Phoenix Financial Ltd. Sells 63 Shares of IDEX Co. (NYSE:IEX)

Phoenix Financial Ltd. decreased its holdings in IDEX Co. (NYSE:IEX) by 2.7% in the fourth quarter, HoldingsChannel.com reports. The fund owned 2,271 shares of the industrial products company’s stock after selling 63 shares during the quarter. Phoenix Financial Ltd.’s holdings in IDEX were worth $475,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in IEX. Wellington Management Group LLP increased its holdings in shares of IDEX by 49.1% in the fourth quarter. Wellington Management Group LLP now owns 4,219,596 shares of the industrial products company’s stock worth $883,119,000 after purchasing an additional 1,388,667 shares during the last quarter. Norges Bank bought a new stake in IDEX in the 4th quarter worth approximately $217,658,000. Allianz Asset Management GmbH raised its holdings in shares of IDEX by 133.2% during the 4th quarter. Allianz Asset Management GmbH now owns 406,637 shares of the industrial products company’s stock worth $85,105,000 after acquiring an additional 232,255 shares in the last quarter. Corient Private Wealth LLC boosted its position in shares of IDEX by 237.1% during the 4th quarter. Corient Private Wealth LLC now owns 256,769 shares of the industrial products company’s stock valued at $53,740,000 after acquiring an additional 180,601 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of IDEX in the fourth quarter valued at $35,375,000. Hedge funds and other institutional investors own 97.96% of the company’s stock.

IDEX Price Performance

IDEX stock opened at $168.23 on Friday. The firm has a market capitalization of $12.71 billion, a PE ratio of 25.30, a price-to-earnings-growth ratio of 1.98 and a beta of 1.05. IDEX Co. has a 12-month low of $153.36 and a 12-month high of $238.22. The firm has a 50-day moving average price of $185.17 and a 200-day moving average price of $206.47. The company has a current ratio of 2.53, a quick ratio of 1.85 and a debt-to-equity ratio of 0.49.

IDEX (NYSE:IEX) last announced its earnings results on Tuesday, February 4th. The industrial products company reported $2.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.03 by $0.01. IDEX had a return on equity of 16.08% and a net margin of 15.45%. As a group, equities research analysts forecast that IDEX Co. will post 8.26 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. 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 decreased their target price on shares of IDEX from $256.00 to $245.00 and set an “outperform” rating on the stock in a research report on Thursday, February 6th. Finally, Citigroup lowered their price target on shares of IDEX from $269.00 to $267.00 and set a “buy” rating for the company in a report on Monday, January 13th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, IDEX presently has a consensus rating of “Moderate Buy” and a consensus price target of $241.71.

IDEX 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.