Allworth Financial LP Reduces Stock Position in IDEX Co. (NYSE:IEX)

Allworth Financial LP lowered its stake in IDEX Co. (NYSE:IEX) by 23.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 182 shares of the industrial products company’s stock after selling 55 shares during the quarter. Allworth Financial LP’s holdings in IDEX were worth $40,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Studio Investment Management LLC raised its position in shares of IDEX by 4.9% during the 3rd quarter. Studio Investment Management LLC now owns 955 shares of the industrial products company’s stock valued at $205,000 after purchasing an additional 45 shares during the period. Bleakley Financial Group LLC raised its position in shares of IDEX by 4.1% during the 4th quarter. Bleakley Financial Group LLC now owns 1,214 shares of the industrial products company’s stock valued at $254,000 after purchasing an additional 48 shares during the period. Albert D Mason Inc. raised its position in shares of IDEX by 1.3% during the 4th quarter. Albert D Mason Inc. now owns 4,532 shares of the industrial products company’s stock valued at $948,000 after purchasing an additional 56 shares during the period. Catalyst Capital Advisors LLC raised its position in shares of IDEX by 73.8% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 139 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 59 shares during the period. Finally, Diversified Trust Co raised its position in shares of IDEX by 1.0% during the 4th quarter. Diversified Trust Co now owns 6,210 shares of the industrial products company’s stock valued at $1,300,000 after purchasing an additional 59 shares during the period. Hedge funds and other institutional investors own 97.96% of the company’s stock.

IDEX Stock Performance

NYSE:IEX opened at $196.33 on Wednesday. The company has a current ratio of 2.53, a quick ratio of 1.85 and a debt-to-equity ratio of 0.49. The company’s 50-day moving average price is $208.63 and its 200-day moving average price is $211.70. IDEX Co. has a twelve month low of $189.51 and a twelve month high of $246.36. The company has a market cap of $14.88 billion, a P/E ratio of 29.52, a P/E/G ratio of 1.98 and a beta of 0.97.

IDEX (NYSE:IEX) last announced its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $2.04 earnings per share for the quarter, beating 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%. On average, sell-side analysts forecast that IDEX Co. will post 8.26 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms recently weighed in on IEX. Robert W. Baird cut their target price on shares of IDEX from $245.00 to $241.00 and set an “outperform” rating for the company in a research note on Thursday, October 31st. 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. Royal Bank of Canada cut their target price on shares of IDEX from $256.00 to $245.00 and set an “outperform” rating for the company in a research note on Thursday, February 6th. Stifel Nicolaus raised their target price on shares of IDEX from $244.00 to $256.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Finally, DA Davidson cut their target price on shares of IDEX from $225.00 to $215.00 and set a “neutral” rating for the company in a research note on Wednesday, February 19th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $241.71.

About IDEX

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.