Truist Financial Corp Trims Stock Holdings in IDEX Co. (NYSE:IEX)

Truist Financial Corp trimmed its holdings in shares of IDEX Co. (NYSE:IEX - Free Report) by 11.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 58,624 shares of the industrial products company's stock after selling 7,294 shares during the quarter. Truist Financial Corp owned 0.08% of IDEX worth $12,728,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Planned Solutions Inc. bought a new stake in shares of IDEX in the fourth quarter valued at about $33,000. Compagnie Lombard Odier SCmA bought a new stake in shares of IDEX in the fourth quarter valued at about $54,000. Cary Street Partners Investment Advisory LLC raised its holdings in shares of IDEX by 30.9% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 339 shares of the industrial products company's stock valued at $71,000 after acquiring an additional 80 shares in the last quarter. Desjardins Global Asset Management Inc. raised its holdings in shares of IDEX by 25.6% in the fourth quarter. Desjardins Global Asset Management Inc. now owns 388 shares of the industrial products company's stock valued at $84,000 after acquiring an additional 79 shares in the last quarter. Finally, Orion Capital Management LLC bought a new stake in shares of IDEX in the third quarter valued at about $86,000. 97.96% of the stock is currently owned by institutional investors.

IDEX Stock Performance

IDEX stock traded down $0.75 during midday trading on Thursday, hitting $220.63. 417,617 shares of the company were exchanged, compared to its average volume of 380,547. IDEX Co. has a fifty-two week low of $183.76 and a fifty-two week high of $246.36. The firm has a market capitalization of $16.70 billion, a PE ratio of 29.03, a price-to-earnings-growth ratio of 2.21 and a beta of 0.99. The business has a fifty day simple moving average of $235.84 and a two-hundred day simple moving average of $217.10. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.45 and a current ratio of 3.37.

IDEX (NYSE:IEX - Get Free Report) last posted its earnings results on Tuesday, April 23rd. The industrial products company reported $1.88 EPS for the quarter, beating analysts' consensus estimates of $1.76 by $0.12. The firm had revenue of $801.00 million for the quarter, compared to analysts' expectations of $807.52 million. IDEX had a return on equity of 17.60% and a net margin of 17.89%. The company's quarterly revenue was down 5.3% on a year-over-year basis. During the same period last year, the firm earned $2.09 EPS. On average, sell-side analysts forecast that IDEX Co. will post 8.33 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on IEX shares. Oppenheimer lifted their target price on IDEX from $245.00 to $252.00 and gave the company an "outperform" rating in a research note on Thursday, April 18th. Stifel Nicolaus upgraded IDEX from a "hold" rating to a "buy" rating and lifted their target price for the company from $215.00 to $265.00 in a research note on Thursday, February 8th. StockNews.com lowered IDEX from a "buy" rating to a "hold" rating in a research note on Wednesday, April 24th. Robert W. Baird cut their target price on IDEX from $260.00 to $256.00 and set an "outperform" rating on the stock in a research note on Thursday, April 25th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and issued a $255.00 price objective on shares of IDEX in a research report on Thursday, March 21st. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, IDEX currently has a consensus rating of "Moderate Buy" and a consensus target price of $250.71.

IDEX Company 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.