Prudential Financial Inc. Sells 6,700 Shares of IDEX Co. (NYSE:IEX)

Prudential Financial Inc. reduced its stake in IDEX Co. (NYSE:IEX - Free Report) by 14.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 40,154 shares of the industrial products company's stock after selling 6,700 shares during the period. Prudential Financial Inc. owned approximately 0.05% of IDEX worth $8,911,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. grew its position in IDEX by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 9,306,008 shares of the industrial products company's stock valued at $1,947,654,000 after purchasing an additional 63,432 shares during the last quarter. State Street Corp grew its holdings in shares of IDEX by 0.5% during the third quarter. State Street Corp now owns 3,017,976 shares of the industrial products company's stock valued at $647,356,000 after buying an additional 15,077 shares during the last quarter. Wellington Management Group LLP increased its position in shares of IDEX by 108.4% during the third quarter. Wellington Management Group LLP now owns 2,830,929 shares of the industrial products company's stock valued at $607,234,000 after acquiring an additional 1,472,456 shares in the last quarter. Geode Capital Management LLC raised its holdings in IDEX by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,891,175 shares of the industrial products company's stock worth $404,339,000 after acquiring an additional 23,388 shares during the last quarter. Finally, Barclays PLC lifted its position in IDEX by 1.2% in the 3rd quarter. Barclays PLC now owns 1,177,645 shares of the industrial products company's stock valued at $252,603,000 after acquiring an additional 14,360 shares in the last quarter. 97.96% of the stock is currently owned by institutional investors.

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Analyst Upgrades and Downgrades

IEX has been the subject of a number of research analyst reports. DA Davidson reduced their target price on IDEX from $225.00 to $215.00 and set a "neutral" rating for the company in a report on Wednesday, February 19th. Citigroup reduced their price objective on IDEX from $269.00 to $267.00 and set a "buy" rating for the company in a report on Monday, January 13th. Stifel Nicolaus upped their target price on shares of IDEX from $244.00 to $256.00 and gave the company a "buy" rating in a research note on Wednesday, December 11th. Finally, Royal Bank of Canada reduced their price target on shares of IDEX from $256.00 to $245.00 and set an "outperform" rating for the company in a research note on Thursday, February 6th. 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, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $241.71.

IDEX Stock Performance

Shares of NYSE IEX traded down $14.67 during midday trading on Thursday, hitting $168.63. 779,100 shares of the company's stock traded hands, compared to its average volume of 530,941. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.85 and a current ratio of 2.53. The stock has a market capitalization of $12.74 billion, a price-to-earnings ratio of 25.36, a price-to-earnings-growth ratio of 1.98 and a beta of 0.99. The firm has a fifty day moving average of $193.89 and a 200 day moving average of $208.77. IDEX Co. has a 1 year low of $168.44 and a 1 year high of $242.09.

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 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, analysts forecast that IDEX Co. will post 8.26 earnings per share for the current year.

IDEX Company 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.