Invesco Ltd. lowered its holdings in shares of IDEX Co. (NYSE:IEX - Free Report) by 21.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,338,830 shares of the industrial products company's stock after selling 372,580 shares during the period. Invesco Ltd. owned about 1.77% of IDEX worth $280,204,000 as of its most recent filing with the SEC.
A number of other large investors also recently added to or reduced their stakes in the business. Jones Financial Companies Lllp grew its stake in shares of IDEX by 35.2% during the fourth quarter. Jones Financial Companies Lllp now owns 407 shares of the industrial products company's stock valued at $85,000 after buying an additional 106 shares during the last quarter. Assetmark Inc. grew its position in IDEX by 129.1% during the 4th quarter. Assetmark Inc. now owns 417 shares of the industrial products company's stock worth $87,000 after acquiring an additional 235 shares during the last quarter. BankPlus Trust Department purchased a new position in IDEX in the 4th quarter worth approximately $123,000. EverSource Wealth Advisors LLC lifted its position in IDEX by 49.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 590 shares of the industrial products company's stock valued at $123,000 after purchasing an additional 196 shares during the last quarter. Finally, GAMMA Investing LLC boosted its stake in shares of IDEX by 416.0% during the fourth quarter. GAMMA Investing LLC now owns 614 shares of the industrial products company's stock valued at $129,000 after purchasing an additional 495 shares during the period. Hedge funds and other institutional investors own 97.96% of the company's stock.
Wall Street Analysts Forecast Growth
Several equities research analysts have weighed in on the stock. DA Davidson dropped their price target on shares of IDEX from $225.00 to $215.00 and set a "neutral" rating for the company in a research report on Wednesday, February 19th. Stifel Nicolaus cut their target price on IDEX from $256.00 to $192.00 and set a "buy" rating on the stock in a research note on Monday. Royal Bank of Canada lowered their price target on IDEX from $256.00 to $245.00 and set an "outperform" rating for the company in a research report on Thursday, February 6th. Finally, Citigroup cut their price objective on IDEX from $264.00 to $201.00 and set a "buy" rating on the stock in a research report on Monday. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, IDEX presently has a consensus rating of "Moderate Buy" and a consensus target price of $223.14.
Read Our Latest Analysis on IDEX
IDEX Stock Down 0.4 %
IDEX stock traded down $0.67 during trading hours on Wednesday, hitting $166.68. 64,322 shares of the stock traded hands, compared to its average volume of 608,194. IDEX Co. has a one year low of $153.36 and a one year high of $238.22. The firm's 50-day moving average price is $183.98 and its two-hundred day moving average price is $205.84. The company has a current ratio of 2.53, a quick ratio of 1.85 and a debt-to-equity ratio of 0.49. The company has a market cap of $12.59 billion, a PE ratio of 25.06, a PEG ratio of 1.98 and a beta of 1.05.
IDEX (NYSE:IEX - Get Free Report) last released its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $2.04 earnings per share for the quarter, beating the consensus estimate of $2.03 by $0.01. IDEX had a return on equity of 16.08% and a net margin of 15.45%. On average, research analysts forecast that IDEX Co. will post 8.26 EPS for the current year.
About IDEX
(
Free Report)
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.
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