Truist Financial Corp Sells 736 Shares of IDEX Co. (NYSE:IEX)

Truist Financial Corp trimmed its position in IDEX Co. (NYSE:IEX) by 1.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 48,891 shares of the industrial products company’s stock after selling 736 shares during the period. Truist Financial Corp’s holdings in IDEX were worth $10,232,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the company. Studio Investment Management LLC lifted its stake in shares of IDEX by 4.9% in the 3rd quarter. Studio Investment Management LLC now owns 955 shares of the industrial products company’s stock valued at $205,000 after acquiring an additional 45 shares during the last quarter. Bleakley Financial Group LLC lifted its stake in shares of IDEX by 4.1% in the 4th quarter. Bleakley Financial Group LLC now owns 1,214 shares of the industrial products company’s stock valued at $254,000 after acquiring an additional 48 shares during the last quarter. Albert D Mason Inc. lifted its stake in shares of IDEX by 1.3% in the 4th quarter. Albert D Mason Inc. now owns 4,532 shares of the industrial products company’s stock valued at $948,000 after acquiring an additional 56 shares during the last quarter. Catalyst Capital Advisors LLC lifted its stake in shares of IDEX by 73.8% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 139 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 59 shares during the last quarter. Finally, Diversified Trust Co lifted its stake in shares of IDEX by 1.0% in the 4th quarter. Diversified Trust Co now owns 6,210 shares of the industrial products company’s stock valued at $1,300,000 after acquiring an additional 59 shares during the last quarter. 97.96% of the stock is currently owned by institutional investors.

IDEX Stock Performance

IEX stock opened at $195.92 on Friday. The stock has a 50-day moving average price of $210.29 and a 200-day moving average price of $211.39. IDEX Co. has a 1-year low of $189.51 and a 1-year high of $246.36. The company has a current ratio of 2.53, a quick ratio of 1.85 and a debt-to-equity ratio of 0.49. The firm has a market cap of $14.83 billion, a PE ratio of 29.46, a price-to-earnings-growth ratio of 1.97 and a beta of 0.97.

IDEX (NYSE:IEX) last posted its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $2.04 earnings per share for the quarter, topping 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%. As a group, equities research analysts expect that IDEX Co. will post 8.31 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages recently issued reports on IEX. Stifel Nicolaus raised their target price on 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 target price on IDEX from $256.00 to $245.00 and set an “outperform” rating for the company in a research report on Thursday, February 6th. Robert W. Baird lowered their target price on IDEX from $245.00 to $241.00 and set an “outperform” rating for the company in a research report on Thursday, October 31st. Citigroup lowered their target price on IDEX from $269.00 to $267.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Finally, DA Davidson lowered their target price on IDEX from $225.00 to $215.00 and set a “neutral” rating for the company in a research report on Wednesday. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $241.71.

IDEX 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.