Independent Advisor Alliance Decreases Position in IDEX Co. (NYSE:IEX)

Independent Advisor Alliance decreased its position in IDEX Co. (NYSE:IEX) by 20.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,346 shares of the industrial products company’s stock after selling 3,430 shares during the quarter. Independent Advisor Alliance’s holdings in IDEX were worth $2,793,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of IEX. Wellington Management Group LLP increased its position in shares of 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 valued at $607,234,000 after acquiring an additional 1,472,456 shares during the period. Champlain Investment Partners LLC increased its position in shares of 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 valued at $262,479,000 after acquiring an additional 273,460 shares during the period. Allianz Asset Management GmbH increased its position in shares of IDEX by 133.2% in the fourth quarter. Allianz Asset Management GmbH now owns 406,637 shares of the industrial products company’s stock valued at $85,105,000 after acquiring an additional 232,255 shares during the period. Raymond James Financial Inc. purchased a new position in shares of IDEX in the fourth quarter valued at about $35,375,000. Finally, Johnson Investment Counsel Inc. increased its position in shares of IDEX by 178.3% in the fourth quarter. Johnson Investment Counsel Inc. now owns 254,842 shares of the industrial products company’s stock valued at $53,336,000 after acquiring an additional 163,283 shares during the period. Hedge funds and other institutional investors own 97.96% of the company’s stock.

IDEX Trading Down 1.5 %

NYSE:IEX opened at $181.96 on Thursday. IDEX Co. has a one year low of $181.09 and a one year high of $246.36. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.53 and a quick ratio of 1.85. The company’s 50-day simple moving average is $203.70 and its 200 day simple moving average is $210.93. The firm has a market capitalization of $13.79 billion, a P/E ratio of 27.36, a PEG ratio of 1.98 and a beta of 0.99.

IDEX (NYSE:IEX) last posted its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $2.04 EPS for the quarter, topping the consensus estimate of $2.03 by $0.01. IDEX had a net margin of 15.45% and a return on equity of 16.08%. As a group, analysts forecast that IDEX Co. will post 8.26 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Citigroup decreased their price objective 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 reduced their price target 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. DA Davidson reduced their price target on shares of IDEX from $225.00 to $215.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 19th. Finally, Stifel Nicolaus boosted their price target on shares of IDEX from $244.00 to $256.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $241.71.

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.