Glenview Trust co Has $1.36 Million Stock Holdings in IDEX Co. (NYSE:IEX)

Glenview Trust co boosted its stake in shares of IDEX Co. (NYSE:IEX) by 2.1% during the fourth quarter, Holdings Channel reports. The fund owned 6,508 shares of the industrial products company’s stock after acquiring an additional 135 shares during the period. Glenview Trust co’s holdings in IDEX were worth $1,362,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Wellington Management Group LLP increased its stake in shares of IDEX by 108.4% in 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 buying an additional 1,472,456 shares during the period. Champlain Investment Partners LLC boosted its holdings in IDEX by 28.8% in the third quarter. Champlain Investment Partners LLC now owns 1,223,676 shares of the industrial products company’s stock valued at $262,479,000 after acquiring an additional 273,460 shares during the last quarter. Allianz Asset Management GmbH increased its position in IDEX by 133.2% in the fourth 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 holdings in 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 last quarter. Finally, Raymond James Financial Inc. acquired a new position in IDEX during the 4th quarter valued at about $35,375,000. Institutional investors and hedge funds own 97.96% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on IEX. Royal Bank of Canada lowered their price target on shares of IDEX from $256.00 to $245.00 and set an “outperform” rating for the company in a research report on Thursday, February 6th. Citigroup lowered their target price on shares of IDEX from $269.00 to $267.00 and set a “buy” rating for the company in a report on Monday, January 13th. DA Davidson reduced their price target on IDEX from $225.00 to $215.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 19th. Finally, Stifel Nicolaus upped their price objective on IDEX from $244.00 to $256.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Three research 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 an average price target of $241.71.

IDEX Price Performance

IEX opened at $182.47 on Monday. The company has a fifty day simple moving average of $202.65 and a 200 day simple moving average of $210.65. The company has a quick ratio of 1.85, a current ratio of 2.53 and a debt-to-equity ratio of 0.49. The stock has a market cap of $13.83 billion, a P/E ratio of 27.44, a P/E/G ratio of 1.98 and a beta of 0.99. IDEX Co. has a 12 month low of $177.71 and a 12 month high of $246.36.

IDEX (NYSE:IEX) last announced its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $2.04 earnings per share (EPS) for the quarter, topping 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%. On average, research analysts expect that IDEX Co. will post 8.26 EPS for the current year.

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.