PGGM Investments Cuts Stake in IDEX Co. (NYSE:IEX)

PGGM Investments decreased its stake in IDEX Co. (NYSE:IEX - Free Report) by 15.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 35,792 shares of the industrial products company's stock after selling 6,567 shares during the quarter. PGGM Investments' holdings in IDEX were worth $7,491,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of IEX. Principal Financial Group Inc. grew its position in shares of IDEX by 3.0% in the third quarter. Principal Financial Group Inc. now owns 95,836 shares of the industrial products company's stock valued at $20,557,000 after purchasing an additional 2,820 shares during the period. Assetmark Inc. acquired a new position in IDEX during the third quarter worth about $39,000. Apollon Wealth Management LLC boosted its position in IDEX by 7.2% during the third quarter. Apollon Wealth Management LLC now owns 5,979 shares of the industrial products company's stock worth $1,283,000 after acquiring an additional 399 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its position in IDEX by 2.7% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 168,023 shares of the industrial products company's stock worth $36,041,000 after acquiring an additional 4,465 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its position in IDEX by 1.2% during the third quarter. Victory Capital Management Inc. now owns 58,887 shares of the industrial products company's stock worth $12,631,000 after acquiring an additional 690 shares during the last quarter. Institutional investors and hedge funds own 97.96% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on IEX shares. Royal Bank of Canada lowered their price target on shares of IDEX from $256.00 to $245.00 and set an "outperform" rating on the stock in a research report on Thursday, February 6th. DA Davidson lowered their price target on shares of IDEX from $225.00 to $215.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 19th. Citigroup lowered their price target on shares of IDEX from $269.00 to $267.00 and set a "buy" rating on the stock in a research report on Monday, January 13th. Finally, Stifel Nicolaus lifted their target price on shares of IDEX from $244.00 to $256.00 and gave the stock a "buy" rating in a research note on Wednesday, December 11th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $241.71.

IDEX Trading Down 0.0 %

IEX stock traded down $0.01 during trading on Tuesday, reaching $184.58. 511,248 shares of the stock were exchanged, compared to its average volume of 560,187. The business has a 50 day moving average price of $202.16 and a 200-day moving average price of $210.51. The firm has a market capitalization of $13.99 billion, a price-to-earnings ratio of 27.76, a P/E/G ratio of 1.98 and a beta of 0.99. IDEX Co. has a 1 year low of $177.71 and a 1 year high of $246.36. The company has a current ratio of 2.53, a quick ratio of 1.85 and a debt-to-equity ratio of 0.49.

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 (EPS) for the quarter, beating 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%. On average, research analysts predict that IDEX Co. will post 8.26 earnings per share for the current 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.