Prudential PLC Decreases Stake in IDEX Co. (NYSE:IEX)

Prudential PLC lessened its holdings in IDEX Co. (NYSE:IEX) by 14.6% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 42,045 shares of the industrial products company’s stock after selling 7,182 shares during the period. Prudential PLC’s holdings in IDEX were worth $8,800,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of IEX. Bleakley Financial Group LLC grew its stake in IDEX by 4.1% in the 4th quarter. Bleakley Financial Group LLC now owns 1,214 shares of the industrial products company’s stock valued at $254,000 after purchasing an additional 48 shares during the period. Albert D Mason Inc. grew its position in IDEX by 1.3% during the fourth quarter. Albert D Mason Inc. now owns 4,532 shares of the industrial products company’s stock valued at $948,000 after buying an additional 56 shares during the period. Diversified Trust Co increased its holdings in IDEX by 1.0% during the fourth quarter. Diversified Trust Co now owns 6,210 shares of the industrial products company’s stock worth $1,300,000 after buying an additional 59 shares during the last quarter. Blackston Financial Advisory Group LLC raised its position in IDEX by 2.7% in the fourth quarter. Blackston Financial Advisory Group LLC now owns 2,299 shares of the industrial products company’s stock worth $481,000 after acquiring an additional 60 shares during the period. Finally, Signal Advisors Wealth LLC boosted its stake in IDEX by 3.6% in the fourth quarter. Signal Advisors Wealth LLC now owns 1,822 shares of the industrial products company’s stock valued at $381,000 after acquiring an additional 63 shares during the last quarter. 97.96% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Stifel Nicolaus upped their price objective on IDEX from $244.00 to $256.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Citigroup cut their price target on IDEX from $269.00 to $267.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Royal Bank of Canada lowered their price objective on IDEX from $256.00 to $245.00 and set an “outperform” rating on the stock in a research note on Thursday, February 6th. Finally, DA Davidson cut their target price on shares of IDEX from $225.00 to $215.00 and set a “neutral” rating for the company in a research report on Wednesday, February 19th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $241.71.

IDEX Trading Down 3.8 %

Shares of IDEX stock opened at $162.33 on Friday. The company’s 50-day moving average price is $192.73 and its 200-day moving average price is $208.49. The company has a market cap of $12.26 billion, a price-to-earnings ratio of 24.41, a PEG ratio of 1.98 and a beta of 1.05. IDEX Co. has a 12-month low of $160.13 and a 12-month high of $241.97. 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 (NYSE:IEX) last announced its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $2.04 EPS for the quarter, beating the consensus estimate of $2.03 by $0.01. IDEX had a net margin of 15.45% and a return on equity of 16.08%. On average, equities analysts expect that IDEX Co. will post 8.26 earnings per share for the current fiscal 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.