IDEX Co. (NYSE:IEX) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue decreased its stake in IDEX Co. (NYSE:IEX - Free Report) by 19.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,633 shares of the industrial products company's stock after selling 2,034 shares during the period. State of Alaska Department of Revenue's holdings in IDEX were worth $1,806,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in IEX. Bleakley Financial Group LLC raised its position in IDEX by 4.1% during the fourth 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. Choreo LLC raised its position in IDEX by 30.5% during the fourth quarter. Choreo LLC now owns 4,221 shares of the industrial products company's stock worth $883,000 after acquiring an additional 987 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in IDEX by 27.1% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,025 shares of the industrial products company's stock worth $2,109,000 after acquiring an additional 2,138 shares during the last quarter. Stratos Wealth Partners LTD. raised its position in IDEX by 1.9% during the fourth quarter. Stratos Wealth Partners LTD. now owns 6,046 shares of the industrial products company's stock worth $1,265,000 after acquiring an additional 110 shares during the last quarter. Finally, Guidance Capital Inc. acquired a new position in IDEX during the fourth quarter worth about $890,000. Institutional investors and hedge funds own 97.96% of the company's stock.

IDEX Trading Up 1.1 %

IDEX stock traded up $2.18 during trading on Friday, reaching $195.21. The company had a trading volume of 644,030 shares, compared to its average volume of 482,422. IDEX Co. has a 12-month low of $189.51 and a 12-month high of $246.36. The stock's 50 day moving average price is $212.78 and its two-hundred day moving average price is $211.56. The firm has a market capitalization of $14.78 billion, a price-to-earnings ratio of 29.35, a PEG ratio of 1.98 and a beta of 0.97. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.11 and a current ratio of 2.53.

IDEX (NYSE:IEX - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $2.04 earnings per share (EPS) for the quarter, topping 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%. As a group, equities analysts expect that IDEX Co. will post 8.37 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on IEX. Stifel Nicolaus boosted their price objective 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. Citigroup cut their price objective on shares of IDEX from $269.00 to $267.00 and set a "buy" rating for the company in a research report on Monday, January 13th. Robert W. Baird cut their price objective on shares of IDEX from $245.00 to $241.00 and set an "outperform" rating for the company in a research report on Thursday, October 31st. Finally, Royal Bank of Canada cut their price objective 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. Three analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $241.00.

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.