IDEX Co. (NYSE:IEX) Shares Sold by HBK Sorce Advisory LLC

HBK Sorce Advisory LLC lowered its stake in shares of IDEX Co. (NYSE:IEX) by 45.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,137 shares of the industrial products company’s stock after selling 965 shares during the quarter. HBK Sorce Advisory LLC’s holdings in IDEX were worth $247,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Parkside Financial Bank & Trust increased its holdings in shares of IDEX by 120.3% during 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. Planned Solutions Inc. acquired a new position in shares of IDEX during the fourth quarter valued at about $33,000. Clear Street Markets LLC increased its holdings in IDEX by 94.7% in the 1st quarter. Clear Street Markets LLC now owns 148 shares of the industrial products company’s stock worth $34,000 after buying an additional 72 shares during the period. Compagnie Lombard Odier SCmA acquired a new position in IDEX in the 4th quarter worth approximately $54,000. Finally, Covington Capital Management increased its holdings in IDEX by 120.7% in the 3rd quarter. Covington Capital Management now owns 331 shares of the industrial products company’s stock worth $66,000 after buying an additional 181 shares during the period. Institutional investors and hedge funds own 97.96% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on IEX shares. Citigroup increased their price target on shares of IDEX from $254.00 to $277.00 and gave the stock a “buy” rating in a report on Monday. Royal Bank of Canada reiterated an “outperform” rating and issued a $255.00 price target on shares of IDEX in a report on Thursday, March 21st. Finally, Stifel Nicolaus upgraded shares of IDEX from a “hold” rating to a “buy” rating and increased their price target for the stock from $215.00 to $265.00 in a report on Thursday, February 8th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $238.00.

IDEX Trading Down 0.1 %

IDEX stock opened at $236.25 on Friday. 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’s 50 day simple moving average is $235.65 and its two-hundred day simple moving average is $215.12. The firm has a market cap of $17.88 billion, a PE ratio of 30.13, a P/E/G ratio of 2.36 and a beta of 0.97.

IDEX (NYSE:IEX) last announced its earnings results on Tuesday, February 6th. The industrial products company reported $1.83 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $788.90 million for the quarter, compared to analyst estimates of $767.96 million. During the same quarter last year, the firm posted $2.01 EPS. The business’s revenue was down 2.7% on a year-over-year basis. Analysts anticipate that IDEX Co. will post 8.35 earnings per share for the current year.

IDEX Company 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.