L. Roy Papp & Associates LLP Sells 535 Shares of IDEX Co. (NYSE:IEX)

L. Roy Papp & Associates LLP cut its position in shares of IDEX Co. (NYSE:IEX) by 3.6% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 14,165 shares of the industrial products company’s stock after selling 535 shares during the period. L. Roy Papp & Associates LLP’s holdings in IDEX were worth $2,965,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Catalyst Capital Advisors LLC raised its holdings in shares of IDEX by 73.8% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 139 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 59 shares in the last quarter. Assetmark Inc. bought a new stake in IDEX in the third quarter worth $39,000. Livforsakringsbolaget Skandia Omsesidigt raised its stake in IDEX by 100.0% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 200 shares of the industrial products company’s stock valued at $43,000 after purchasing an additional 100 shares in the last quarter. Brooklyn Investment Group bought a new position in IDEX during the third quarter valued at $86,000. Finally, Fred Alger Management LLC purchased a new position in shares of IDEX in the 3rd quarter worth $89,000. Hedge funds and other institutional investors own 97.96% of the company’s stock.

IDEX Stock Performance

Shares of IDEX stock opened at $194.90 on Wednesday. IDEX Co. has a 52 week low of $189.51 and a 52 week high of $246.36. The company has a market capitalization of $14.76 billion, a PE ratio of 29.31, a price-to-earnings-growth ratio of 1.98 and a beta of 0.97. The stock’s fifty day moving average is $214.86 and its two-hundred day moving average is $211.87. The company has a quick ratio of 2.11, a current ratio of 2.53 and a debt-to-equity ratio of 0.49.

IDEX (NYSE:IEX) last posted its quarterly earnings results 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 net margin of 15.45% and a return on equity of 16.08%. As a group, analysts expect that IDEX Co. will post 8.37 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on IEX. 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. Robert W. Baird decreased their price objective 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 dropped their target price on IDEX from $269.00 to $267.00 and set a “buy” rating for the company in a report on Monday, January 13th. Finally, Stifel Nicolaus increased their price target 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 assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $241.00.

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.