Thrivent Financial for Lutherans lessened its holdings in shares of IDEX Co. (NYSE:IEX – Get Rating) by 15.7% during the 4th quarter, HoldingsChannel reports. The firm owned 156,731 shares of the industrial products company’s stock after selling 29,105 shares during the period. Thrivent Financial for Lutherans’ holdings in IDEX were worth $35,786,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Parkside Financial Bank & Trust boosted its position in shares of IDEX by 120.3% during the 1st quarter. Parkside Financial Bank & Trust now owns 141 shares of the industrial products company’s stock valued at $27,000 after acquiring an additional 77 shares during the last quarter. General Partner Inc. acquired a new position in shares of IDEX during the 4th quarter valued at about $46,000. Harvest Fund Management Co. Ltd acquired a new position in shares of IDEX during the 4th quarter valued at about $66,000. Covington Capital Management lifted its position in IDEX by 120.7% in the third quarter. Covington Capital Management now owns 331 shares of the industrial products company’s stock valued at $66,000 after buying an additional 181 shares during the last quarter. Finally, IFP Advisors Inc lifted its position in IDEX by 1,277.1% in the third quarter. IFP Advisors Inc now owns 482 shares of the industrial products company’s stock valued at $70,000 after buying an additional 447 shares during the last quarter. Institutional investors and hedge funds own 96.58% of the company’s stock.
Analysts Set New Price Targets
A number of brokerages have issued reports on IEX. Mizuho cut their price target on shares of IDEX from $227.00 to $200.00 in a research note on Friday, April 28th. Robert W. Baird cut their target price on shares of IDEX from $255.00 to $230.00 in a research note on Friday, April 28th. Stifel Nicolaus upped their target price on shares of IDEX from $242.00 to $246.00 and gave the stock a “hold” rating in a research note on Monday, April 17th. StockNews.com upgraded shares of IDEX from a “hold” rating to a “buy” rating in a research note on Tuesday, April 25th. Finally, Citigroup lowered their price target on IDEX from $273.00 to $268.00 and set a “buy” rating for the company in a report on Thursday, February 2nd. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, IDEX has a consensus rating of “Moderate Buy” and an average target price of $236.17.
Insiders Place Their Bets
In other IDEX news, CFO William K. Grogan sold 3,181 shares of the stock in a transaction on Thursday, February 9th. The stock was sold at an average price of $226.36, for a total value of $720,051.16. Following the completion of the transaction, the chief financial officer now owns 13,864 shares in the company, valued at $3,138,255.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.50% of the stock is currently owned by company insiders.
IDEX Price Performance
Shares of NYSE IEX opened at $210.64 on Tuesday. The company has a debt-to-equity ratio of 0.46, a current ratio of 3.10 and a quick ratio of 2.09. The stock has a fifty day moving average price of $219.00 and a 200 day moving average price of $225.84. IDEX Co. has a 1-year low of $172.18 and a 1-year high of $246.23. The company has a market cap of $15.92 billion, a PE ratio of 27.29, a P/E/G ratio of 2.07 and a beta of 1.00.
IDEX (NYSE:IEX – Get Rating) last released its quarterly earnings data on Wednesday, April 26th. The industrial products company reported $2.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.02 by $0.07. The firm had revenue of $845.40 million during the quarter, compared to analysts’ expectations of $818.87 million. IDEX had a return on equity of 21.14% and a net margin of 17.91%. IDEX’s revenue was up 12.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.96 earnings per share. Sell-side analysts forecast that IDEX Co. will post 8.5 EPS for the current year.
About IDEX
IDEX Corp. engages in the provision of engineering solutions. It operates through the following segments: Fluid and Metering Technologies, Health and Science Technologies, and Fire and Safety or Diversified Products. The Fluid and Metering Technologies segment is involved in the design, production, and distribution of displacement pumps, valves, flow meters, injectors, and fluid-handling pump modules and systems.
Featured Stories
Want to see what other hedge funds are holding IEX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for IDEX Co. (NYSE:IEX – Get Rating).
Receive News & Ratings for IDEX Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for IDEX and related companies with MarketBeat.com’s FREE daily email newsletter.
ABMN Staff
Source link
