Gabelli Funds LLC Sells 10,100 Shares of IDEX Co. (NYSE:IEX)

Gabelli Funds LLC trimmed its stake in shares of IDEX Co. (NYSE:IEX - Free Report) by 4.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 201,300 shares of the industrial products company's stock after selling 10,100 shares during the quarter. Gabelli Funds LLC owned approximately 0.27% of IDEX worth $42,130,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in IEX. Guggenheim Capital LLC lifted its position in shares of IDEX by 16.3% in the 4th quarter. Guggenheim Capital LLC now owns 1,256 shares of the industrial products company's stock worth $263,000 after purchasing an additional 176 shares during the period. Rossby Financial LCC acquired a new stake in IDEX during the 4th quarter worth about $213,000. Aware Super Pty Ltd as trustee of Aware Super bought a new position in shares of IDEX in the 4th quarter worth about $360,000. Canada Post Corp Registered Pension Plan acquired a new position in shares of IDEX in the 4th quarter valued at about $105,000. Finally, Mariner LLC boosted its position in shares of IDEX by 7.2% during the 4th quarter. Mariner LLC now owns 9,127 shares of the industrial products company's stock valued at $1,910,000 after purchasing an additional 612 shares in the last quarter. 97.96% of the stock is owned by institutional investors and hedge funds.

IDEX Stock Down 0.2 %

Shares of IDEX stock traded down $0.31 on Friday, hitting $163.77. The company had a trading volume of 863,892 shares, compared to its average volume of 558,964. The stock has a 50 day moving average of $182.08 and a 200-day moving average of $204.82. IDEX Co. has a 1 year low of $153.36 and a 1 year high of $238.22. The stock has a market capitalization of $12.37 billion, a price-to-earnings ratio of 24.63, a P/E/G ratio of 1.98 and a beta of 1.05. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.85 and a current ratio of 2.53.

IDEX (NYSE:IEX - Get Free Report) last announced its earnings results on Tuesday, February 4th. The industrial products company reported $2.04 EPS for the quarter, beating 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%. As a group, sell-side analysts forecast that IDEX Co. will post 8.26 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on IEX shares. Royal Bank of Canada dropped their price target 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 reduced their price target on shares of IDEX from $256.00 to $192.00 and set a "buy" rating for the company in a report on Monday, April 14th. Citigroup dropped their price objective on shares of IDEX from $264.00 to $201.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Finally, DA Davidson decreased their target price on IDEX from $225.00 to $215.00 and set a "neutral" rating for the company in a research report on Wednesday, February 19th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, IDEX currently has a consensus rating of "Moderate Buy" and an average target price of $223.14.

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.