IDEX Co. (NYSE:IEX) Holdings Cut by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC decreased its position in IDEX Co. (NYSE:IEX - Free Report) by 24.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 63,790 shares of the industrial products company's stock after selling 20,192 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.08% of IDEX worth $13,849,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Nordea Investment Management AB increased its position in shares of 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 acquiring an additional 125,348 shares during the period. Lincoln National Corp boosted its stake in shares of 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 buying an additional 104 shares during the period. Deutsche Bank AG boosted its stake in shares of 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 buying an additional 28,661 shares during the period. Raymond James & Associates boosted its stake in shares of 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 buying an additional 7,684 shares during the period. Finally, Boston Trust Walden Corp boosted its stake in shares of IDEX by 112.4% during the fourth quarter. Boston Trust Walden Corp now owns 201,152 shares of the industrial products company's stock worth $43,672,000 after buying an additional 106,431 shares during the period. Hedge funds and other institutional investors own 97.96% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $255.00 target price on shares of IDEX in a report on Thursday, March 21st. Citigroup raised their price objective on shares of IDEX from $254.00 to $277.00 and gave the stock a "buy" rating in a research note on Monday, April 8th. Finally, Stifel Nicolaus raised shares of IDEX from a "hold" rating to a "buy" rating and raised their price objective for the stock from $215.00 to $265.00 in a research note on Thursday, February 8th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, IDEX has a consensus rating of "Moderate Buy" and a consensus target price of $238.00.

IDEX Stock Down 0.6 %

Shares of NYSE:IEX traded down $1.37 during midday trading on Tuesday, hitting $229.12. 355,764 shares of the company's stock traded hands, compared to its average volume of 379,460. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.05 and a current ratio of 2.89. The company has a market cap of $17.34 billion, a PE ratio of 29.30, a P/E/G ratio of 2.32 and a beta of 0.97. The firm's fifty day moving average price is $236.13 and its two-hundred day moving average price is $215.58. IDEX Co. has a twelve month low of $183.76 and a twelve month high of $246.36.

IDEX (NYSE:IEX - Get Free Report) last posted its earnings results on Tuesday, February 6th. The industrial products company reported $1.83 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.05. The business had revenue of $788.90 million for the quarter, compared to analyst estimates of $767.96 million. IDEX had a net margin of 18.21% and a return on equity of 18.56%. The business's quarterly revenue was down 2.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.01 EPS. On average, equities research analysts anticipate that IDEX Co. will post 8.35 EPS for the current fiscal year.

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.