California Public Employees Retirement System Sells 30,917 Shares of IDEX Co. (NYSE:IEX)

California Public Employees Retirement System lowered its position in shares of IDEX Co. (NYSE:IEX) by 13.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 194,492 shares of the industrial products company’s stock after selling 30,917 shares during the quarter. California Public Employees Retirement System owned 0.26% of IDEX worth $40,705,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Jones Financial Companies Lllp grew its position in IDEX by 35.2% in the fourth quarter. Jones Financial Companies Lllp now owns 407 shares of the industrial products company’s stock valued at $85,000 after purchasing an additional 106 shares in the last quarter. Assetmark Inc. increased its position in shares of IDEX by 129.1% in the fourth quarter. Assetmark Inc. now owns 417 shares of the industrial products company’s stock valued at $87,000 after acquiring an additional 235 shares during the last quarter. Millburn Ridgefield Corp raised its holdings in IDEX by 475.0% during the third quarter. Millburn Ridgefield Corp now owns 460 shares of the industrial products company’s stock worth $99,000 after acquiring an additional 380 shares in the last quarter. BankPlus Trust Department acquired a new position in IDEX during the fourth quarter valued at approximately $123,000. Finally, EverSource Wealth Advisors LLC grew its stake in IDEX by 49.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 590 shares of the industrial products company’s stock valued at $123,000 after purchasing an additional 196 shares in the last quarter. 97.96% of the stock is owned by institutional investors.

IDEX Trading Up 1.2 %

Shares of IEX stock opened at $183.39 on Thursday. IDEX Co. has a 12-month low of $176.39 and a 12-month high of $242.09. The company has a market capitalization of $13.85 billion, a PE ratio of 27.58, a price-to-earnings-growth ratio of 1.98 and a beta of 0.99. The firm has a 50 day moving average price of $194.96 and a two-hundred day moving average price of $209.05. The company has a quick ratio of 1.85, a current ratio of 2.53 and a debt-to-equity ratio of 0.49.

IDEX (NYSE:IEX) last released its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $2.04 earnings per share for the quarter, topping the consensus estimate of $2.03 by $0.01. IDEX had a return on equity of 16.08% and a net margin of 15.45%. As a group, analysts predict that IDEX Co. will post 8.26 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on IEX. Royal Bank of Canada dropped their price objective on IDEX from $256.00 to $245.00 and set an “outperform” rating on the stock in a research note on Thursday, February 6th. DA Davidson cut their price target on shares of IDEX from $225.00 to $215.00 and set a “neutral” rating for the company in a research note on Wednesday, February 19th. Stifel Nicolaus boosted their price objective on shares of IDEX from $244.00 to $256.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Finally, Citigroup dropped their target price on shares of IDEX from $269.00 to $267.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average 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.