Glenmede Trust Co. NA reduced its stake in shares of IDEX Co. (NYSE:IEX) by 4.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,156 shares of the industrial products company’s stock after selling 817 shares during the quarter. Glenmede Trust Co. NA’s holdings in IDEX were worth $2,131,000 at the end of the most recent quarter.
Other large investors have also added to or reduced their stakes in the company. Assetmark Inc. bought a new position in shares of IDEX in the fourth quarter worth $118,000. Calton & Associates Inc. bought a new position in shares of IDEX in the fourth quarter worth $160,000. Advisor Group Inc. grew its stake in shares of IDEX by 166.3% in the fourth quarter. Advisor Group Inc. now owns 1,374 shares of the industrial products company’s stock worth $182,000 after purchasing an additional 858 shares in the last quarter. Stock Yards Bank & Trust Co. bought a new position in shares of IDEX in the fourth quarter worth $201,000. Finally, Community Bank N.A. bought a new position in shares of IDEX in the fourth quarter worth $203,000. 96.13% of the stock is owned by institutional investors.
Several research firms have recently issued reports on IEX. Zacks Investment Research cut IDEX from a “buy” rating to a “hold” rating in a research note on Monday, March 19th. BMO Capital Markets increased their price target on IDEX to $143.00 and gave the stock a “market perform” rating in a research note on Wednesday, January 31st. They noted that the move was a valuation call. Cowen reissued a “hold” rating and issued a $120.00 price target on shares of IDEX in a research note on Sunday, January 28th. SunTrust Banks increased their price target on IDEX to $145.00 in a research note on Thursday, February 1st. They noted that the move was a valuation call. Finally, ValuEngine raised IDEX from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Eleven analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. IDEX presently has a consensus rating of “Hold” and a consensus price target of $137.56.
IDEX (NYSE:IEX) last announced its earnings results on Monday, January 29th. The industrial products company reported $1.12 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.07 by $0.05. IDEX had a return on equity of 18.88% and a net margin of 14.74%. The business had revenue of $585.90 million during the quarter, compared to analysts’ expectations of $573.47 million. During the same quarter last year, the business posted $0.96 earnings per share. The company’s quarterly revenue was up 10.5% on a year-over-year basis. equities analysts forecast that IDEX Co. will post 5.07 EPS for the current fiscal year.
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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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