Bessemer Group Inc. Lowers Holdings in IDEX Co. (NYSE:IEX)

Bessemer Group Inc. lowered its position in shares of IDEX Co. (NYSE:IEX) by 37.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 660 shares of the industrial products company’s stock after selling 396 shares during the period. Bessemer Group Inc.’s holdings in IDEX were worth $137,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in IEX. Jones Financial Companies Lllp raised its holdings in shares of IDEX by 35.2% in the 4th quarter. Jones Financial Companies Lllp now owns 407 shares of the industrial products company’s stock valued at $85,000 after purchasing an additional 106 shares in the last quarter. Assetmark Inc. increased its holdings in IDEX by 129.1% during the fourth quarter. Assetmark Inc. now owns 417 shares of the industrial products company’s stock valued at $87,000 after buying an additional 235 shares during the period. BankPlus Trust Department bought a new position in IDEX in the fourth quarter worth approximately $123,000. EverSource Wealth Advisors LLC lifted its holdings in IDEX by 49.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 590 shares of the industrial products company’s stock worth $123,000 after buying an additional 196 shares during the period. Finally, GAMMA Investing LLC boosted its position in IDEX by 416.0% during the 4th quarter. GAMMA Investing LLC now owns 614 shares of the industrial products company’s stock valued at $129,000 after acquiring an additional 495 shares in the last quarter. 97.96% of the stock is currently owned by institutional investors.

IDEX Stock Down 1.8 %

IEX stock opened at $164.28 on Thursday. The stock has a market capitalization of $12.41 billion, a PE ratio of 24.70, a price-to-earnings-growth ratio of 1.98 and a beta of 1.05. IDEX Co. has a 52 week low of $153.36 and a 52 week high of $238.22. The company has a quick ratio of 1.85, a current ratio of 2.53 and a debt-to-equity ratio of 0.49. The firm has a 50 day moving average of $183.35 and a 200 day moving average of $205.55.

IDEX (NYSE:IEX) last posted its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $2.04 EPS for the quarter, topping the consensus estimate of $2.03 by $0.01. IDEX had a net margin of 15.45% and a return on equity of 16.08%. Sell-side analysts forecast that IDEX Co. will post 8.26 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on IEX shares. DA Davidson decreased their price objective on IDEX from $225.00 to $215.00 and set a “neutral” rating for the company in a research note on Wednesday, February 19th. Royal Bank of Canada decreased their price target 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. Stifel Nicolaus lowered their price target on shares of IDEX from $256.00 to $192.00 and set a “buy” rating on the stock in a report on Monday. Finally, Citigroup reduced their price objective on shares of IDEX from $264.00 to $201.00 and set a “buy” rating for the company in a research note on Monday. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, IDEX presently has a consensus rating of “Moderate Buy” and an average price target of $223.14.

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.