IDEX Co. (IEX) Holdings Trimmed by Principal Financial Group Inc.

Principal Financial Group Inc. cut its holdings in shares of IDEX Co. (NYSE:IEX) by 2.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 645,742 shares of the industrial products company’s stock after selling 18,309 shares during the period. Principal Financial Group Inc. owned approximately 0.84% of IDEX worth $81,531,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Quantamental Technologies LLC bought a new stake in shares of IDEX in the fourth quarter valued at about $25,000. Lindbrook Capital LLC bought a new stake in shares of IDEX in the fourth quarter valued at about $32,000. Essex Investment Management Co. LLC bought a new stake in shares of IDEX in the fourth quarter valued at about $33,000. JOYN Advisors Inc. raised its holdings in IDEX by 51.4% during the fourth quarter. JOYN Advisors Inc. now owns 265 shares of the industrial products company’s stock worth $33,000 after acquiring an additional 90 shares in the last quarter. Finally, Penserra Capital Management LLC bought a new stake in IDEX during the fourth quarter worth about $35,000. Hedge funds and other institutional investors own 93.44% of the company’s stock.

IEX has been the topic of several analyst reports. Royal Bank of Canada upgraded IDEX from a “sector perform” rating to an “outperform” rating and upped their target price for the stock from $141.00 to $146.00 in a report on Thursday, January 3rd. Zacks Investment Research upgraded IDEX from a “sell” rating to a “hold” rating in a report on Thursday, January 24th. Finally, Boenning Scattergood reiterated a “hold” rating on shares of IDEX in a research note on Wednesday, January 30th. Eight research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $145.70.

In related news, VP Michael J. Yates sold 11,397 shares of the stock in a transaction on Wednesday, February 27th. The stock was sold at an average price of $144.72, for a total value of $1,649,373.84. Following the completion of the sale, the vice president now directly owns 26,590 shares in the company, valued at $3,848,104.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Jeffrey D. Bucklew sold 2,255 shares of the stock in a transaction on Friday, February 15th. The shares were sold at an average price of $143.02, for a total value of $322,510.10. Following the completion of the sale, the senior vice president now owns 2,255 shares of the company’s stock, valued at $322,510.10. The disclosure for this sale can be found here. Corporate insiders own 1.20% of the company’s stock.

Shares of IEX opened at $148.56 on Thursday. IDEX Co. has a 52 week low of $117.72 and a 52 week high of $157.84. The firm has a market capitalization of $11.31 billion, a PE ratio of 27.46, a PEG ratio of 2.54 and a beta of 1.28. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.00 and a quick ratio of 2.23.

IDEX (NYSE:IEX) last announced its quarterly earnings results on Tuesday, January 29th. The industrial products company reported $1.31 EPS for the quarter, beating the Zacks’ consensus estimate of $1.27 by $0.04. IDEX had a return on equity of 20.82% and a net margin of 16.53%. The company had revenue of $614.09 million during the quarter, compared to analysts’ expectations of $617.72 million. During the same period in the prior year, the company earned $1.12 EPS. IDEX’s revenue was up 4.8% compared to the same quarter last year. As a group, analysts expect that IDEX Co. will post 5.73 EPS for the current year.

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IDEX Profile

IDEX Corporation, through its subsidiaries, operates as an applied solutions company 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, flow meters, injectors, and other fluid-handling pump modules and systems, as well as offers flow monitoring and other services for the food, chemical, general industrial, water and wastewater, agricultural, and energy industries.

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Institutional Ownership by Quarter for IDEX (NYSE:IEX)

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