Hsbc Holdings PLC Reduces Stock Position in IDEX Co. (NYSE:IEX)

Hsbc Holdings PLC cut its stake in IDEX Co. (NYSE:IEX - Free Report) by 4.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 373,072 shares of the industrial products company's stock after selling 15,900 shares during the period. Hsbc Holdings PLC owned about 0.49% of IDEX worth $78,077,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Asset Management One Co. Ltd. grew 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 buying an additional 1,209 shares in the last quarter. Assetmark Inc. increased its position 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 purchasing an additional 235 shares during the last quarter. Covea Finance raised its holdings in shares of IDEX by 70.6% in the 4th quarter. Covea Finance now owns 14,500 shares of the industrial products company's stock valued at $3,035,000 after purchasing an additional 6,000 shares in the last quarter. Barclays PLC lifted its position in shares of IDEX by 1.2% during the 3rd quarter. Barclays PLC now owns 1,177,645 shares of the industrial products company's stock worth $252,603,000 after purchasing an additional 14,360 shares during the last quarter. Finally, Park Avenue Securities LLC increased its holdings in IDEX by 27.0% in the fourth quarter. Park Avenue Securities LLC now owns 2,330 shares of the industrial products company's stock valued at $488,000 after buying an additional 495 shares during the last quarter. 97.96% of the stock is owned by institutional investors and hedge funds.

IDEX Price Performance

Shares of NYSE:IEX traded down $0.66 during trading on Tuesday, hitting $173.44. 117,109 shares of the stock were exchanged, compared to its average volume of 564,671. IDEX Co. has a 12-month low of $153.36 and a 12-month high of $238.22. The company has a market cap of $13.10 billion, a PE ratio of 26.08, a P/E/G ratio of 1.98 and a beta of 1.05. The company has a fifty day moving average price of $178.94 and a two-hundred day moving average price of $203.10. 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 (NYSE:IEX - Get Free Report) last announced its quarterly earnings results 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 return on equity of 16.08% and a net margin of 15.45%. On average, analysts forecast that IDEX Co. will post 8.26 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. DA Davidson decreased their target price on IDEX from $225.00 to $215.00 and set a "neutral" rating for the company in a research note on Wednesday, February 19th. Citigroup cut their target price on IDEX from $264.00 to $201.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Stifel Nicolaus decreased their target price on IDEX from $256.00 to $192.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Royal Bank of Canada reduced their price objective 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, Mizuho set a $175.00 target price on shares of IDEX in a research report on Tuesday, April 22nd. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $217.13.

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.