLC cut its holdings in shares of IDEX Co. (NYSE:IEX - Free Report) by 63.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,353 shares of the industrial products company's stock after selling 40,147 shares during the period. Allspring Global Investments Holdings LLC's holdings in IDEX were worth $4,812,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Blue Trust Inc. raised its stake in IDEX by 41.9% during the 3rd quarter. Blue Trust Inc. now owns 481 shares of the industrial products company's stock valued at $97,000 after purchasing an additional 142 shares during the period. Assenagon Asset Management S.A. raised its position in shares of IDEX by 27.2% in the 3rd quarter. Assenagon Asset Management S.A. now owns 67,650 shares of the industrial products company's stock worth $14,511,000 after acquiring an additional 14,457 shares in the last quarter. Values First Advisors Inc. acquired a new position in IDEX during the 3rd quarter valued at about $98,000. Blackston Financial Advisory Group LLC increased its holdings in shares of IDEX by 32.8% in the third quarter. Blackston Financial Advisory Group LLC now owns 2,239 shares of the industrial products company's stock valued at $480,000 after purchasing an additional 553 shares during the period. Finally, Lake Street Advisors Group LLC acquired a new position in shares of IDEX in the third quarter valued at about $248,000. 97.96% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Citigroup reduced their price objective on shares of IDEX from $269.00 to $267.00 and set a "buy" rating for the company in a research report on Monday, January 13th. Robert W. Baird cut their price objective on shares of IDEX from $245.00 to $241.00 and set an "outperform" rating on the stock in a report on Thursday, October 31st. Royal Bank of Canada cut their price objective on shares of IDEX from $256.00 to $245.00 and set an "outperform" rating on the stock in a report on Thursday, February 6th. Stifel Nicolaus lifted their target price on shares of IDEX from $244.00 to $256.00 and gave the company a "buy" rating in a report on Wednesday, December 11th. Finally, DA Davidson cut their target price on shares of IDEX from $225.00 to $215.00 and set a "neutral" rating for the company in a research note on Wednesday. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $241.71.

IDEX Price Performance

IEX traded down $5.32 during trading on Friday, hitting $190.75. The company's stock had a trading volume of 112,256 shares, compared to its average volume of 525,491. The stock has a market capitalization of $14.44 billion, a price-to-earnings ratio of 28.68, a price-to-earnings-growth ratio of 2.00 and a beta of 0.97. IDEX Co. has a 12 month low of $189.51 and a 12 month high of $246.36. 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 firm's 50 day moving average price is $210.29 and its two-hundred day moving average price is $211.39.

IDEX (NYSE:IEX - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $2.04 earnings per share for the quarter, beating analysts' consensus estimates of $2.03 by $0.01. IDEX had a return on equity of 16.08% and a net margin of 15.45%. Sell-side analysts forecast that IDEX Co. will post 8.26 earnings per share for the current fiscal year.

About IDEX

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.