Ariel Investments LLC reduced its position in shares of IDEX Co. (NYSE:IEX) by 49.6% in the 4th quarter, Holdings Channel reports. The firm owned 75,942 shares of the industrial products company’s stock after selling 74,625 shares during the period. Ariel Investments LLC’s holdings in IDEX were worth $10,022,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. Assetmark Inc. purchased a new stake in IDEX in the fourth quarter valued at $118,000. Calton & Associates Inc. purchased a new stake in IDEX in the fourth quarter valued at $160,000. Stock Yards Bank & Trust Co. purchased a new stake in IDEX in the fourth quarter valued at $201,000. Community Bank N.A. purchased a new stake in IDEX in the fourth quarter valued at $203,000. Finally, Advisor Partners LLC purchased a new stake in IDEX in the third quarter valued at $204,000. 95.34% of the stock is owned by institutional investors and hedge funds.
IDEX Co. (NYSE:IEX) opened at $147.45 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 2.06 and a current ratio of 2.78. The stock has a market cap of $11,270.00, a P/E ratio of 33.82, a P/E/G ratio of 2.15 and a beta of 1.25. IDEX Co. has a one year low of $89.69 and a one year high of $148.32.
A number of brokerages recently weighed in on IEX. ValuEngine raised shares of IDEX from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. Zacks Investment Research raised shares of IDEX from a “hold” rating to a “buy” rating and set a $162.00 price target for the company in a research report on Friday, February 2nd. SunTrust Banks boosted their price target on shares of IDEX to $145.00 in a research report on Thursday, February 1st. They noted that the move was a valuation call. BMO Capital Markets boosted their price target on shares of IDEX to $143.00 and gave the company a “market perform” rating in a research report on Wednesday, January 31st. They noted that the move was a valuation call. Finally, Wells Fargo & Co reaffirmed a “positive” rating and issued a $165.00 target price (up from $155.00) on shares of IDEX in a report on Wednesday, January 31st. Ten investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. IDEX presently has an average rating of “Hold” and a consensus target price of $137.56.
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IDEX Company Profile
IDEX Corporation (IDEX) operates an applied solutions business that sells pumps, flow meters and other fluidics systems, and components and engineered products. The Company operates through three segments: Fluid & Metering Technologies (FMT), Health & Science Technologies (HST) and Fire & Safety/Diversified Products (FSDP).
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