IDEX Co. (NYSE:IEX) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. lowered its holdings in shares of IDEX Co. (NYSE:IEX) by 49.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 233 shares of the industrial products company’s stock after selling 224 shares during the period. Federated Hermes Inc.’s holdings in IDEX were worth $49,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Aster Capital Management DIFC Ltd acquired a new position in IDEX in the 4th quarter valued at about $710,000. Resona Asset Management Co. Ltd. acquired a new position in shares of IDEX in the fourth quarter valued at approximately $4,854,000. Nicolet Advisory Services LLC purchased a new stake in shares of IDEX during the fourth quarter worth approximately $202,000. Cinctive Capital Management LP acquired a new stake in shares of IDEX during the fourth quarter worth $419,000. Finally, Massachusetts Financial Services Co. MA grew its position in IDEX by 187.2% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 21,799 shares of the industrial products company’s stock valued at $4,562,000 after buying an additional 14,209 shares during the last quarter. 97.96% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

IEX has been the subject of a number of analyst reports. Royal Bank of Canada cut their price objective on shares of IDEX from $256.00 to $245.00 and set an “outperform” rating for the company in a research report on Thursday, February 6th. DA Davidson cut their price target on shares of IDEX from $225.00 to $215.00 and set a “neutral” rating for the company in a report on Wednesday, February 19th. Citigroup lowered their price objective on IDEX from $264.00 to $201.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Finally, Stifel Nicolaus cut their target price on IDEX from $256.00 to $192.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Three 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 a consensus rating of “Moderate Buy” and an average target price of $223.14.

IDEX Stock Down 0.2 %

IDEX stock opened at $163.77 on Friday. IDEX Co. has a fifty-two week low of $153.36 and a fifty-two week high of $238.22. The firm has a market capitalization of $12.37 billion, a price-to-earnings ratio of 24.63, a price-to-earnings-growth ratio of 1.98 and a beta of 1.05. The stock’s fifty day moving average is $182.08 and its two-hundred day moving average is $204.82. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.85 and a current ratio of 2.53.

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

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.