National Bank of Canada FI Reduces Position in IDEX Co. (NYSE:IEX)

National Bank of Canada FI trimmed its position in IDEX Co. (NYSE:IEX) by 9.1% during the 4th quarter, Holdings Channel reports. The institutional investor owned 35,875 shares of the industrial products company’s stock after selling 3,608 shares during the period. National Bank of Canada FI’s holdings in IDEX were worth $7,508,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in IEX. Jones Financial Companies Lllp increased its position in shares of IDEX by 35.2% in the fourth quarter. Jones Financial Companies Lllp now owns 407 shares of the industrial products company’s stock valued at $85,000 after acquiring an additional 106 shares during the period. Assetmark Inc. increased its holdings in IDEX by 129.1% during the 4th quarter. Assetmark Inc. now owns 417 shares of the industrial products company’s stock valued at $87,000 after purchasing an additional 235 shares during the period. BankPlus Trust Department purchased a new stake in IDEX in the 4th quarter worth approximately $123,000. EverSource Wealth Advisors LLC grew its position in shares of IDEX by 49.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 590 shares of the industrial products company’s stock worth $123,000 after buying an additional 196 shares during the last quarter. Finally, GAMMA Investing LLC increased its stake in shares of IDEX by 416.0% during the fourth quarter. GAMMA Investing LLC now owns 614 shares of the industrial products company’s stock valued at $129,000 after buying an additional 495 shares during the period. 97.96% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

IEX has been the topic of several recent analyst reports. DA Davidson cut their price target on shares of IDEX from $225.00 to $215.00 and set a “neutral” rating on the stock in a report on Wednesday, February 19th. Royal Bank of Canada cut 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. Citigroup lowered their price objective 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. Finally, Stifel Nicolaus upped their target price on IDEX from $244.00 to $256.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $241.71.

IDEX Price Performance

Shares of IEX opened at $162.33 on Friday. The firm’s 50-day simple moving average is $192.73 and its two-hundred day simple moving average is $208.52. IDEX Co. has a fifty-two week low of $160.13 and a fifty-two week high of $241.97. The stock has a market cap of $12.26 billion, a PE ratio of 24.41, a price-to-earnings-growth ratio of 1.98 and a beta of 1.05. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.85 and a current ratio of 2.53.

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