Thrivent Financial for Lutherans Sells 2,023 Shares of IDEX Co. (NYSE:IEX)

Thrivent Financial for Lutherans decreased its holdings in shares of IDEX Co. (NYSE:IEX) by 10.2% in the fourth quarter, HoldingsChannel reports. The fund owned 17,865 shares of the industrial products company’s stock after selling 2,023 shares during the quarter. Thrivent Financial for Lutherans’ holdings in IDEX were worth $3,739,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of IEX. Wellington Management Group LLP grew its holdings in IDEX by 108.4% during the third 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 during the period. Allianz Asset Management GmbH grew its stake 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 valued at $85,105,000 after acquiring an additional 232,255 shares during the period. Corient Private Wealth LLC increased its holdings in IDEX by 237.1% in the 4th quarter. Corient Private Wealth LLC now owns 256,769 shares of the industrial products company’s stock worth $53,740,000 after acquiring an additional 180,601 shares in the last quarter. Raymond James Financial Inc. bought a new stake in IDEX during the 4th quarter worth approximately $35,375,000. Finally, Johnson Investment Counsel Inc. lifted its holdings in IDEX by 178.3% during the fourth quarter. Johnson Investment Counsel Inc. now owns 254,842 shares of the industrial products company’s stock valued at $53,336,000 after purchasing an additional 163,283 shares in the last quarter. 97.96% of the stock is currently owned by hedge funds and other institutional investors.

IDEX Trading Down 0.4 %

Shares of IEX stock opened at $184.33 on Wednesday. The stock’s 50-day moving average price is $199.12 and its 200-day moving average price is $209.78. IDEX Co. has a 12-month low of $177.71 and a 12-month high of $245.70. The stock has a market capitalization of $13.97 billion, a price-to-earnings ratio of 27.72, a price-to-earnings-growth ratio of 1.98 and a beta of 0.99. 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 issued its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $2.04 earnings per share (EPS) for the quarter, topping 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%. Equities research analysts predict that IDEX Co. will post 8.26 EPS for the current fiscal year.

Wall Street Analyst Weigh In

IEX has been the topic of several recent analyst reports. DA Davidson decreased their price objective on shares of IDEX from $225.00 to $215.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 19th. Royal Bank of Canada decreased their price target on IDEX from $256.00 to $245.00 and set an “outperform” rating on the stock in a report on Thursday, February 6th. Stifel Nicolaus boosted their price objective on IDEX from $244.00 to $256.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Finally, Citigroup cut their target price on 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’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $241.71.

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.