Skandinaviska Enskilda Banken AB publ Sells 100 Shares of IDEX Co. (NYSE:IEX)

Skandinaviska Enskilda Banken AB publ cut its stake in IDEX Co. (NYSE:IEX) by 0.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,003 shares of the industrial products company’s stock after selling 100 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in IDEX were worth $3,342,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. State Street Corp lifted its position in IDEX by 0.5% in the third quarter. State Street Corp now owns 3,017,976 shares of the industrial products company’s stock worth $647,356,000 after buying an additional 15,077 shares during the last quarter. Wellington Management Group LLP lifted its position in IDEX by 108.4% in the third quarter. Wellington Management Group LLP now owns 2,830,929 shares of the industrial products company’s stock worth $607,234,000 after buying an additional 1,472,456 shares during the last quarter. Geode Capital Management LLC increased its stake in IDEX by 1.3% in the third quarter. Geode Capital Management LLC now owns 1,891,175 shares of the industrial products company’s stock worth $404,339,000 after purchasing an additional 23,388 shares during the period. Champlain Investment Partners LLC increased its stake 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 worth $262,479,000 after purchasing an additional 273,460 shares during the period. Finally, Barclays PLC increased its stake in IDEX by 1.2% in the third quarter. Barclays PLC now owns 1,177,645 shares of the industrial products company’s stock worth $252,603,000 after purchasing an additional 14,360 shares during the period. 97.96% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Stifel Nicolaus increased their target price on IDEX from $244.00 to $256.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. DA Davidson reduced their target price on IDEX from $225.00 to $215.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 19th. Citigroup reduced their target price on IDEX from $269.00 to $267.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Finally, Royal Bank of Canada reduced their target price on IDEX from $256.00 to $245.00 and set an “outperform” rating on the stock in a research note on Thursday, February 6th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $241.71.

IDEX Stock Performance

Shares of IDEX stock opened at $182.47 on Monday. The firm 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. 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 Co. has a 12 month low of $177.71 and a 12 month high of $246.36. The stock’s fifty day moving average price is $202.65 and its 200-day moving average price is $210.65.

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 return on equity of 16.08% and a net margin of 15.45%. On average, equities research analysts expect 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.