L. Roy Papp & Associates LLP Sells 535 Shares of IDEX Co. (NYSE:IEX)

L. Roy Papp & Associates LLP lowered its stake in IDEX Co. (NYSE:IEX) by 3.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,165 shares of the industrial products company’s stock after selling 535 shares during the quarter. L. Roy Papp & Associates LLP’s holdings in IDEX were worth $2,965,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Studio Investment Management LLC boosted its stake in shares of IDEX by 4.9% in the 3rd quarter. Studio Investment Management LLC now owns 955 shares of the industrial products company’s stock worth $205,000 after buying an additional 45 shares during the last quarter. Bleakley Financial Group LLC lifted its holdings in IDEX by 4.1% in the fourth quarter. Bleakley Financial Group LLC now owns 1,214 shares of the industrial products company’s stock valued at $254,000 after acquiring an additional 48 shares during the period. Albert D Mason Inc. lifted its holdings in IDEX by 1.3% in the fourth quarter. Albert D Mason Inc. now owns 4,532 shares of the industrial products company’s stock valued at $948,000 after acquiring an additional 56 shares during the period. Catalyst Capital Advisors LLC boosted its position in IDEX by 73.8% in the third quarter. Catalyst Capital Advisors LLC now owns 139 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 59 shares during the last quarter. Finally, Diversified Trust Co grew its stake in shares of IDEX by 1.0% during the 4th quarter. Diversified Trust Co now owns 6,210 shares of the industrial products company’s stock valued at $1,300,000 after purchasing an additional 59 shares during the period. Institutional investors own 97.96% of the company’s stock.

Analyst Ratings Changes

IEX has been the topic of several recent research reports. Stifel Nicolaus increased their price objective on shares of IDEX from $244.00 to $256.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Citigroup decreased their price target 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. Royal Bank of Canada cut their price objective 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. Finally, Robert W. Baird decreased their target price on IDEX from $245.00 to $241.00 and set an “outperform” rating on the stock in a report on Thursday, October 31st. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, IDEX has an average rating of “Moderate Buy” and a consensus target price of $241.00.

IDEX Stock Down 0.8 %

Shares of IEX stock opened at $194.90 on Wednesday. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.53 and a quick ratio of 2.11. IDEX Co. has a one year low of $189.51 and a one year high of $246.36. The company’s fifty day moving average price is $214.86 and its 200-day moving average price is $211.87. The company has a market capitalization of $14.76 billion, a price-to-earnings ratio of 29.31, a PEG ratio of 1.98 and a beta of 0.97.

IDEX (NYSE:IEX) last posted its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $2.04 EPS 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%. Sell-side analysts expect that IDEX Co. will post 8.37 EPS for the current fiscal year.

About IDEX

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.