CIBC Private Wealth Group LLC Has $37.85 Million Holdings in IDEX Co. (NYSE:IEX)

CIBC Private Wealth Group LLC trimmed its position in IDEX Co. (NYSE:IEX) by 2.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 181,294 shares of the industrial products company’s stock after selling 4,377 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in IDEX were worth $37,852,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wellington Management Group LLP increased its holdings in 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 buying an additional 1,472,456 shares during the period. Norges Bank bought a new stake in IDEX in the fourth quarter valued at about $217,658,000. Allianz Asset Management GmbH increased its stake in IDEX by 133.2% in the fourth quarter. Allianz Asset Management GmbH now owns 406,637 shares of the industrial products company’s stock valued at $85,105,000 after acquiring an additional 232,255 shares during the period. Corient Private Wealth LLC raised its position in IDEX by 237.1% in the fourth quarter. Corient Private Wealth LLC now owns 256,769 shares of the industrial products company’s stock worth $53,740,000 after purchasing an additional 180,601 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in IDEX during the fourth quarter worth about $35,375,000. 97.96% of the stock is owned by institutional investors.

IDEX Price Performance

Shares of IEX stock opened at $180.80 on Monday. IDEX Co. has a 52 week low of $177.71 and a 52 week high of $244.11. The stock has a market capitalization of $13.66 billion, a PE ratio of 27.19, a PEG ratio of 1.98 and a beta of 0.99. 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 is $197.16 and its 200-day moving average is $209.49.

IDEX (NYSE:IEX) last issued 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 net margin of 15.45% and a return on equity of 16.08%. Equities research analysts expect that IDEX Co. will post 8.26 EPS for the current fiscal year.

Analysts Set New Price Targets

IEX has been the subject of a number of recent research reports. 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. Stifel Nicolaus upped their price target on IDEX from $244.00 to $256.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Royal Bank of Canada cut 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. Finally, 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 report on Wednesday, February 19th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, IDEX has an average rating of “Moderate Buy” and an average price target 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.