OLD National Bancorp IN Has $297,000 Position in IDEX Co. (NYSE:IEX)

OLD National Bancorp IN reduced its stake in shares of IDEX Co. (NYSE:IEX) by 20.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,366 shares of the industrial products company’s stock after selling 345 shares during the quarter. OLD National Bancorp IN’s holdings in IDEX were worth $297,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Impax Asset Management Group plc grew its position in shares of IDEX by 4.0% in the 4th quarter. Impax Asset Management Group plc now owns 2,190,741 shares of the industrial products company’s stock valued at $475,632,000 after purchasing an additional 84,502 shares during the period. Barclays PLC grew its position in shares of IDEX by 3.3% in the 3rd quarter. Barclays PLC now owns 1,143,583 shares of the industrial products company’s stock valued at $237,890,000 after purchasing an additional 36,928 shares during the period. Northern Trust Corp grew its position in shares of IDEX by 6.1% in the 3rd quarter. Northern Trust Corp now owns 785,716 shares of the industrial products company’s stock valued at $163,445,000 after purchasing an additional 45,120 shares during the period. Alecta Tjanstepension Omsesidigt boosted its position in IDEX by 420.8% during the 4th quarter. Alecta Tjanstepension Omsesidigt now owns 781,172 shares of the industrial products company’s stock worth $169,600,000 after acquiring an additional 631,172 shares during the last quarter. Finally, Fenimore Asset Management Inc. grew its stake in shares of IDEX by 3.9% during the 3rd quarter. Fenimore Asset Management Inc. now owns 773,412 shares of the industrial products company’s stock worth $160,885,000 after acquiring an additional 29,258 shares in the last quarter. 97.96% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Oppenheimer raised their price target on shares of IDEX from $245.00 to $252.00 and gave the stock an “outperform” rating in a research note on Thursday, April 18th. Citigroup raised their target price on shares of IDEX from $254.00 to $277.00 and gave the company a “buy” rating in a research note on Monday, April 8th. StockNews.com cut shares of IDEX from a “buy” rating to a “hold” rating in a research note on Wednesday. Robert W. Baird reduced their price objective on shares of IDEX from $260.00 to $256.00 and set an “outperform” rating for the company in a research report on Thursday. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $255.00 price objective on shares of IDEX in a research report on Thursday, March 21st. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $241.67.

IDEX Stock Down 0.6 %

IEX opened at $223.29 on Friday. IDEX Co. has a fifty-two week low of $183.76 and a fifty-two week high of $246.36. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.05 and a current ratio of 3.37. The company has a market capitalization of $16.90 billion, a P/E ratio of 29.38, a P/E/G ratio of 2.24 and a beta of 0.97. The stock has a fifty day moving average of $236.49 and a 200-day moving average of $216.60.

IDEX (NYSE:IEX) last posted its quarterly earnings results on Tuesday, April 23rd. The industrial products company reported $1.88 EPS for the quarter, beating analysts’ consensus estimates of $1.76 by $0.12. The business had revenue of $801.00 million during the quarter, compared to the consensus estimate of $807.52 million. IDEX had a return on equity of 17.60% and a net margin of 17.89%. IDEX’s revenue for the quarter was down 5.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.09 earnings per share. On average, equities analysts expect that IDEX Co. will post 8.34 EPS for the current year.

IDEX Company 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.