IDEX Co. (NYSE:IEX) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. reduced its stake in IDEX Co. (NYSE:IEX) by 10.5% in the fourth quarter, HoldingsChannel.com reports. The fund owned 111,768 shares of the industrial products company’s stock after selling 13,096 shares during the quarter. Envestnet Asset Management Inc.’s holdings in IDEX were worth $23,392,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently made changes to their positions in IEX. Vanguard Group Inc. lifted its holdings in shares of IDEX by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 9,306,008 shares of the industrial products company’s stock worth $1,947,654,000 after purchasing an additional 63,432 shares during the last quarter. Wellington Management Group LLP lifted its stake in 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 valued at $883,119,000 after buying an additional 1,388,667 shares during the last quarter. Geode Capital Management LLC lifted its stake in IDEX by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 1,912,933 shares of the industrial products company’s stock valued at $399,350,000 after buying an additional 21,758 shares during the last quarter. Pictet Asset Management Holding SA boosted its holdings in shares of IDEX by 6.3% during the fourth quarter. Pictet Asset Management Holding SA now owns 1,620,252 shares of the industrial products company’s stock valued at $339,103,000 after acquiring an additional 95,840 shares during the period. Finally, Barclays PLC grew its position in shares of IDEX by 1.2% during the third quarter. Barclays PLC now owns 1,177,645 shares of the industrial products company’s stock worth $252,603,000 after acquiring an additional 14,360 shares during the last quarter. 97.96% of the stock is owned by institutional investors.

Analyst Ratings Changes

IEX has been the subject of a number of analyst reports. DA Davidson reduced their target price on shares of IDEX from $225.00 to $215.00 and set a “neutral” rating for the company in a research note on Wednesday, February 19th. Citigroup reduced their price objective 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, Royal Bank of Canada decreased their price objective on IDEX from $256.00 to $245.00 and set an “outperform” rating for the company in a report on Thursday, February 6th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, IDEX currently has an average rating of “Moderate Buy” and an average target price of $241.71.

IDEX Price Performance

Shares of NYSE:IEX opened at $168.23 on Monday. The stock has a market cap of $12.71 billion, a price-to-earnings ratio of 25.30, a PEG ratio of 1.98 and a beta of 1.05. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.53 and a quick ratio of 1.85. IDEX Co. has a 12 month low of $153.36 and a 12 month high of $238.22. The stock’s 50 day moving average price is $185.17 and its 200 day moving average price is $206.42.

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 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%. Equities research analysts anticipate that IDEX Co. will post 8.26 earnings per share for the current fiscal year.

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.