Korea Investment CORP Sells 15,917 Shares of IDEX Co. (NYSE:IEX)

Korea Investment CORP trimmed its position in IDEX Co. (NYSE:IEX - Free Report) by 19.4% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 66,254 shares of the industrial products company's stock after selling 15,917 shares during the period. Korea Investment CORP owned about 0.09% of IDEX worth $13,866,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bleakley Financial Group LLC raised its stake in shares of IDEX by 4.1% during the 4th quarter. Bleakley Financial Group LLC now owns 1,214 shares of the industrial products company's stock worth $254,000 after purchasing an additional 48 shares during the period. Albert D Mason Inc. raised its position in IDEX by 1.3% in the fourth quarter. Albert D Mason Inc. now owns 4,532 shares of the industrial products company's stock worth $948,000 after acquiring an additional 56 shares during the period. Diversified Trust Co boosted its stake in IDEX by 1.0% in the fourth 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 last quarter. Blackston Financial Advisory Group LLC grew its position in shares of 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 increased its stake in shares of IDEX by 3.6% during the 4th quarter. Signal Advisors Wealth LLC now owns 1,822 shares of the industrial products company's stock worth $381,000 after purchasing an additional 63 shares during the last quarter. Hedge funds and other institutional investors own 97.96% of the company's stock.

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Analyst Ratings Changes

A number of research firms have issued reports on IEX. DA Davidson decreased their target price on IDEX from $225.00 to $215.00 and set a "neutral" rating for the company in a research report on Wednesday, February 19th. Citigroup decreased 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. Royal Bank of Canada dropped their price objective on shares of IDEX from $256.00 to $245.00 and set an "outperform" rating on the stock in a report on Thursday, February 6th. Finally, Stifel Nicolaus boosted their price target on shares of IDEX from $244.00 to $256.00 and gave the company a "buy" rating in a research 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, the company presently has an average rating of "Moderate Buy" and a consensus target price of $241.71.

IDEX Price Performance

Shares of IEX traded down $6.35 during midday trading on Friday, hitting $162.33. 1,053,470 shares of the company traded hands, compared to its average volume of 533,805. IDEX Co. has a one year low of $160.12 and a one 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 has a debt-to-equity ratio of 0.49, a current ratio of 2.53 and a quick ratio of 1.85. The stock has a 50-day moving average of $192.73 and a 200-day moving average of $208.49.

IDEX (NYSE:IEX - Get Free Report) last posted its earnings results on Tuesday, February 4th. The industrial products company reported $2.04 earnings per share for the quarter, topping 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%. As a group, sell-side analysts predict that IDEX Co. will post 8.26 EPS for the current fiscal year.

IDEX 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.