Bank Julius Baer & Co. Ltd Zurich Reduces Stock Holdings in IDEX Co. (NYSE:IEX)

Bank Julius Baer & Co. Ltd Zurich decreased its holdings in IDEX Co. (NYSE:IEX) by 38.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,470 shares of the industrial products company’s stock after selling 1,511 shares during the quarter. Bank Julius Baer & Co. Ltd Zurich’s holdings in IDEX were worth $536,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in IEX. Planned Solutions Inc. purchased a new stake in IDEX in the fourth quarter worth $33,000. Compagnie Lombard Odier SCmA purchased a new stake in IDEX in the fourth quarter worth $54,000. Cary Street Partners Investment Advisory LLC lifted its stake in IDEX by 30.9% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 339 shares of the industrial products company’s stock worth $71,000 after acquiring an additional 80 shares during the period. Desjardins Global Asset Management Inc. lifted its stake in IDEX by 25.6% in the fourth quarter. Desjardins Global Asset Management Inc. now owns 388 shares of the industrial products company’s stock worth $84,000 after acquiring an additional 79 shares during the period. Finally, Orion Capital Management LLC purchased a new stake in IDEX in the third quarter worth $86,000. Hedge funds and other institutional investors own 97.96% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on IEX shares. Oppenheimer raised their price objective on IDEX from $245.00 to $252.00 and gave the company an “outperform” rating in a research report on Thursday, April 18th. Stifel Nicolaus upgraded IDEX from a “hold” rating to a “buy” rating and raised their price target for the company from $215.00 to $265.00 in a report on Thursday, February 8th. Royal Bank of Canada restated an “outperform” rating and set a $255.00 price target on shares of IDEX in a report on Thursday, March 21st. Robert W. Baird reduced their price target on IDEX from $260.00 to $256.00 and set an “outperform” rating for the company in a report on Thursday. Finally, StockNews.com downgraded IDEX from a “buy” rating to a “hold” rating in a report on Wednesday. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $241.67.

IDEX Price Performance

NYSE IEX opened at $220.66 on Friday. IDEX Co. has a one year low of $183.76 and a one year high of $246.36. The stock has a 50-day moving average of $236.36 and a 200 day moving average of $216.75. The company has a market capitalization of $16.70 billion, a price-to-earnings ratio of 29.03, a PEG ratio of 2.20 and a beta of 0.97. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.05 and a current ratio of 3.37.

IDEX (NYSE:IEX) last released its quarterly earnings data on Tuesday, April 23rd. The industrial products company reported $1.88 EPS for the quarter, topping the consensus estimate of $1.76 by $0.12. IDEX had a return on equity of 17.60% and a net margin of 17.89%. The company had revenue of $801.00 million during the quarter, compared to the consensus estimate of $807.52 million. During the same period last year, the company earned $2.09 EPS. IDEX’s revenue for the quarter was down 5.3% on a year-over-year basis. On average, sell-side analysts forecast that IDEX Co. will post 8.33 EPS for the current 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.