Wells Fargo & Company MN Has $3.79 Million Position in IDEX Co. (NYSE:IEX)

Wells Fargo & Company MN lowered its holdings in shares of IDEX Co. (NYSE:IEX) by 62.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 18,116 shares of the industrial products company’s stock after selling 30,300 shares during the period. Wells Fargo & Company MN’s holdings in IDEX were worth $3,791,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in IEX. Asset Management One Co. Ltd. boosted its stake in IDEX by 4.2% during the fourth quarter. Asset Management One Co. Ltd. now owns 30,250 shares of the industrial products company’s stock worth $6,386,000 after acquiring an additional 1,209 shares in the last quarter. Assetmark Inc. increased its position in IDEX by 129.1% in the 4th quarter. Assetmark Inc. now owns 417 shares of the industrial products company’s stock valued at $87,000 after buying an additional 235 shares in the last quarter. Covea Finance boosted its holdings in IDEX by 70.6% in the fourth quarter. Covea Finance now owns 14,500 shares of the industrial products company’s stock worth $3,035,000 after acquiring an additional 6,000 shares in the last quarter. Barclays PLC increased its holdings in shares of IDEX by 1.2% during the third quarter. Barclays PLC now owns 1,177,645 shares of the industrial products company’s stock valued at $252,603,000 after acquiring an additional 14,360 shares in the last quarter. Finally, Park Avenue Securities LLC lifted its holdings in shares of IDEX by 27.0% in the 4th quarter. Park Avenue Securities LLC now owns 2,330 shares of the industrial products company’s stock worth $488,000 after purchasing an additional 495 shares in the last quarter. 97.96% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

IEX has been the topic of a number of recent research reports. Stifel Nicolaus dropped their price objective on shares of IDEX from $256.00 to $192.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. 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 cut their target price on IDEX from $264.00 to $201.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Finally, Royal Bank of Canada cut their price objective on shares of IDEX from $256.00 to $245.00 and set an “outperform” rating on the stock in a report on Thursday, February 6th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, IDEX has a consensus rating of “Moderate Buy” and an average price target of $223.14.

IDEX Trading Down 1.8 %

Shares of IDEX stock opened at $160.94 on Tuesday. The firm has a market cap of $12.16 billion, a PE ratio of 24.20, a P/E/G ratio of 1.98 and a beta of 1.05. The stock has a fifty day moving average price of $181.42 and a 200-day moving average price of $204.43. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.53 and a quick ratio of 1.85. IDEX Co. has a 1 year low of $153.36 and a 1 year high of $238.22.

IDEX (NYSE:IEX) last released its earnings results on Tuesday, February 4th. The industrial products company reported $2.04 earnings per share 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%. Equities research analysts anticipate that IDEX Co. will post 8.26 EPS for the current 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.