Duff & Phelps Investment Management Co. Trims Stock Holdings in IDEX Co. (NYSE:IEX)

Duff & Phelps Investment Management Co. cut its holdings in shares of IDEX Co. (NYSE:IEX) by 2.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 44,191 shares of the industrial products company’s stock after selling 1,133 shares during the period. Duff & Phelps Investment Management Co. owned 0.06% of IDEX worth $9,249,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Norges Bank acquired a new position in IDEX in the fourth quarter valued at $217,658,000. Blair William & Co. IL increased its holdings in shares of IDEX by 7.0% in the fourth quarter. Blair William & Co. IL now owns 3,562 shares of the industrial products company’s stock valued at $746,000 after purchasing an additional 232 shares during the period. AssuredPartners Investment Advisors LLC purchased a new stake in shares of IDEX during the fourth quarter worth approximately $386,000. UniSuper Management Pty Ltd lifted its holdings in shares of IDEX by 11.4% during the fourth quarter. UniSuper Management Pty Ltd now owns 9,933 shares of the industrial products company’s stock worth $2,079,000 after purchasing an additional 1,017 shares during the period. Finally, Vanguard Group Inc. grew its position in IDEX by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 9,306,008 shares of the industrial products company’s stock valued at $1,947,654,000 after buying an additional 63,432 shares during the last quarter. 97.96% of the stock is owned by institutional investors and hedge funds.

IDEX Stock Down 0.4 %

IEX stock opened at $184.02 on Friday. The company’s 50 day simple moving average is $197.86 and its 200-day simple moving average is $209.43. The firm has a market capitalization of $13.95 billion, a PE ratio of 27.67, a P/E/G ratio of 1.98 and a beta of 0.99. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.53 and a quick ratio of 1.85. IDEX Co. has a 12 month low of $177.71 and a 12 month high of $245.70.

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

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. 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 report on Thursday, February 6th. Stifel Nicolaus increased their target price on IDEX from $244.00 to $256.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. DA Davidson dropped their price objective on IDEX from $225.00 to $215.00 and set a “neutral” rating on the stock in a report on Wednesday, February 19th. Finally, Citigroup decreased their target price on shares of IDEX from $269.00 to $267.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, IDEX currently has a consensus rating of “Moderate Buy” and an average target price of $241.71.

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.