IDEX Co. (NYSE:IEX) Shares Sold by Prudential Financial Inc.

Prudential Financial Inc. lowered its stake in shares of IDEX Co. (NYSE:IEX) by 14.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 40,154 shares of the industrial products company’s stock after selling 6,700 shares during the period. Prudential Financial Inc. owned 0.05% of IDEX worth $8,911,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in shares of IDEX by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 9,306,008 shares of the industrial products company’s stock valued at $1,947,654,000 after purchasing an additional 63,432 shares during the period. State Street Corp grew its stake in shares of IDEX by 0.5% in the 3rd quarter. State Street Corp now owns 3,017,976 shares of the industrial products company’s stock valued at $647,356,000 after buying an additional 15,077 shares during the period. Wellington Management Group LLP increased its holdings in shares of IDEX by 108.4% during the 3rd 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 raised its position in shares of IDEX by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,891,175 shares of the industrial products company’s stock valued at $404,339,000 after buying an additional 23,388 shares during the period. Finally, Barclays PLC lifted its holdings in IDEX by 1.2% in the third quarter. Barclays PLC now owns 1,177,645 shares of the industrial products company’s stock valued at $252,603,000 after acquiring an additional 14,360 shares during the last quarter. 97.96% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

IEX has been the topic of a number of research analyst reports. 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 report on Wednesday, February 19th. Royal Bank of Canada decreased their target price on shares of IDEX from $256.00 to $245.00 and set an “outperform” rating on the stock in a research report on Thursday, February 6th. Citigroup dropped their price target 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. Finally, Stifel Nicolaus upped their price objective on shares of 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 issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $241.71.

IDEX Price Performance

Shares of IEX opened at $180.80 on Friday. The company has a quick ratio of 1.85, a current ratio of 2.53 and a debt-to-equity ratio of 0.49. IDEX Co. has a fifty-two week low of $177.71 and a fifty-two week high of $244.11. The company has a market cap of $13.66 billion, a P/E ratio of 27.19, a PEG ratio of 1.98 and a beta of 0.99. The firm’s 50 day moving average price is $197.16 and its 200 day moving average price is $209.40.

IDEX (NYSE:IEX) last announced its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $2.04 earnings per share (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, research analysts forecast 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.