Bank Julius Baer & Co. Ltd Zurich Lowers Holdings in IDEX Co. (NYSE:IEX)

Bank Julius Baer & Co. Ltd Zurich trimmed its position in IDEX Co. (NYSE:IEX) by 38.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,470 shares of the industrial products company’s stock after selling 1,511 shares during the quarter. Bank Julius Baer & Co. Ltd Zurich’s holdings in IDEX were worth $536,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. Commonwealth Equity Services LLC lifted its holdings in shares of IDEX by 1.3% in the 3rd quarter. Commonwealth Equity Services LLC now owns 4,289 shares of the industrial products company’s stock worth $892,000 after buying an additional 53 shares during the period. DB Fitzpatrick & Co Inc lifted its stake in shares of IDEX by 2.1% during the 3rd quarter. DB Fitzpatrick & Co Inc now owns 2,766 shares of the industrial products company’s stock worth $575,000 after purchasing an additional 56 shares during the last quarter. Jacobson & Schmitt Advisors LLC lifted its stake in shares of IDEX by 5.0% during the 3rd quarter. Jacobson & Schmitt Advisors LLC now owns 1,242 shares of the industrial products company’s stock worth $258,000 after purchasing an additional 59 shares during the last quarter. Guinness Asset Management LTD lifted its stake in shares of IDEX by 2.8% during the 3rd quarter. Guinness Asset Management LTD now owns 2,360 shares of the industrial products company’s stock worth $491,000 after purchasing an additional 65 shares during the last quarter. Finally, Desjardins Global Asset Management Inc. lifted its stake in shares of IDEX by 25.6% during the 4th quarter. Desjardins Global Asset Management Inc. now owns 388 shares of the industrial products company’s stock worth $84,000 after purchasing an additional 79 shares during the last quarter. 97.96% of the stock is currently owned by hedge funds and other institutional investors.

IDEX Trading Down 1.2 %

Shares of NYSE:IEX opened at $220.66 on Friday. The business’s 50-day moving average is $236.36 and its 200 day moving average is $216.75. IDEX Co. has a 1 year low of $183.76 and a 1 year high of $246.36. The firm has a market capitalization of $16.70 billion, a P/E ratio of 29.03, a P/E/G ratio of 2.20 and a beta of 0.97. The company has a debt-to-equity ratio of 0.37, a current ratio of 3.37 and a quick ratio of 2.05.

IDEX (NYSE:IEX) last announced its earnings results on Tuesday, April 23rd. The industrial products company reported $1.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.76 by $0.12. The company had revenue of $801.00 million for the quarter, compared to analyst estimates of $807.52 million. IDEX had a return on equity of 17.60% and a net margin of 17.89%. The firm’s quarterly revenue was down 5.3% compared to the same quarter last year. During the same period in the prior year, the company posted $2.09 EPS. On average, research analysts predict that IDEX Co. will post 8.33 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

IEX has been the subject of a number of analyst reports. Robert W. Baird decreased their price objective on IDEX from $260.00 to $256.00 and set an “outperform” rating for the company in a research note on Thursday. Oppenheimer upped their price objective on IDEX from $245.00 to $252.00 and gave the stock an “outperform” rating in a research note on Thursday, April 18th. Stifel Nicolaus upgraded IDEX from a “hold” rating to a “buy” rating and upped their price objective for the stock from $215.00 to $265.00 in a research note on Thursday, February 8th. Royal Bank of Canada restated an “outperform” rating and set a $255.00 price objective on shares of IDEX in a research note on Thursday, March 21st. Finally, Citigroup upped their target price on IDEX from $254.00 to $277.00 and gave the company a “buy” rating in a research report on Monday, April 8th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $241.67.

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.