Mirae Asset Global Investments Co. Ltd. cut its holdings in IDEX Co. (NYSE:IEX - Free Report) by 3.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 416,023 shares of the industrial products company's stock after selling 16,170 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned 0.55% of IDEX worth $90,323,000 as of its most recent SEC filing.
Other institutional investors also recently bought and sold shares of the company. Nordea Investment Management AB boosted its position in IDEX by 1,196.4% during the fourth quarter. Nordea Investment Management AB now owns 135,825 shares of the industrial products company's stock worth $29,598,000 after purchasing an additional 125,348 shares in the last quarter. Lincoln National Corp boosted its position in IDEX by 7.1% during the third quarter. Lincoln National Corp now owns 1,564 shares of the industrial products company's stock worth $325,000 after purchasing an additional 104 shares in the last quarter. Deutsche Bank AG boosted its position in IDEX by 13.3% during the third quarter. Deutsche Bank AG now owns 244,610 shares of the industrial products company's stock worth $50,884,000 after purchasing an additional 28,661 shares in the last quarter. Raymond James & Associates boosted its position in IDEX by 11.2% during the fourth quarter. Raymond James & Associates now owns 76,465 shares of the industrial products company's stock worth $16,601,000 after purchasing an additional 7,684 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new position in shares of IDEX in the fourth quarter worth $2,389,000. 97.96% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently weighed in on the company. Stifel Nicolaus raised IDEX from a "hold" rating to a "buy" rating and boosted their price target for the stock from $215.00 to $265.00 in a report on Thursday, February 8th. Royal Bank of Canada reissued an "outperform" rating and issued a $255.00 price target on shares of IDEX in a report on Thursday, March 21st. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $235.56.
Check Out Our Latest Stock Report on IDEX
IDEX Trading Up 1.1 %
IDEX stock traded up $2.59 during trading on Friday, hitting $239.38. The company's stock had a trading volume of 280,536 shares, compared to its average volume of 294,822. The stock has a market capitalization of $18.12 billion, a price-to-earnings ratio of 30.53, a P/E/G ratio of 2.36 and a beta of 0.97. The stock's fifty day moving average is $233.74 and its 200 day moving average is $214.32. IDEX Co. has a 1-year low of $183.76 and a 1-year high of $246.36. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.05 and a current ratio of 2.89.
IDEX (NYSE:IEX - Get Free Report) last released its earnings results on Tuesday, February 6th. The industrial products company reported $1.83 EPS for the quarter, beating the consensus estimate of $1.78 by $0.05. The firm had revenue of $788.90 million during the quarter, compared to analyst estimates of $767.96 million. IDEX had a return on equity of 18.56% and a net margin of 18.21%. The business's quarterly revenue was down 2.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.01 earnings per share. As a group, equities research analysts predict that IDEX Co. will post 8.35 EPS for the current year.
IDEX Company Profile
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Free Report)
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.
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