Avantax Advisory Services Inc. Sells 167 Shares of IDEX Co. (NYSE:IEX)

Avantax Advisory Services Inc. lowered its stake in shares of IDEX Co. (NYSE:IEX) by 11.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,279 shares of the industrial products company’s stock after selling 167 shares during the quarter. Avantax Advisory Services Inc.’s holdings in IDEX were worth $268,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. State Street Corp boosted its stake in IDEX by 0.5% during the third quarter. State Street Corp now owns 3,017,976 shares of the industrial products company’s stock worth $647,356,000 after buying an additional 15,077 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of IDEX by 108.4% in the 3rd quarter. Wellington Management Group LLP now owns 2,830,929 shares of the industrial products company’s stock valued at $607,234,000 after purchasing an additional 1,472,456 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of IDEX by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,891,175 shares of the industrial products company’s stock worth $404,339,000 after purchasing an additional 23,388 shares during the last quarter. Barclays PLC increased its position in shares of IDEX by 1.2% during the 3rd quarter. Barclays PLC now owns 1,177,645 shares of the industrial products company’s stock worth $252,603,000 after purchasing an additional 14,360 shares in the last quarter. Finally, Nordea Investment Management AB grew its position in IDEX by 5.3% during the 4th quarter. Nordea Investment Management AB now owns 862,625 shares of the industrial products company’s stock worth $181,272,000 after acquiring an additional 43,786 shares during the last quarter. 97.96% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently issued reports on IEX. Stifel Nicolaus upped their price target on shares of IDEX from $244.00 to $256.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. DA Davidson decreased their price target on shares of IDEX from $225.00 to $215.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 19th. Royal Bank of Canada dropped 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. Finally, Citigroup decreased their price objective on IDEX from $269.00 to $267.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, IDEX has an average rating of “Moderate Buy” and a consensus target price of $241.71.

IDEX Stock Down 0.4 %

Shares of NYSE IEX opened at $184.33 on Wednesday. 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 Co. has a 52-week low of $177.71 and a 52-week high of $245.70. The firm has a 50 day moving average price of $199.12 and a 200 day moving average price of $209.78. The stock has a market cap of $13.97 billion, a P/E ratio of 27.72, a P/E/G ratio of 1.98 and a beta of 0.99.

IDEX (NYSE:IEX) last posted its earnings results on Tuesday, February 4th. The industrial products company reported $2.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.03 by $0.01. IDEX had a return on equity of 16.08% and a net margin of 15.45%. Analysts expect that IDEX Co. will post 8.26 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.