Geneva Capital Management LLC Sells 13,390 Shares of IDEX Co. (NYSE:IEX)

Geneva Capital Management LLC lessened its holdings in IDEX Co. (NYSE:IEX - Free Report) by 10.9% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 109,635 shares of the industrial products company's stock after selling 13,390 shares during the period. Geneva Capital Management LLC owned approximately 0.14% of IDEX worth $22,946,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Wellington Management Group LLP grew its stake in IDEX by 108.4% in the 3rd quarter. Wellington Management Group LLP now owns 2,830,929 shares of the industrial products company's stock valued at $607,234,000 after purchasing an additional 1,472,456 shares during the period. Champlain Investment Partners LLC grew its position in IDEX by 28.8% during the third quarter. Champlain Investment Partners LLC now owns 1,223,676 shares of the industrial products company's stock valued at $262,479,000 after buying an additional 273,460 shares during the period. Allianz Asset Management GmbH grew its position in IDEX by 133.2% during the fourth quarter. Allianz Asset Management GmbH now owns 406,637 shares of the industrial products company's stock valued at $85,105,000 after buying an additional 232,255 shares during the period. Raymond James Financial Inc. purchased a new position in IDEX in the fourth quarter valued at about $35,375,000. Finally, DF Dent & Co. Inc. bought a new position in shares of IDEX during the 3rd quarter valued at approximately $31,747,000. 97.96% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on IEX. Stifel Nicolaus lifted their price target on shares of IDEX from $244.00 to $256.00 and gave the stock a "buy" rating in a report on Wednesday, December 11th. Citigroup lowered their target price on IDEX from $269.00 to $267.00 and set a "buy" rating on the stock in a research note on Monday, January 13th. DA Davidson cut their price target 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, Royal Bank of Canada lowered their price objective on IDEX from $256.00 to $245.00 and set an "outperform" rating on the stock in a research note 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. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $241.71.

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IDEX Price Performance

IEX traded down $1.27 during trading on Monday, reaching $186.39. 697,822 shares of the company were exchanged, compared to its average volume of 559,923. IDEX Co. has a 12-month low of $183.24 and a 12-month high of $246.36. The company's 50-day moving average is $205.18 and its two-hundred day moving average is $211.36. 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 company has a market cap of $14.13 billion, a price-to-earnings ratio of 28.03, a P/E/G ratio of 1.98 and a beta of 0.99.

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

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.