IDEX Co. (NYSE:IEX) Shares Sold by Primecap Management Co. CA

Primecap Management Co. CA trimmed its position in IDEX Co. (NYSE:IEX) by 3.8% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 283,270 shares of the industrial products company’s stock after selling 11,225 shares during the period. Primecap Management Co. CA owned 0.37% of IDEX worth $59,286,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Asset Management One Co. Ltd. grew its stake in IDEX by 4.2% in the fourth quarter. Asset Management One Co. Ltd. now owns 30,250 shares of the industrial products company’s stock worth $6,386,000 after purchasing an additional 1,209 shares in the last quarter. Cerity Partners LLC grew its stake in IDEX by 48.3% in the third quarter. Cerity Partners LLC now owns 20,632 shares of the industrial products company’s stock worth $4,426,000 after purchasing an additional 6,720 shares in the last quarter. Assetmark Inc. grew its stake in IDEX by 129.1% in the fourth quarter. Assetmark Inc. now owns 417 shares of the industrial products company’s stock worth $87,000 after purchasing an additional 235 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in IDEX by 7.1% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 250,443 shares of the industrial products company’s stock worth $53,720,000 after purchasing an additional 16,504 shares in the last quarter. Finally, Covea Finance lifted its holdings in IDEX by 70.6% in the fourth quarter. Covea Finance now owns 14,500 shares of the industrial products company’s stock worth $3,035,000 after acquiring an additional 6,000 shares during the last quarter. 97.96% of the stock is currently owned by institutional investors and hedge funds.

IDEX Stock Performance

IEX opened at $184.58 on Wednesday. The business’s 50 day moving average is $201.69 and its 200-day moving average is $210.35. The stock has a market cap of $13.99 billion, a PE ratio of 27.76, a price-to-earnings-growth ratio of 1.98 and a beta of 0.99. The company has a current ratio of 2.53, a quick ratio of 1.85 and a debt-to-equity ratio of 0.49. IDEX Co. has a twelve month low of $177.71 and a twelve month high of $246.36.

IDEX (NYSE:IEX) last released its quarterly 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 return on equity of 16.08% and a net margin of 15.45%. On average, analysts predict that IDEX Co. will post 8.26 earnings per share for the current year.

Analysts Set New Price Targets

IEX has been the topic of a number of recent research reports. Stifel Nicolaus raised their target price on shares of IDEX from $244.00 to $256.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Citigroup cut their target price on shares of IDEX from $269.00 to $267.00 and set a “buy” rating on the stock in a report on Monday, January 13th. DA Davidson cut their target price on shares of IDEX from $225.00 to $215.00 and set a “neutral” rating on the stock in a report on Wednesday, February 19th. Finally, Royal Bank of Canada cut their target price on shares of IDEX from $256.00 to $245.00 and set an “outperform” rating on the stock in a report on Thursday, February 6th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $241.71.

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.