Legal & General Group Plc lessened its stake in IDEX Co. (NYSE:IEX - Free Report) by 20.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 487,265 shares of the industrial products company's stock after selling 126,744 shares during the period. Legal & General Group Plc owned 0.64% of IDEX worth $101,980,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. Asset Management One Co. Ltd. boosted its holdings in IDEX by 4.2% in the fourth quarter. Asset Management One Co. Ltd. now owns 30,250 shares of the industrial products company's stock valued at $6,386,000 after acquiring an additional 1,209 shares during the last quarter. Assetmark Inc. boosted its stake in shares of IDEX by 129.1% in the 4th quarter. Assetmark Inc. now owns 417 shares of the industrial products company's stock valued at $87,000 after purchasing an additional 235 shares during the last quarter. Covea Finance grew its position in shares of IDEX by 70.6% during the 4th quarter. Covea Finance now owns 14,500 shares of the industrial products company's stock worth $3,035,000 after buying an additional 6,000 shares during the period. Barclays PLC lifted its holdings in IDEX by 1.2% in the third quarter. Barclays PLC now owns 1,177,645 shares of the industrial products company's stock valued at $252,603,000 after buying an additional 14,360 shares during the period. Finally, Park Avenue Securities LLC boosted its stake in IDEX by 27.0% in the fourth quarter. Park Avenue Securities LLC now owns 2,330 shares of the industrial products company's stock valued at $488,000 after acquiring an additional 495 shares during the last quarter. Institutional investors and hedge funds own 97.96% of the company's stock.
Wall Street Analysts Forecast Growth
Several analysts have commented on the stock. Royal Bank of Canada dropped their target price on shares of IDEX from $256.00 to $245.00 and set an "outperform" rating for the company in a research report on Thursday, February 6th. DA Davidson dropped their price objective on IDEX from $225.00 to $215.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 19th. Stifel Nicolaus decreased their target price on IDEX from $256.00 to $192.00 and set a "buy" rating for the company in a research note on Monday. Finally, Citigroup decreased their price objective on IDEX from $264.00 to $201.00 and set a "buy" rating for the company in a research report on Monday. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $223.14.
Check Out Our Latest Stock Analysis on IEX
IDEX Stock Down 0.4 %
Shares of IEX traded down $0.67 during mid-day trading on Wednesday, hitting $166.68. 64,322 shares of the company's stock were exchanged, compared to its average volume of 608,194. The company has a market cap of $12.59 billion, a PE ratio of 25.06, a P/E/G ratio of 1.98 and a beta of 1.05. The company has a 50-day simple moving average of $183.98 and a 200 day simple moving average of $205.84. 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 52 week low of $153.36 and a 52 week high of $238.22.
IDEX (NYSE:IEX - Get Free Report) last posted its quarterly 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%. On average, research analysts forecast that IDEX Co. will post 8.26 earnings per share for the current fiscal year.
IDEX Profile
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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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