Geneva Capital Management LLC Trims Stock Holdings in IDEX Co. (NYSE:IEX)

Geneva Capital Management LLC reduced its stake in IDEX Co. (NYSE:IEX) by 10.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 109,635 shares of the industrial products company’s stock after selling 13,390 shares during the period. Geneva Capital Management LLC owned approximately 0.14% of IDEX worth $22,946,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of IEX. Wellington Management Group LLP raised its holdings in IDEX by 108.4% in the 3rd quarter. Wellington Management Group LLP now owns 2,830,929 shares of the industrial products company’s stock valued at $607,234,000 after buying an additional 1,472,456 shares during the period. Champlain Investment Partners LLC increased its stake in IDEX by 28.8% during the third quarter. Champlain Investment Partners LLC now owns 1,223,676 shares of the industrial products company’s stock worth $262,479,000 after purchasing an additional 273,460 shares during the period. Allianz Asset Management GmbH increased its stake in IDEX by 133.2% during the fourth quarter. Allianz Asset Management GmbH now owns 406,637 shares of the industrial products company’s stock worth $85,105,000 after purchasing an additional 232,255 shares during the period. Raymond James Financial Inc. purchased a new stake in IDEX during the fourth quarter worth about $35,375,000. Finally, DF Dent & Co. Inc. purchased a new stake in IDEX during the third quarter worth about $31,747,000. 97.96% of the stock is currently owned by hedge funds and other institutional investors.

IDEX Stock Up 1.4 %

IEX stock opened at $188.56 on Thursday. The company’s 50 day moving average price is $206.17 and its 200 day moving average price is $211.45. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.85 and a current ratio of 2.53. IDEX Co. has a fifty-two week low of $183.24 and a fifty-two week high of $246.36. The firm has a market capitalization of $14.29 billion, a price-to-earnings ratio of 28.35, a PEG ratio of 1.98 and a beta of 0.99.

IDEX (NYSE:IEX) last released its earnings results on Tuesday, February 4th. The industrial products company reported $2.04 earnings per share for the quarter, topping analysts’ consensus estimates of $2.03 by $0.01. IDEX had a net margin of 15.45% and a return on equity of 16.08%. On average, equities research analysts anticipate that IDEX Co. will post 8.26 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on IEX. Stifel Nicolaus boosted their price target on shares of IDEX from $244.00 to $256.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Royal Bank of Canada cut their price target on shares of IDEX from $256.00 to $245.00 and set an “outperform” rating on the stock in a research note on Thursday, February 6th. Citigroup cut their price target on shares of IDEX from $269.00 to $267.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Finally, DA Davidson cut their price target on shares of IDEX from $225.00 to $215.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 19th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, IDEX presently has a consensus rating of “Moderate Buy” and an average price target of $241.71.

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.