Gabelli Funds LLC Sells 10,100 Shares of IDEX Co. (NYSE:IEX)

Gabelli Funds LLC lowered its stake in IDEX Co. (NYSE:IEX) by 4.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 201,300 shares of the industrial products company’s stock after selling 10,100 shares during the period. Gabelli Funds LLC owned approximately 0.27% of IDEX worth $42,130,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Jones Financial Companies Lllp increased its holdings in IDEX by 35.2% during the 4th quarter. Jones Financial Companies Lllp now owns 407 shares of the industrial products company’s stock valued at $85,000 after purchasing an additional 106 shares during the period. Assetmark Inc. increased its stake in shares of IDEX by 129.1% during the fourth quarter. Assetmark Inc. now owns 417 shares of the industrial products company’s stock valued at $87,000 after buying an additional 235 shares during the period. Canada Post Corp Registered Pension Plan purchased a new stake in IDEX in the fourth quarter worth $105,000. BankPlus Trust Department purchased a new position in IDEX during the 4th quarter valued at $123,000. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of IDEX by 49.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 590 shares of the industrial products company’s stock valued at $123,000 after purchasing an additional 196 shares in the last quarter. 97.96% of the stock is currently owned by institutional investors.

IDEX Trading Up 0.7 %

Shares of NYSE IEX opened at $169.74 on Tuesday. IDEX Co. has a fifty-two week low of $153.36 and a fifty-two week high of $238.22. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.85 and a current ratio of 2.53. The company has a market cap of $12.82 billion, a price-to-earnings ratio of 25.52, a PEG ratio of 1.98 and a beta of 1.05. The business’s 50 day moving average price is $184.61 and its 200-day moving average price is $206.10.

IDEX (NYSE:IEX) last announced its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $2.04 earnings per share (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%. On average, sell-side analysts expect that IDEX Co. will post 8.26 earnings per share for the current year.

Wall Street Analyst Weigh In

IEX has been the subject of a number of research reports. DA Davidson decreased their price objective on IDEX from $225.00 to $215.00 and set a “neutral” rating for the company in a report on Wednesday, February 19th. Citigroup dropped their price objective on shares of IDEX from $264.00 to $201.00 and set a “buy” rating on the stock in a research note on Monday. Royal Bank of Canada lowered their target price on shares of IDEX from $256.00 to $245.00 and set an “outperform” rating for the company in a report on Thursday, February 6th. Finally, Stifel Nicolaus cut their price target on IDEX from $256.00 to $192.00 and set a “buy” rating on the stock in a research note on Monday. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, IDEX currently has an average rating of “Moderate Buy” and a consensus price target of $223.14.

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.