Comerica Bank Has $22.24 Million Stake in IDEX Co. (NYSE:IEX)

Comerica Bank lowered its position in IDEX Co. (NYSE:IEX - Free Report) by 2.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 106,239 shares of the industrial products company's stock after selling 2,537 shares during the period. Comerica Bank owned 0.14% of IDEX worth $22,235,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of IEX. Vanguard Group Inc. boosted its stake in IDEX by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 9,306,008 shares of the industrial products company's stock worth $1,947,654,000 after purchasing an additional 63,432 shares in the last quarter. Wellington Management Group LLP lifted its position in IDEX by 49.1% during the 4th quarter. Wellington Management Group LLP now owns 4,219,596 shares of the industrial products company's stock worth $883,119,000 after buying an additional 1,388,667 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in IDEX by 8.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,666,777 shares of the industrial products company's stock worth $767,421,000 after acquiring an additional 277,964 shares during the last quarter. Geode Capital Management LLC increased its position in IDEX by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 1,912,933 shares of the industrial products company's stock valued at $399,350,000 after acquiring an additional 21,758 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. raised its stake in shares of IDEX by 0.9% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,868,919 shares of the industrial products company's stock worth $391,147,000 after acquiring an additional 17,087 shares during the last quarter. 97.96% of the stock is owned by institutional investors and hedge funds.

IDEX Stock Up 3.7 %

Shares of NYSE IEX traded up $6.42 during mid-day trading on Friday, reaching $181.67. 780,131 shares of the company's stock were exchanged, compared to its average volume of 574,851. 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 firm has a market capitalization of $13.72 billion, a price-to-earnings ratio of 27.32, a PEG ratio of 1.98 and a beta of 1.07. The business has a fifty day simple moving average of $177.36 and a 200 day simple moving average of $202.15. IDEX Co. has a twelve month low of $153.36 and a twelve month high of $238.22.

IDEX (NYSE:IEX - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The industrial products company reported $1.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.64 by $0.11. The company had revenue of $814.30 million during the quarter, compared to the consensus estimate of $807.25 million. IDEX had a net margin of 15.45% and a return on equity of 16.08%. The firm's revenue was up 1.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.88 earnings per share. As a group, equities analysts expect that IDEX Co. will post 8.26 EPS for the current fiscal year.

Analysts Set New Price Targets

IEX has been the subject of a number of research reports. DA Davidson lowered their price target on shares of IDEX from $225.00 to $215.00 and set a "neutral" rating for the company in a report on Wednesday, February 19th. Citigroup cut their price target on IDEX from $264.00 to $201.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Royal Bank of Canada lifted their price objective on IDEX from $206.00 to $208.00 and gave the stock an "outperform" rating in a research report on Friday. Stifel Nicolaus boosted their price target on shares of IDEX from $192.00 to $208.00 and gave the stock a "buy" rating in a research note on Friday. Finally, Mizuho set a $175.00 target price on shares of IDEX in a report on Tuesday, April 22nd. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, IDEX presently has a consensus rating of "Moderate Buy" and an average price target of $214.50.

IDEX 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.