Truist Financial Corp Sells 7,294 Shares of IDEX Co. (NYSE:IEX)

Truist Financial Corp decreased its position in IDEX Co. (NYSE:IEX) by 11.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 58,624 shares of the industrial products company’s stock after selling 7,294 shares during the period. Truist Financial Corp owned 0.08% of IDEX worth $12,728,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in IEX. Planned Solutions Inc. bought a new stake in IDEX during the 4th quarter worth about $33,000. Compagnie Lombard Odier SCmA bought a new stake in shares of IDEX during the fourth quarter worth approximately $54,000. Cary Street Partners Investment Advisory LLC raised its stake in shares of IDEX by 30.9% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 339 shares of the industrial products company’s stock worth $71,000 after buying an additional 80 shares during the last quarter. Desjardins Global Asset Management Inc. raised its stake in shares of IDEX by 25.6% during the fourth quarter. Desjardins Global Asset Management Inc. now owns 388 shares of the industrial products company’s stock worth $84,000 after buying an additional 79 shares during the last quarter. Finally, Orion Capital Management LLC bought a new stake in shares of IDEX during the third quarter worth approximately $86,000. 97.96% of the stock is currently owned by institutional investors and hedge funds.

IDEX Stock Up 0.4 %

Shares of NYSE:IEX opened at $221.38 on Thursday. IDEX Co. has a 52 week low of $183.76 and a 52 week high of $246.36. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.45 and a current ratio of 3.37. The company has a market capitalization of $16.76 billion, a PE ratio of 29.13, a PEG ratio of 2.24 and a beta of 0.97. The company has a 50 day moving average price of $236.09 and a two-hundred day moving average price of $217.07.

IDEX (NYSE:IEX) last issued its quarterly earnings data on Tuesday, April 23rd. The industrial products company reported $1.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.76 by $0.12. IDEX had a net margin of 17.89% and a return on equity of 17.60%. The company had revenue of $801.00 million during the quarter, compared to the consensus estimate of $807.52 million. During the same quarter in the prior year, the firm earned $2.09 earnings per share. The firm’s revenue was down 5.3% compared to the same quarter last year. Analysts forecast that IDEX Co. will post 8.33 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on IEX. Oppenheimer boosted 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 boosted their price target on shares of IDEX from $254.00 to $277.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. StockNews.com downgraded shares of IDEX from a “buy” rating to a “hold” rating in a research note on Wednesday, April 24th. Royal Bank of Canada reissued an “outperform” rating and set a $255.00 price target on shares of IDEX in a research note on Thursday, March 21st. Finally, Stifel Nicolaus raised shares of IDEX from a “hold” rating to a “buy” rating and upped their target price for the company from $215.00 to $265.00 in a research note on Thursday, February 8th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $250.71.

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.