Chevy Chase Trust Holdings LLC Cuts Holdings in IDEX Co. (NYSE:IEX)

Chevy Chase Trust Holdings LLC decreased its holdings in IDEX Co. (NYSE:IEX) by 2.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 39,737 shares of the industrial products company’s stock after selling 851 shares during the period. Chevy Chase Trust Holdings LLC owned approximately 0.05% of IDEX worth $8,317,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. State Street Corp boosted its position in IDEX by 0.5% during the 3rd quarter. State Street Corp now owns 3,017,976 shares of the industrial products company’s stock valued at $647,356,000 after buying an additional 15,077 shares during the period. Wellington Management Group LLP increased its stake in shares of IDEX by 108.4% in the 3rd quarter. Wellington Management Group LLP now owns 2,830,929 shares of the industrial products company’s stock worth $607,234,000 after acquiring an additional 1,472,456 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of IDEX by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,891,175 shares of the industrial products company’s stock worth $404,339,000 after acquiring an additional 23,388 shares in the last quarter. Champlain Investment Partners LLC increased its stake in shares of IDEX by 28.8% in the 3rd quarter. Champlain Investment Partners LLC now owns 1,223,676 shares of the industrial products company’s stock worth $262,479,000 after acquiring an additional 273,460 shares in the last quarter. Finally, Barclays PLC increased its stake in shares of IDEX by 1.2% in the 3rd quarter. Barclays PLC now owns 1,177,645 shares of the industrial products company’s stock worth $252,603,000 after acquiring an additional 14,360 shares in the last quarter. Hedge funds and other institutional investors own 97.96% of the company’s stock.

IDEX Stock Performance

Shares of NYSE IEX opened at $195.21 on Tuesday. The firm’s 50-day moving average price is $212.09 and its 200-day moving average price is $211.57. The company has a quick ratio of 2.11, a current ratio of 2.53 and a debt-to-equity ratio of 0.49. The company has a market cap of $14.78 billion, a PE ratio of 29.35, a PEG ratio of 1.98 and a beta of 0.97. IDEX Co. has a 52-week low of $189.51 and a 52-week high of $246.36.

IDEX (NYSE:IEX) last posted its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $2.04 earnings per share (EPS) 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%. As a group, analysts anticipate that IDEX Co. will post 8.37 EPS for the current year.

Analysts Set New Price Targets

Several brokerages recently issued reports on IEX. Stifel Nicolaus increased their price target on shares of IDEX from $244.00 to $256.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Royal Bank of Canada cut their price objective on shares of IDEX from $256.00 to $245.00 and set an “outperform” rating on the stock in a research report on Thursday, February 6th. Robert W. Baird cut their price objective on shares of IDEX from $245.00 to $241.00 and set an “outperform” rating on the stock in a research report on Thursday, October 31st. Finally, Citigroup cut their price objective on shares of IDEX from $269.00 to $267.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $241.00.

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.