Mitsubishi UFJ Trust & Banking Corp Has $7.25 Million Holdings in IDEX Co. (NYSE:IEX)

Mitsubishi UFJ Trust & Banking Corp decreased its holdings in IDEX Co. (NYSE:IEX) by 16.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 34,624 shares of the industrial products company’s stock after selling 6,721 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in IDEX were worth $7,246,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Jones Financial Companies Lllp grew its stake in IDEX by 35.2% in the fourth 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. lifted its holdings in shares of IDEX by 129.1% during the 4th 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 last quarter. Fred Alger Management LLC acquired a new position in IDEX in the third quarter worth approximately $89,000. Millburn Ridgefield Corp raised its position in IDEX by 475.0% during the third quarter. Millburn Ridgefield Corp now owns 460 shares of the industrial products company’s stock valued at $99,000 after acquiring an additional 380 shares in the last quarter. Finally, BankPlus Trust Department acquired a new stake in IDEX in the fourth quarter valued at approximately $123,000. 97.96% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. 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. DA Davidson lowered their target price 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. Citigroup reduced their price target on IDEX from $269.00 to $267.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Finally, Stifel Nicolaus increased their price objective on IDEX from $244.00 to $256.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, IDEX currently has an average rating of “Moderate Buy” and a consensus target price of $241.71.

IDEX Price Performance

Shares of NYSE:IEX opened at $180.80 on Monday. The company has a market cap of $13.66 billion, a price-to-earnings ratio of 27.19, a PEG ratio of 1.98 and a beta of 0.99. The business has a 50 day moving average price of $197.16 and a 200 day moving average price of $209.49. The company has a quick ratio of 1.85, a current ratio of 2.53 and a debt-to-equity ratio of 0.49. IDEX Co. has a twelve month low of $177.71 and a twelve month high of $244.11.

IDEX (NYSE:IEX) last posted its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $2.04 earnings per share 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%. Research analysts predict that IDEX Co. will post 8.26 earnings per share for the current year.

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.