IDEX Co. (NYSE:IEX) Shares Sold by Mackenzie Financial Corp

Mackenzie Financial Corp lessened its position in IDEX Co. (NYSE:IEX) by 2.4% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 6,507 shares of the industrial products company’s stock after selling 160 shares during the period. Mackenzie Financial Corp’s holdings in IDEX were worth $1,413,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Impax Asset Management Group plc lifted its stake in shares of IDEX by 4.0% in the 4th quarter. Impax Asset Management Group plc now owns 2,190,741 shares of the industrial products company’s stock worth $475,632,000 after acquiring an additional 84,502 shares during the period. Barclays PLC lifted its stake in shares of IDEX by 3.3% in the third quarter. Barclays PLC now owns 1,143,583 shares of the industrial products company’s stock valued at $237,890,000 after purchasing an additional 36,928 shares during the period. Northern Trust Corp lifted its stake in shares of IDEX by 6.1% in the third quarter. Northern Trust Corp now owns 785,716 shares of the industrial products company’s stock valued at $163,445,000 after purchasing an additional 45,120 shares during the period. Alecta Tjanstepension Omsesidigt lifted its stake in shares of IDEX by 420.8% in the fourth quarter. Alecta Tjanstepension Omsesidigt now owns 781,172 shares of the industrial products company’s stock valued at $169,600,000 after purchasing an additional 631,172 shares during the period. Finally, Fenimore Asset Management Inc. lifted its stake in shares of IDEX by 3.9% in the third quarter. Fenimore Asset Management Inc. now owns 773,412 shares of the industrial products company’s stock valued at $160,885,000 after purchasing an additional 29,258 shares during the period. Institutional investors and hedge funds own 97.96% of the company’s stock.

IDEX Stock Performance

NYSE:IEX opened at $224.64 on Thursday. The firm has a 50 day simple moving average of $236.58 and a 200-day simple moving average of $216.55. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.89 and a quick ratio of 2.05. The firm has a market cap of $17.00 billion, a PE ratio of 28.65, a P/E/G ratio of 2.30 and a beta of 0.97. IDEX Co. has a 1-year low of $183.76 and a 1-year high of $246.36.

IDEX (NYSE:IEX) last posted its quarterly earnings data on Tuesday, April 23rd. The industrial products company reported $1.88 earnings per share for the quarter, beating analysts’ consensus estimates of $1.76 by $0.12. The business had revenue of $801.00 million during the quarter, compared to analyst estimates of $807.52 million. IDEX had a net margin of 18.21% and a return on equity of 18.56%. The company’s revenue was down 5.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.09 earnings per share. On average, equities analysts expect that IDEX Co. will post 8.34 EPS for the current year.

Analyst Ratings Changes

IEX has been the subject of several recent analyst reports. Oppenheimer raised their price objective on shares of IDEX from $245.00 to $252.00 and gave the company an “outperform” rating in a research note on Thursday, April 18th. Royal Bank of Canada restated an “outperform” rating and set a $255.00 target price on shares of IDEX in a research report on Thursday, March 21st. StockNews.com cut shares of IDEX from a “buy” rating to a “hold” rating in a research report on Wednesday. Citigroup lifted their target price on shares of IDEX from $254.00 to $277.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. Finally, Stifel Nicolaus upgraded shares of IDEX from a “hold” rating to a “buy” rating and lifted their target price for the stock from $215.00 to $265.00 in a research report on Thursday, February 8th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, IDEX presently has an average rating of “Moderate Buy” and an average price target of $238.78.

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.