ING Groep NV Sells 50,454 Shares of IDEX Co. (NYSE:IEX)

ING Groep NV lowered its holdings in IDEX Co. (NYSE:IEX) by 83.9% during the fourth quarter, HoldingsChannel.com reports. The fund owned 9,671 shares of the industrial products company’s stock after selling 50,454 shares during the period. ING Groep NV’s holdings in IDEX were worth $2,024,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Wellington Management Group LLP grew its stake in shares of IDEX by 108.4% in the 3rd 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. Van ECK Associates Corp grew its position in IDEX by 9,424.6% in the third quarter. Van ECK Associates Corp now owns 1,032,277 shares of the industrial products company’s stock valued at $211,473,000 after acquiring an additional 1,021,439 shares during the period. Champlain Investment Partners LLC raised its stake in IDEX by 28.8% during the third quarter. Champlain Investment Partners LLC now owns 1,223,676 shares of the industrial products company’s stock worth $262,479,000 after acquiring an additional 273,460 shares in the last quarter. DF Dent & Co. Inc. acquired a new position in IDEX during the third quarter worth $31,747,000. Finally, King Luther Capital Management Corp lifted its holdings in shares of IDEX by 16.2% during the third quarter. King Luther Capital Management Corp now owns 742,724 shares of the industrial products company’s stock valued at $159,314,000 after acquiring an additional 103,432 shares during the period. Institutional investors and hedge funds own 97.96% of the company’s stock.

IDEX Stock Down 1.6 %

NYSE:IEX opened at $192.96 on Monday. The company has a market cap of $14.61 billion, a price-to-earnings ratio of 29.02, a P/E/G ratio of 1.98 and a beta of 0.97. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.85 and a current ratio of 2.53. The stock’s fifty day moving average price is $209.69 and its two-hundred day moving average price is $211.68. IDEX Co. has a 52-week low of $189.51 and a 52-week high of $246.36.

IDEX (NYSE:IEX) last posted its quarterly 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%. On average, analysts anticipate that IDEX Co. will post 8.26 EPS for the current year.

Analyst Upgrades and Downgrades

IEX has been the subject of a number of recent analyst reports. DA Davidson dropped their target price on shares of IDEX from $225.00 to $215.00 and set a “neutral” rating for the company in a research report on Wednesday, February 19th. Stifel Nicolaus lifted their target price on shares of IDEX from $244.00 to $256.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Robert W. Baird decreased their price target on IDEX from $245.00 to $241.00 and set an “outperform” rating on the stock in a research report on Thursday, October 31st. Citigroup cut 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 target price on IDEX from $256.00 to $245.00 and set an “outperform” rating on the stock in a report on Thursday, February 6th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, IDEX presently has an average rating of “Moderate Buy” and a consensus target price 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.