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

CIBC Asset Management Inc lowered its position in shares of IDEX Co. (NYSE:IEX) by 51.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,611 shares of the industrial products company’s stock after selling 12,443 shares during the period. CIBC Asset Management Inc’s holdings in IDEX were worth $2,430,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Catalyst Capital Advisors LLC increased its stake in IDEX by 73.8% during the third 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 during the last quarter. Assetmark Inc. acquired a new stake in shares of IDEX during the 3rd quarter worth about $39,000. Brooklyn Investment Group purchased a new stake in IDEX in the 3rd quarter valued at about $86,000. Fred Alger Management LLC acquired a new position in IDEX in the third quarter valued at about $89,000. Finally, Blue Trust Inc. boosted its stake in IDEX by 41.9% during the third quarter. Blue Trust Inc. now owns 481 shares of the industrial products company’s stock worth $97,000 after buying an additional 142 shares during the period. Hedge funds and other institutional investors own 97.96% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on IEX shares. DA Davidson reduced their price target on shares of IDEX from $225.00 to $215.00 and set a “neutral” rating on the stock in a research note on Wednesday. Citigroup cut their target price on IDEX from $269.00 to $267.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Stifel Nicolaus raised their price target on IDEX from $244.00 to $256.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Robert W. Baird cut their price objective on IDEX from $245.00 to $241.00 and set an “outperform” rating on the stock in a report on Thursday, October 31st. Finally, Royal Bank of Canada lowered their target price on IDEX from $256.00 to $245.00 and set an “outperform” rating for the company in a report on Thursday, February 6th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $241.71.

IDEX Price Performance

Shares of NYSE IEX opened at $192.96 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.53 and a quick ratio of 1.85. The company has a market cap of $14.61 billion, a price-to-earnings ratio of 29.02, a price-to-earnings-growth ratio of 2.00 and a beta of 0.97. The stock’s 50-day moving average is $209.69 and its two-hundred day moving average is $211.40. IDEX Co. has a 1-year low of $189.51 and a 1-year high of $246.36.

IDEX (NYSE:IEX) last issued its earnings results 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 net margin of 15.45% and a return on equity of 16.08%. Analysts forecast that IDEX Co. will post 8.26 EPS for the current fiscal 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.