CIBC Asset Management Inc Trims Stock Position in IDEX Co. (NYSE:IEX)

CIBC Asset Management Inc decreased its position in shares of IDEX Co. (NYSE:IEX) by 51.7% during the 4th quarter, HoldingsChannel.com reports. The firm owned 11,611 shares of the industrial products company’s stock after selling 12,443 shares during the quarter. CIBC Asset Management Inc’s holdings in IDEX were worth $2,430,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vontobel Holding Ltd. increased its position in IDEX by 69.9% during the fourth quarter. Vontobel Holding Ltd. now owns 28,975 shares of the industrial products company’s stock worth $6,064,000 after buying an additional 11,925 shares during the period. Asset Management One Co. Ltd. increased its holdings in shares of IDEX by 4.2% in the 4th quarter. Asset Management One Co. Ltd. now owns 30,250 shares of the industrial products company’s stock valued at $6,386,000 after acquiring an additional 1,209 shares during the period. WCM Investment Management LLC acquired a new position in shares of IDEX in the 4th quarter valued at $215,000. Empowered Funds LLC boosted its stake in IDEX by 22.9% during the 4th quarter. Empowered Funds LLC now owns 1,592 shares of the industrial products company’s stock worth $333,000 after purchasing an additional 297 shares during the period. Finally, Vest Financial LLC grew its position in IDEX by 61.2% during the 4th quarter. Vest Financial LLC now owns 11,530 shares of the industrial products company’s stock worth $2,413,000 after purchasing an additional 4,376 shares during the last quarter. Institutional investors and hedge funds own 97.96% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on IEX shares. Stifel Nicolaus increased their target price 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 lowered their target price on IDEX from $256.00 to $245.00 and set an “outperform” rating on the stock in a research note on Thursday, February 6th. Robert W. Baird cut their price target on IDEX from $245.00 to $241.00 and set an “outperform” rating for the company in a research note on Thursday, October 31st. DA Davidson lowered their price objective on shares of IDEX from $225.00 to $215.00 and set a “neutral” rating on the stock in a research report on Wednesday. Finally, Citigroup cut their price objective on shares of IDEX from $269.00 to $267.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $241.71.

IDEX Stock Performance

NYSE:IEX opened at $192.96 on Friday. The company has a quick ratio of 1.85, a current ratio of 2.53 and a debt-to-equity ratio of 0.49. IDEX Co. has a fifty-two week low of $189.51 and a fifty-two week high of $246.36. The firm’s fifty day simple moving average is $209.69 and its 200-day simple moving average is $211.40. The stock has a market cap of $14.61 billion, a PE ratio of 29.02, a price-to-earnings-growth ratio of 2.00 and a beta of 0.97.

IDEX (NYSE:IEX) last issued its earnings results on Tuesday, February 4th. The industrial products company reported $2.04 earnings per share for the quarter, topping the consensus estimate of $2.03 by $0.01. IDEX had a net margin of 15.45% and a return on equity of 16.08%. Analysts expect that IDEX Co. will post 8.26 earnings per share for the current fiscal year.

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.