JPMorgan Chase & Co. Cuts Stock Position in IDEX Co. (NYSE:IEX)

JPMorgan Chase & Co. decreased its holdings in IDEX Co. (NYSE:IEX) by 10.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 263,232 shares of the industrial products company’s stock after selling 32,342 shares during the quarter. JPMorgan Chase & Co.’s holdings in IDEX were worth $55,092,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Bleakley Financial Group LLC increased its stake in shares of IDEX by 4.1% during the fourth quarter. Bleakley Financial Group LLC now owns 1,214 shares of the industrial products company’s stock worth $254,000 after buying an additional 48 shares during the period. Albert D Mason Inc. raised its holdings in shares of IDEX by 1.3% in the 4th quarter. Albert D Mason Inc. now owns 4,532 shares of the industrial products company’s stock valued at $948,000 after purchasing an additional 56 shares in the last quarter. Diversified Trust Co raised its holdings in shares of IDEX by 1.0% in the 4th quarter. Diversified Trust Co now owns 6,210 shares of the industrial products company’s stock valued at $1,300,000 after purchasing an additional 59 shares in the last quarter. Blackston Financial Advisory Group LLC grew its stake in shares of IDEX by 2.7% during the fourth quarter. Blackston Financial Advisory Group LLC now owns 2,299 shares of the industrial products company’s stock worth $481,000 after purchasing an additional 60 shares in the last quarter. Finally, Signal Advisors Wealth LLC increased its holdings in IDEX by 3.6% in the fourth quarter. Signal Advisors Wealth LLC now owns 1,822 shares of the industrial products company’s stock valued at $381,000 after buying an additional 63 shares during the last quarter. Institutional investors and hedge funds own 97.96% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Stifel Nicolaus upped their price objective on IDEX from $244.00 to $256.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. DA Davidson lowered their price target on IDEX from $225.00 to $215.00 and set a “neutral” rating for the company in a report on Wednesday, February 19th. Royal Bank of Canada dropped their price target on shares of IDEX from $256.00 to $245.00 and set an “outperform” rating on the stock in a research note on Thursday, February 6th. Finally, Citigroup reduced their price objective on shares of IDEX from $269.00 to $267.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $241.71.

IDEX Price Performance

Shares of NYSE IEX opened at $162.33 on Friday. The company has a current ratio of 2.53, a quick ratio of 1.85 and a debt-to-equity ratio of 0.49. The stock has a market cap of $12.26 billion, a P/E ratio of 24.41, a P/E/G ratio of 1.98 and a beta of 1.05. The stock has a 50 day moving average of $192.73 and a two-hundred day moving average of $208.52. IDEX Co. has a twelve month low of $160.13 and a twelve month high of $241.97.

IDEX (NYSE:IEX) last issued its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $2.04 earnings per share for the quarter, topping 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%. On average, research analysts forecast that IDEX Co. will post 8.26 earnings per share 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.