Asset Management One Co. Ltd. Sells 513 Shares of IDEX Co. (NYSE:IEX)

Posted by Defense World Staff on Apr 30th, 2023

Asset Management One Co. Ltd. lessened its stake in IDEX Co. (NYSE:IEX – Get Rating) by 1.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 29,322 shares of the industrial products company’s stock after selling 513 shares during the period. Asset Management One Co. Ltd.’s holdings in IDEX were worth $6,756,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in IEX. Parkside Financial Bank & Trust raised its holdings in IDEX by 120.3% in the 1st quarter. Parkside Financial Bank & Trust now owns 141 shares of the industrial products company’s stock valued at $27,000 after acquiring an additional 77 shares in the last quarter. Allworth Financial LP lifted its holdings in shares of IDEX by 491.2% during the 3rd quarter. Allworth Financial LP now owns 201 shares of the industrial products company’s stock worth $40,000 after acquiring an additional 167 shares during the period. General Partner Inc. bought a new stake in IDEX in the fourth quarter valued at about $46,000. Harvest Fund Management Co. Ltd acquired a new position in IDEX in the fourth quarter worth about $66,000. Finally, Covington Capital Management lifted its stake in IDEX by 120.7% during the third quarter. Covington Capital Management now owns 331 shares of the industrial products company’s stock worth $66,000 after purchasing an additional 181 shares during the period. Institutional investors own 96.58% of the company’s stock.

Insiders Place Their Bets

In other news, CFO William K. Grogan sold 3,181 shares of IDEX stock in a transaction that occurred on Thursday, February 9th. The shares were sold at an average price of $226.36, for a total transaction of $720,051.16. Following the completion of the sale, the chief financial officer now owns 13,864 shares in the company, valued at approximately $3,138,255.04. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Morgan Stanley increased their target price on IDEX from $235.00 to $250.00 and gave the stock an “overweight” rating in a report on Wednesday, January 18th. Royal Bank of Canada reduced their target price on shares of IDEX from $252.00 to $243.00 in a research note on Friday. Sanford C. Bernstein lowered their target price on shares of IDEX from $225.00 to $220.00 in a report on Friday. Stifel Nicolaus lifted their price target on shares of IDEX from $242.00 to $246.00 and gave the company a “hold” rating in a report on Monday, April 17th. Finally, StockNews.com raised shares of IDEX from a “hold” rating to a “buy” rating in a report on Tuesday, April 25th. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $236.17.

IDEX Stock Performance

Shares of IDEX stock opened at $206.32 on Friday. The firm has a 50 day simple moving average of $221.08 and a 200 day simple moving average of $225.39. IDEX Co. has a fifty-two week low of $172.18 and a fifty-two week high of $246.23. The company has a debt-to-equity ratio of 0.46, a current ratio of 3.10 and a quick ratio of 1.71. The firm has a market cap of $15.59 billion, a P/E ratio of 26.73, a P/E/G ratio of 2.04 and a beta of 1.00.

IDEX (NYSE:IEX – Get Rating) last released its earnings results on Wednesday, April 26th. The industrial products company reported $2.09 EPS for the quarter, beating the consensus estimate of $2.02 by $0.07. IDEX had a return on equity of 21.14% and a net margin of 17.91%. The company had revenue of $845.40 million during the quarter, compared to analysts’ expectations of $818.87 million. During the same period last year, the firm earned $1.96 EPS. The business’s revenue for the quarter was up 12.6% on a year-over-year basis. Sell-side analysts predict that IDEX Co. will post 8.49 earnings per share for the current fiscal year.

IDEX Profile

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IDEX Corp. engages in the provision of engineering solutions. It operates through the following segments: Fluid and Metering Technologies, Health and Science Technologies, and Fire and Safety or Diversified Products. The Fluid and Metering Technologies segment is involved in the design, production, and distribution of displacement pumps, valves, flow meters, injectors, and fluid-handling pump modules and systems.

Asset Management One Co. Ltd. Sells 513 Shares of IDEX Co. (NYSE:IEX)

Insiders Place Their Bets

Wall Street Analyst Weigh In

IDEX Stock Performance

IDEX Profile

Further Reading

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