CIBC Private Wealth Group LLC Decreases Stake in IDEX Co. (NYSE:IEX)

CIBC Private Wealth Group LLC reduced its holdings in IDEX Co. (NYSE:IEX - Free Report) by 2.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 181,294 shares of the industrial products company's stock after selling 4,377 shares during the period. CIBC Private Wealth Group LLC owned about 0.24% of IDEX worth $37,852,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in IDEX by 0.7% in 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 buying an additional 63,432 shares in the last quarter. State Street Corp boosted its stake in shares of IDEX by 0.5% in the third quarter. State Street Corp now owns 3,017,976 shares of the industrial products company's stock worth $647,356,000 after acquiring 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 worth $607,234,000 after purchasing an additional 1,472,456 shares in the last quarter. Geode Capital Management LLC raised its stake 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 valued at $404,339,000 after purchasing an additional 23,388 shares during the last quarter. Finally, Pictet Asset Management Holding SA lifted its holdings in IDEX by 6.3% in the 4th quarter. Pictet Asset Management Holding SA now owns 1,620,252 shares of the industrial products company's stock valued at $339,103,000 after purchasing an additional 95,840 shares in the last quarter. Institutional investors and hedge funds own 97.96% of the company's stock.

Remove Ads

IDEX Trading Down 3.8 %

IEX traded down $6.35 on Friday, hitting $162.33. The company had a trading volume of 1,053,470 shares, compared to its average volume of 533,805. IDEX Co. has a 1 year low of $160.13 and a 1 year high of $241.97. The firm has a market cap of $12.26 billion, a P/E ratio of 24.41, a PEG ratio of 1.98 and a beta of 1.05. The company's fifty day moving average price is $192.73 and its 200 day moving average price is $208.49. 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 announced its 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 return on equity of 16.08% and a net margin of 15.45%. As a group, equities analysts expect that IDEX Co. will post 8.26 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on IEX shares. Citigroup decreased their price target on shares of 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 lowered their target price on IDEX from $225.00 to $215.00 and set a "neutral" rating on the stock in a report on Wednesday, February 19th. Royal Bank of Canada cut their price target on IDEX from $256.00 to $245.00 and set an "outperform" rating for the company in a report on Thursday, February 6th. Finally, Stifel Nicolaus upped their target price on IDEX from $244.00 to $256.00 and gave the company a "buy" rating in a report on Wednesday, December 11th. Three equities research 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, IDEX has an average rating of "Moderate Buy" and an average price target of $241.71.

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.