Swiss National Bank Sells 10,700 Shares of IDEX Co. (NYSE:IEX)

Swiss National Bank cut its holdings in shares of IDEX Co. (NYSE:IEX) by 4.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 213,900 shares of the industrial products company’s stock after selling 10,700 shares during the period. Swiss National Bank owned approximately 0.28% of IDEX worth $44,767,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. EverSource Wealth Advisors LLC increased its position in shares of IDEX by 49.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 590 shares of the industrial products company’s stock worth $123,000 after acquiring an additional 196 shares in the last quarter. HighTower Advisors LLC increased its position in shares of IDEX by 21.8% during the fourth quarter. HighTower Advisors LLC now owns 12,546 shares of the industrial products company’s stock worth $2,626,000 after acquiring an additional 2,242 shares in the last quarter. Net Worth Advisory Group increased its position in shares of IDEX by 2.8% during the fourth quarter. Net Worth Advisory Group now owns 2,651 shares of the industrial products company’s stock worth $555,000 after acquiring an additional 73 shares in the last quarter. Johnson Investment Counsel Inc. grew its position in IDEX by 178.3% in the 4th quarter. Johnson Investment Counsel Inc. now owns 254,842 shares of the industrial products company’s stock worth $53,336,000 after purchasing an additional 163,283 shares in the last quarter. Finally, Daiwa Securities Group Inc. grew its position in IDEX by 5.9% in the 4th quarter. Daiwa Securities Group Inc. now owns 12,106 shares of the industrial products company’s stock worth $2,533,000 after purchasing an additional 674 shares in the last quarter. 97.96% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on IEX shares. Royal Bank of Canada reduced their price objective on shares of IDEX from $256.00 to $245.00 and set an “outperform” rating for the company in a research report on Thursday, February 6th. DA Davidson reduced their price objective on shares of IDEX from $225.00 to $215.00 and set a “neutral” rating for the company in a research report on Wednesday, February 19th. Citigroup reduced 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. Finally, Stifel Nicolaus upped their price objective on shares of IDEX from $244.00 to $256.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, IDEX has a consensus rating of “Moderate Buy” and an average target price of $241.71.

IDEX Stock Up 2.4 %

IEX opened at $182.47 on Monday. The company has a quick ratio of 1.85, a current ratio of 2.53 and a debt-to-equity ratio of 0.49. The stock has a market cap of $13.83 billion, a price-to-earnings ratio of 27.44, a PEG ratio of 1.98 and a beta of 0.99. IDEX Co. has a twelve month low of $177.71 and a twelve month high of $246.36. The company’s 50-day moving average price is $202.65 and its two-hundred day moving average price is $210.65.

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, beating 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%. As a group, equities analysts expect that IDEX Co. will post 8.26 earnings per share for the current year.

IDEX 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.