Orion Portfolio Solutions LLC Sells 649 Shares of IDEX Co. (NYSE:IEX)

Orion Portfolio Solutions LLC cut its holdings in IDEX Co. (NYSE:IEX) by 5.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,519 shares of the industrial products company’s stock after selling 649 shares during the period. Orion Portfolio Solutions LLC’s holdings in IDEX were worth $2,202,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Asset Management One Co. Ltd. raised its position in IDEX by 4.2% during the fourth quarter. Asset Management One Co. Ltd. now owns 30,250 shares of the industrial products company’s stock valued at $6,386,000 after purchasing an additional 1,209 shares during the period. Assetmark Inc. raised its holdings in IDEX by 129.1% during the 4th quarter. Assetmark Inc. now owns 417 shares of the industrial products company’s stock valued at $87,000 after buying an additional 235 shares during the period. Covea Finance lifted its position in IDEX by 70.6% in the fourth quarter. Covea Finance now owns 14,500 shares of the industrial products company’s stock worth $3,035,000 after buying an additional 6,000 shares during the last quarter. Barclays PLC increased its position in IDEX by 1.2% during the third quarter. Barclays PLC now owns 1,177,645 shares of the industrial products company’s stock valued at $252,603,000 after acquiring an additional 14,360 shares during the last quarter. Finally, Park Avenue Securities LLC raised its stake in shares of IDEX by 27.0% in the fourth quarter. Park Avenue Securities LLC now owns 2,330 shares of the industrial products company’s stock valued at $488,000 after acquiring an additional 495 shares during the period. 97.96% of the stock is currently owned by hedge funds and other institutional investors.

IDEX Stock Performance

IEX stock opened at $181.18 on Wednesday. IDEX Co. has a 1-year low of $176.39 and a 1-year high of $242.09. The business has a 50-day moving average price of $195.70 and a 200 day moving average price of $209.23. The company has a market capitalization of $13.69 billion, a P/E ratio of 27.25, a PEG ratio of 1.98 and a beta of 0.99. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.53 and a quick ratio of 1.85.

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%. As a group, equities research analysts forecast that IDEX Co. will post 8.26 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

IEX has been the topic of several analyst reports. Stifel Nicolaus upped their price target on shares of IDEX from $244.00 to $256.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. DA Davidson cut their target price on IDEX from $225.00 to $215.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 19th. Royal Bank of Canada decreased their price target on IDEX from $256.00 to $245.00 and set an “outperform” rating for the company in a research note on Thursday, February 6th. Finally, Citigroup cut their price objective on IDEX from $269.00 to $267.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, IDEX presently has a consensus rating of “Moderate Buy” and a consensus price target of $241.71.

About IDEX

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.