Sei Investments Co. Cuts Holdings in IDEX Co. (NYSE:IEX)

Sei Investments Co. reduced its position in shares of IDEX Co. (NYSE:IEX) by 0.2% during the 4th quarter, HoldingsChannel reports. The fund owned 137,633 shares of the industrial products company’s stock after selling 207 shares during the period. Sei Investments Co.’s holdings in IDEX were worth $28,807,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the business. Jones Financial Companies Lllp boosted its position in IDEX by 35.2% during the fourth quarter. Jones Financial Companies Lllp now owns 407 shares of the industrial products company’s stock worth $85,000 after purchasing an additional 106 shares in the last quarter. Brooklyn Investment Group purchased a new stake in shares of IDEX in the third quarter valued at approximately $86,000. Assetmark Inc. raised its stake in shares of IDEX by 129.1% during the 4th quarter. Assetmark Inc. now owns 417 shares of the industrial products company’s stock worth $87,000 after buying an additional 235 shares during the period. Fred Alger Management LLC purchased a new position in shares of IDEX during the 3rd quarter valued at approximately $89,000. Finally, Millburn Ridgefield Corp grew its stake in IDEX by 475.0% in the 3rd quarter. Millburn Ridgefield Corp now owns 460 shares of the industrial products company’s stock valued at $99,000 after acquiring an additional 380 shares during the period. 97.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

IDEX Trading Down 0.4 %

Shares of IDEX stock opened at $184.33 on Wednesday. The stock has a market cap of $13.97 billion, a P/E ratio of 27.72, a P/E/G ratio of 1.98 and a beta of 0.99. The stock’s 50 day simple moving average is $199.12 and its 200-day simple moving average is $209.78. IDEX Co. has a 1-year low of $177.71 and a 1-year high of $245.70. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.53 and a quick ratio of 1.85.

IDEX (NYSE:IEX) last announced its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $2.04 EPS for the quarter, topping 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 predict that IDEX Co. will post 8.26 EPS 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.