Allspring Global Investments Holdings LLC Sells 20,192 Shares of IDEX Co. (NYSE:IEX)

Allspring Global Investments Holdings LLC trimmed its stake in IDEX Co. (NYSE:IEX) by 24.0% in the 4th quarter, Holdings Channel.com reports. The firm owned 63,790 shares of the industrial products company’s stock after selling 20,192 shares during the period. Allspring Global Investments Holdings LLC’s holdings in IDEX were worth $13,849,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. American Century Companies Inc. lifted its holdings in shares of IDEX by 34.2% in the 1st quarter. American Century Companies Inc. now owns 3,251 shares of the industrial products company’s stock worth $623,000 after acquiring an additional 829 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in IDEX in the first quarter worth about $1,058,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of IDEX by 6.6% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 10,173 shares of the industrial products company’s stock valued at $1,950,000 after buying an additional 630 shares during the period. Yousif Capital Management LLC raised its holdings in shares of IDEX by 3.5% in the first quarter. Yousif Capital Management LLC now owns 16,223 shares of the industrial products company’s stock worth $3,110,000 after buying an additional 555 shares during the period. Finally, Sei Investments Co. raised its holdings in shares of IDEX by 24.2% in the first quarter. Sei Investments Co. now owns 82,824 shares of the industrial products company’s stock worth $15,877,000 after buying an additional 16,117 shares during the period. Hedge funds and other institutional investors own 97.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on IEX shares. Stifel Nicolaus raised shares of IDEX from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $215.00 to $265.00 in a research note on Thursday, February 8th. Citigroup lifted their target price on IDEX from $254.00 to $277.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $255.00 price target on shares of IDEX in a research report on Thursday, March 21st. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $238.00.

IDEX Price Performance

Shares of NYSE IEX opened at $230.39 on Tuesday. IDEX Co. has a fifty-two week low of $183.76 and a fifty-two week high of $246.36. The company has a market cap of $17.44 billion, a PE ratio of 29.39, a P/E/G ratio of 2.32 and a beta of 0.97. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.05 and a current ratio of 2.89. The business has a 50-day simple moving average of $236.13 and a two-hundred day simple moving average of $215.58.

IDEX (NYSE:IEX) last released its earnings results on Tuesday, February 6th. The industrial products company reported $1.83 EPS for the quarter, topping analysts’ consensus estimates of $1.78 by $0.05. IDEX had a net margin of 18.21% and a return on equity of 18.56%. The company had revenue of $788.90 million during the quarter, compared to analysts’ expectations of $767.96 million. During the same period last year, the business earned $2.01 EPS. IDEX’s revenue for the quarter was down 2.7% on a year-over-year basis. As a group, equities analysts expect that IDEX Co. will post 8.35 EPS for the current fiscal year.

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.