Burney Co. Reduces Position in IDEX Co. (NYSE:IEX)

Burney Co. reduced its holdings in shares of IDEX Co. (NYSE:IEXFree Report) by 3.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,300 shares of the industrial products company’s stock after selling 85 shares during the quarter. Burney Co.’s holdings in IDEX were worth $478,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in IEX. Parkside Financial Bank & Trust lifted its position in shares of IDEX by 120.3% in the first quarter. Parkside Financial Bank & Trust now owns 141 shares of the industrial products company’s stock valued at $27,000 after acquiring an additional 77 shares in the last quarter. Clear Street Markets LLC raised its stake in IDEX by 94.7% in the 1st quarter. Clear Street Markets LLC now owns 148 shares of the industrial products company’s stock valued at $34,000 after purchasing an additional 72 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in IDEX by 43.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 164 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 50 shares in the last quarter. West Tower Group LLC purchased a new stake in shares of IDEX during the second quarter worth about $42,000. Finally, Your Advocates Ltd. LLP purchased a new position in shares of IDEX during the second quarter valued at approximately $60,000. Institutional investors and hedge funds own 94.85% of the company’s stock.

IDEX Stock Performance

NYSE:IEX opened at $228.11 on Friday. The firm’s fifty day simple moving average is $211.81 and its 200 day simple moving average is $209.74. The company has a current ratio of 2.89, a quick ratio of 2.20 and a debt-to-equity ratio of 0.37. IDEX Co. has a twelve month low of $183.76 and a twelve month high of $231.61. The firm has a market capitalization of $17.25 billion, a price-to-earnings ratio of 29.10, a PEG ratio of 2.26 and a beta of 0.96.

IDEX (NYSE:IEXGet Free Report) last issued its quarterly earnings data on Tuesday, February 6th. The industrial products company reported $1.83 EPS for the quarter, topping analysts’ consensus estimates of $1.78 by $0.05. IDEX had a return on equity of 18.56% and a net margin of 18.21%. The company had revenue of $788.90 million for the quarter, compared to analysts’ expectations of $767.96 million. During the same quarter in the previous year, the firm posted $2.01 earnings per share. The firm’s quarterly revenue was down 2.7% on a year-over-year basis. As a group, equities research analysts expect that IDEX Co. will post 8.31 earnings per share for the current fiscal year.

Analyst Ratings Changes

IEX has been the topic of a number of research analyst reports. Royal Bank of Canada raised their price target on IDEX from $234.00 to $255.00 and gave the stock an “outperform” rating in a research note on Thursday. Oppenheimer reaffirmed an “outperform” rating and issued a $245.00 target price on shares of IDEX in a research report on Thursday, October 19th. Finally, Stifel Nicolaus raised IDEX from a “hold” rating to a “buy” rating and boosted their price target for the company from $215.00 to $265.00 in a research report on Thursday. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, IDEX presently has a consensus rating of “Moderate Buy” and a consensus target price of $235.56.

Check Out Our Latest Research Report on IEX

About IDEX

(Free Report)

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.

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Institutional Ownership by Quarter for IDEX (NYSE:IEX)

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