L. Roy Papp & Associates LLP Sells 230 Shares of IDEX Co. (NYSE:IEX)

L. Roy Papp & Associates LLP cut its stake in shares of IDEX Co. (NYSE:IEXFree Report) by 1.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,820 shares of the industrial products company’s stock after selling 230 shares during the quarter. L. Roy Papp & Associates LLP’s holdings in IDEX were worth $3,435,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of IEX. Morgan Stanley increased its holdings in IDEX by 274.1% in the 4th quarter. Morgan Stanley now owns 2,151,334 shares of the industrial products company’s stock worth $491,214,000 after buying an additional 1,576,263 shares in the last quarter. Norges Bank purchased a new position in IDEX in the fourth quarter worth about $226,556,000. Alecta Tjanstepension Omsesidigt boosted its position in IDEX by 420.8% in the fourth quarter. Alecta Tjanstepension Omsesidigt now owns 781,172 shares of the industrial products company’s stock worth $169,600,000 after purchasing an additional 631,172 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in IDEX by 10.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,269,952 shares of the industrial products company’s stock worth $746,628,000 after purchasing an additional 306,008 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its position in shares of IDEX by 316.9% during the 3rd quarter. Ameriprise Financial Inc. now owns 368,849 shares of the industrial products company’s stock valued at $76,667,000 after buying an additional 280,385 shares in the last quarter. 97.96% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

IEX has been the topic of a number of analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $255.00 price objective on shares of IDEX in a research report on Thursday, March 21st. Stifel Nicolaus raised IDEX from a “hold” rating to a “buy” rating and lifted their price objective for the company from $215.00 to $265.00 in a research report on Thursday, February 8th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $235.56.

Get Our Latest Analysis on IDEX

IDEX Stock Down 0.4 %

NYSE IEX opened at $244.02 on Friday. The stock’s 50 day moving average is $230.60 and its 200 day moving average is $213.43. The company has a current ratio of 2.89, a quick ratio of 2.05 and a debt-to-equity ratio of 0.37. IDEX Co. has a 12 month low of $183.76 and a 12 month high of $246.36. The stock has a market cap of $18.47 billion, a PE ratio of 31.13, a P/E/G ratio of 2.44 and a beta of 0.97.

IDEX (NYSE:IEXGet Free Report) last posted its quarterly earnings results 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 period in the previous year, the firm earned $2.01 EPS. The firm’s revenue was down 2.7% compared to the same quarter last year. Research analysts predict that IDEX Co. will post 8.35 EPS for the current fiscal year.

IDEX Profile

(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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