IDEX Co. (NYSE:IEX) Shares Sold by Magnetar Financial LLC

Magnetar Financial LLC reduced its position in shares of IDEX Co. (NYSE:IEX) by 78.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,241 shares of the industrial products company’s stock after selling 18,959 shares during the period. Magnetar Financial LLC’s holdings in IDEX were worth $1,097,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in IEX. Wellington Management Group LLP raised its position in shares of IDEX by 108.4% during the 3rd quarter. Wellington Management Group LLP now owns 2,830,929 shares of the industrial products company’s stock valued at $607,234,000 after acquiring an additional 1,472,456 shares in the last quarter. Champlain Investment Partners LLC raised its position in shares of IDEX by 28.8% during the 3rd quarter. Champlain Investment Partners LLC now owns 1,223,676 shares of the industrial products company’s stock worth $262,479,000 after purchasing an additional 273,460 shares during the period. Allianz Asset Management GmbH raised its position in shares of IDEX by 133.2% during the 4th quarter. Allianz Asset Management GmbH now owns 406,637 shares of the industrial products company’s stock worth $85,105,000 after purchasing an additional 232,255 shares during the period. Corient Private Wealth LLC raised its position in shares of IDEX by 237.1% during the 4th quarter. Corient Private Wealth LLC now owns 256,769 shares of the industrial products company’s stock worth $53,740,000 after purchasing an additional 180,601 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in shares of IDEX during the 4th quarter worth approximately $35,375,000. 97.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

IEX has been the topic of several analyst reports. Citigroup dropped their price target on shares of IDEX from $269.00 to $267.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Stifel Nicolaus raised their target price on shares of IDEX from $244.00 to $256.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. DA Davidson lowered their target price on shares of IDEX from $225.00 to $215.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 19th. Finally, Royal Bank of Canada lowered their target price on shares of IDEX from $256.00 to $245.00 and set an “outperform” rating on the stock in a research note on Thursday, February 6th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $241.71.

IDEX Trading Down 0.9 %

Shares of IEX opened at $182.02 on Friday. The company has a current ratio of 2.53, a quick ratio of 1.85 and a debt-to-equity ratio of 0.49. IDEX Co. has a 1-year low of $177.71 and a 1-year high of $246.36. The stock has a market capitalization of $13.79 billion, a P/E ratio of 27.37, a P/E/G ratio of 1.98 and a beta of 0.99. The business’s 50-day moving average price is $200.23 and its 200 day moving average price is $209.82.

IDEX (NYSE:IEX) last released its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $2.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.03 by $0.01. IDEX had a net margin of 15.45% and a return on equity of 16.08%. Analysts expect that IDEX Co. will post 8.26 earnings per share for the current year.

IDEX 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.