Magnetar Financial LLC decreased its stake in shares of IDEX Co. (NYSE:IEX - Free Report) by 78.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,241 shares of the industrial products company's stock after selling 18,959 shares during the quarter. Magnetar Financial LLC's holdings in IDEX were worth $1,097,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Jones Financial Companies Lllp increased its holdings in IDEX by 35.2% during the fourth quarter. Jones Financial Companies Lllp now owns 407 shares of the industrial products company's stock worth $85,000 after buying an additional 106 shares during the last quarter. Brooklyn Investment Group acquired a new position in shares of IDEX during the 3rd quarter worth about $86,000. Assetmark Inc. increased its position in IDEX by 129.1% during the fourth quarter. Assetmark Inc. now owns 417 shares of the industrial products company's stock worth $87,000 after buying an additional 235 shares during the last quarter. Fred Alger Management LLC acquired a new position in shares of IDEX during the 3rd quarter worth approximately $89,000. Finally, Millburn Ridgefield Corp raised its stake in IDEX by 475.0% in the 3rd quarter. Millburn Ridgefield Corp now owns 460 shares of the industrial products company's stock valued at $99,000 after acquiring an additional 380 shares during the period. Institutional investors own 97.96% of the company's stock.
IDEX Price Performance
IEX stock traded up $0.52 during midday trading on Wednesday, reaching $184.89. The company had a trading volume of 491,955 shares, compared to its average volume of 496,422. The company has a market capitalization of $14.01 billion, a price-to-earnings ratio of 27.80, a price-to-earnings-growth ratio of 1.98 and a beta of 0.99. 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 1-year low of $177.71 and a 1-year high of $245.70. The stock has a 50 day moving average price of $199.12 and a 200-day moving average price of $209.78.
IDEX (NYSE:IEX - Get Free Report) last issued its earnings results on Tuesday, February 4th. The industrial products company reported $2.04 EPS for the quarter, beating the consensus estimate of $2.03 by $0.01. IDEX had a net margin of 15.45% and a return on equity of 16.08%. Equities research analysts expect that IDEX Co. will post 8.26 earnings per share for the current year.
Analyst Upgrades and Downgrades
IEX has been the subject of a number of research reports. Citigroup cut their target price on shares of IDEX from $269.00 to $267.00 and set a "buy" rating for the company in a research note on Monday, January 13th. DA Davidson reduced their price objective on IDEX from $225.00 to $215.00 and set a "neutral" rating for the company in a report on Wednesday, February 19th. Royal Bank of Canada decreased their target price on IDEX from $256.00 to $245.00 and set an "outperform" rating on the stock in a research report on Thursday, February 6th. Finally, Stifel Nicolaus lifted their price target on IDEX from $244.00 to $256.00 and gave the stock 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 given a buy rating to the company's stock. Based on data from MarketBeat.com, IDEX currently has an average rating of "Moderate Buy" and an average target price of $241.71.
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About IDEX
(
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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