JPMorgan Chase & Co. lessened its stake in IDEX Co. (NYSE:IEX - Free Report) by 10.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 263,232 shares of the industrial products company's stock after selling 32,342 shares during the period. JPMorgan Chase & Co. owned about 0.35% of IDEX worth $55,092,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. Bleakley Financial Group LLC increased its stake in shares of IDEX by 4.1% in the 4th quarter. Bleakley Financial Group LLC now owns 1,214 shares of the industrial products company's stock worth $254,000 after acquiring an additional 48 shares during the last quarter. Albert D Mason Inc. increased its position in shares of IDEX by 1.3% during the 4th quarter. Albert D Mason Inc. now owns 4,532 shares of the industrial products company's stock worth $948,000 after purchasing an additional 56 shares during the last quarter. Diversified Trust Co boosted its holdings in IDEX by 1.0% during the 4th quarter. Diversified Trust Co now owns 6,210 shares of the industrial products company's stock valued at $1,300,000 after acquiring an additional 59 shares during the period. Blackston Financial Advisory Group LLC boosted its holdings in IDEX by 2.7% during the 4th quarter. Blackston Financial Advisory Group LLC now owns 2,299 shares of the industrial products company's stock valued at $481,000 after acquiring an additional 60 shares during the period. Finally, Signal Advisors Wealth LLC boosted its holdings in IDEX by 3.6% during the 4th quarter. Signal Advisors Wealth LLC now owns 1,822 shares of the industrial products company's stock valued at $381,000 after acquiring an additional 63 shares during the period. Hedge funds and other institutional investors own 97.96% of the company's stock.
IDEX Stock Down 2.9 %
Shares of NYSE IEX traded down $5.01 during midday trading on Thursday, hitting $168.79. 87,923 shares of the company's stock were exchanged, compared to its average volume of 546,835. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.53 and a quick ratio of 1.85. IDEX Co. has a twelve month low of $153.36 and a twelve month high of $240.08. The company has a market cap of $12.75 billion, a PE ratio of 25.38, a P/E/G ratio of 1.98 and a beta of 1.05. The firm's fifty day simple moving average is $187.22 and its 200-day simple moving average is $207.07.
IDEX (NYSE:IEX - Get Free Report) last issued its earnings results on Tuesday, February 4th. The industrial products company reported $2.04 earnings per share for the quarter, topping 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%. Research analysts predict that IDEX Co. will post 8.26 EPS for the current fiscal year.
Analysts Set New Price Targets
A number of brokerages recently commented on IEX. DA Davidson lowered 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 lowered their target price 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 lifted their price objective on 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 decreased their price objective on IDEX from $256.00 to $245.00 and set an "outperform" rating for the company in a research note on Thursday, February 6th. 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, the company has a consensus rating of "Moderate Buy" and an average target price of $241.71.
View Our Latest Research Report on IEX
About IDEX
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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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