Gabelli Funds LLC lessened its position in IDEX Co. (NYSE:IEX – Get Rating) by 2.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 273,300 shares of the industrial products company’s stock after selling 6,400 shares during the quarter. Gabelli Funds LLC’s holdings in IDEX were worth $52,400,000 at the end of the most recent quarter.
Several other institutional investors have also recently bought and sold shares of the company. Beacon Pointe Advisors LLC bought a new position in IDEX in the 1st quarter worth $205,000. Quantbot Technologies LP raised its holdings in IDEX by 158.0% in the 1st quarter. Quantbot Technologies LP now owns 14,877 shares of the industrial products company’s stock worth $2,852,000 after acquiring an additional 9,111 shares during the period. Royal Bank of Canada raised its holdings in IDEX by 11.3% in the 1st quarter. Royal Bank of Canada now owns 206,677 shares of the industrial products company’s stock worth $39,626,000 after acquiring an additional 20,937 shares during the period. Dynamic Technology Lab Private Ltd raised its holdings in IDEX by 88.7% in the 1st quarter. Dynamic Technology Lab Private Ltd now owns 16,587 shares of the industrial products company’s stock worth $3,180,000 after acquiring an additional 7,795 shares during the period. Finally, Eaton Vance Management raised its holdings in IDEX by 684.2% in the 1st quarter. Eaton Vance Management now owns 95,176 shares of the industrial products company’s stock worth $18,248,000 after acquiring an additional 83,039 shares during the period. Institutional investors own 96.52% of the company’s stock.
Analyst Ratings Changes
Several research analysts have recently issued reports on the stock. Mizuho boosted their price objective on shares of IDEX from $190.00 to $205.00 and gave the stock a “neutral” rating in a report on Monday, August 1st. Morgan Stanley dropped their price objective on shares of IDEX from $250.00 to $225.00 and set an “overweight” rating on the stock in a report on Thursday, June 9th. Sanford C. Bernstein assumed coverage on shares of IDEX in a report on Tuesday, August 16th. They set a “market perform” rating and a $220.00 price objective on the stock. Citigroup boosted their price objective on shares of IDEX from $219.00 to $228.00 in a report on Thursday, July 28th. Finally, StockNews.com upgraded shares of IDEX from a “hold” rating to a “buy” rating in a report on Friday, July 22nd. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $218.91.
IDEX Price Performance
IDEX (NYSE:IEX – Get Rating) last released its quarterly earnings results on Tuesday, July 26th. The industrial products company reported $2.02 EPS for the quarter, beating analysts’ consensus estimates of $1.89 by $0.13. IDEX had a net margin of 17.24% and a return on equity of 19.50%. During the same period last year, the firm earned $1.61 EPS. As a group, research analysts expect that IDEX Co. will post 7.94 EPS for the current fiscal year.
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, small volume provers, flow meters, injectors, and other fluid-handling pump modules and systems, as well as offers flow monitoring and other services for the food, chemical, general industrial, water and wastewater, agricultural, and energy industries.
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