DnB Asset Management AS Has $4.24 Million Position in IDEX Co. (NYSE:IEX)

DnB Asset Management AS cut its holdings in IDEX Co. (NYSE:IEX) by 2.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 20,274 shares of the industrial products company’s stock after selling 560 shares during the quarter. DnB Asset Management AS’s holdings in IDEX were worth $4,243,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. Jones Financial Companies Lllp boosted its holdings in shares of IDEX by 35.2% in the fourth quarter. Jones Financial Companies Lllp now owns 407 shares of the industrial products company’s stock valued at $85,000 after buying an additional 106 shares during the period. Assetmark Inc. boosted its stake in IDEX by 129.1% in the 4th quarter. Assetmark Inc. now owns 417 shares of the industrial products company’s stock worth $87,000 after purchasing an additional 235 shares during the period. Fred Alger Management LLC bought a new position in IDEX during the 3rd quarter worth about $89,000. Millburn Ridgefield Corp raised its stake in shares of IDEX by 475.0% in the 3rd quarter. Millburn Ridgefield Corp now owns 460 shares of the industrial products company’s stock valued at $99,000 after purchasing an additional 380 shares during the period. Finally, BankPlus Trust Department bought a new stake in shares of IDEX in the fourth quarter valued at about $123,000. 97.96% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

IEX has been the topic of a number of recent research reports. Royal Bank of Canada dropped their target price on IDEX from $256.00 to $245.00 and set an “outperform” rating on the stock in a research report on Thursday, February 6th. Citigroup cut their price objective on shares of IDEX from $269.00 to $267.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. DA Davidson lowered 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. Finally, Stifel Nicolaus increased their price objective 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. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, IDEX currently has an average rating of “Moderate Buy” and a consensus price target of $241.71.

IDEX Stock Down 1.7 %

Shares of IEX stock opened at $180.80 on Monday. IDEX Co. has a 52-week low of $177.71 and a 52-week high of $244.11. The stock has a market cap of $13.66 billion, a price-to-earnings ratio of 27.19, a PEG ratio of 1.98 and a beta of 0.99. The firm’s 50-day moving average is $197.16 and its 200-day moving average is $209.49. 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 (NYSE:IEX) last released its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $2.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.03 by $0.01. IDEX had a return on equity of 16.08% and a net margin of 15.45%. Sell-side analysts predict that IDEX Co. will post 8.26 EPS for the current year.

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.