Independent Advisor Alliance Sells 3,430 Shares of IDEX Co. (NYSE:IEX)

Independent Advisor Alliance lessened its position in IDEX Co. (NYSE:IEX) by 20.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 13,346 shares of the industrial products company’s stock after selling 3,430 shares during the period. Independent Advisor Alliance’s holdings in IDEX were worth $2,793,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in IEX. Principal Financial Group Inc. lifted its stake in shares of IDEX by 3.0% in the third quarter. Principal Financial Group Inc. now owns 95,836 shares of the industrial products company’s stock worth $20,557,000 after buying an additional 2,820 shares in the last quarter. Assetmark Inc. bought a new position in shares of IDEX in the third quarter worth approximately $39,000. Mesirow Financial Investment Management Inc. bought a new position in IDEX during the third quarter valued at approximately $201,000. Apollon Wealth Management LLC boosted its holdings in IDEX by 7.2% in the third quarter. Apollon Wealth Management LLC now owns 5,979 shares of the industrial products company’s stock worth $1,283,000 after purchasing an additional 399 shares during the last quarter. Finally, Entropy Technologies LP bought a new stake in IDEX in the 3rd quarter worth approximately $1,931,000. Institutional investors own 97.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on IEX shares. Stifel Nicolaus increased their price target on IDEX from $244.00 to $256.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Citigroup dropped their price target on IDEX from $269.00 to $267.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Royal Bank of Canada dropped their price target on IDEX from $256.00 to $245.00 and set an “outperform” rating on the stock in a research note on Thursday, February 6th. Finally, DA Davidson dropped their price target on 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 given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $241.71.

IDEX Price Performance

Shares of IDEX stock opened at $181.96 on Thursday. IDEX Co. has a one year low of $181.09 and a one year high of $246.36. The stock’s fifty day moving average is $203.70 and its 200 day moving average is $210.93. The stock has a market cap of $13.79 billion, a P/E ratio of 27.36, a P/E/G ratio of 1.98 and a beta of 0.99. 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 announced its earnings results on Tuesday, February 4th. The industrial products company reported $2.04 EPS for the quarter, topping 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 anticipate that IDEX Co. will post 8.26 earnings per share 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.