Wells Fargo & Company MN Sells 30,300 Shares of IDEX Co. (NYSE:IEX)

Wells Fargo & Company MN reduced its holdings in IDEX Co. (NYSE:IEX - Free Report) by 62.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 18,116 shares of the industrial products company's stock after selling 30,300 shares during the period. Wells Fargo & Company MN's holdings in IDEX were worth $3,791,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Asset Management One Co. Ltd. raised its position in shares of IDEX by 4.2% during the fourth quarter. Asset Management One Co. Ltd. now owns 30,250 shares of the industrial products company's stock worth $6,386,000 after purchasing an additional 1,209 shares during the period. Assetmark Inc. boosted its holdings 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 buying an additional 235 shares during the last quarter. Covea Finance increased its stake 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 purchasing an additional 6,000 shares during the last quarter. Barclays PLC raised its stake 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 position in IDEX by 27.0% during the fourth quarter. Park Avenue Securities LLC now owns 2,330 shares of the industrial products company's stock worth $488,000 after purchasing an additional 495 shares during the period. Institutional investors and hedge funds own 97.96% of the company's stock.

Wall Street Analyst Weigh In

IEX has been the topic of several research analyst reports. Mizuho set a $175.00 price target on shares of IDEX in a report on Tuesday. Stifel Nicolaus cut their price target on shares of IDEX from $256.00 to $192.00 and set a "buy" rating for the company in a report on Monday, April 14th. Citigroup lowered their target price on IDEX from $264.00 to $201.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Royal Bank of Canada dropped their price target on IDEX from $256.00 to $245.00 and set an "outperform" rating for the company in a research note on Thursday, February 6th. Finally, 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. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $217.13.

IDEX Trading Down 0.7 %

NYSE:IEX traded down $1.26 on Friday, reaching $172.53. 281,549 shares of the stock traded hands, compared to its average volume of 563,582. The company has a current ratio of 2.53, a quick ratio of 1.85 and a debt-to-equity ratio of 0.49. IDEX Co. has a 1-year low of $153.36 and a 1-year high of $238.22. The company's 50 day moving average is $179.90 and its 200-day moving average is $203.67. The firm has a market capitalization of $13.03 billion, a price-to-earnings ratio of 25.89, a price-to-earnings-growth ratio of 1.98 and a beta of 1.05.

IDEX (NYSE:IEX - Get Free Report) last announced 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%. Equities research analysts anticipate that IDEX Co. will post 8.26 EPS for the current fiscal year.

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.