Allianz Asset Management GmbH Has $85.11 Million Stake in IDEX Co. (NYSE:IEX)

Allianz Asset Management GmbH lifted its stake in shares of IDEX Co. (NYSE:IEX) by 133.2% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 406,637 shares of the industrial products company’s stock after acquiring an additional 232,255 shares during the period. Allianz Asset Management GmbH’s holdings in IDEX were worth $85,105,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of IEX. Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of IDEX by 2.7% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 168,023 shares of the industrial products company’s stock valued at $36,041,000 after purchasing an additional 4,465 shares during the period. Cerity Partners LLC increased its position in IDEX by 48.3% in the 3rd quarter. Cerity Partners LLC now owns 20,632 shares of the industrial products company’s stock valued at $4,426,000 after buying an additional 6,720 shares in the last quarter. Asset Management One Co. Ltd. raised its stake in IDEX by 4.2% during the 4th quarter. Asset Management One Co. Ltd. now owns 30,250 shares of the industrial products company’s stock worth $6,386,000 after buying an additional 1,209 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in IDEX by 7.1% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 250,443 shares of the industrial products company’s stock worth $53,720,000 after buying an additional 16,504 shares during the period. Finally, Covea Finance boosted its holdings 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 acquiring an additional 6,000 shares in the last quarter. 97.96% of the stock is owned by institutional investors.

Analysts Set New Price Targets

IEX has been the subject of several research reports. Citigroup reduced their price target on shares of IDEX from $269.00 to $267.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Royal Bank of Canada reduced their price objective on shares of IDEX from $256.00 to $245.00 and set an “outperform” rating for the company in a report on Thursday, February 6th. Robert W. Baird lowered their target price on shares of IDEX from $245.00 to $241.00 and set an “outperform” rating on the stock in a report on Thursday, October 31st. Stifel Nicolaus raised their price target on shares of IDEX from $244.00 to $256.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Finally, DA Davidson decreased their price objective on IDEX from $225.00 to $215.00 and set a “neutral” rating for the company in a report on Wednesday. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $241.71.

IDEX Stock Down 1.6 %

IEX opened at $192.96 on Friday. IDEX Co. has a fifty-two week low of $189.51 and a fifty-two week high of $246.36. The firm has a market capitalization of $14.61 billion, a P/E ratio of 29.02, a PEG ratio of 2.00 and a beta of 0.97. The company’s 50-day moving average is $209.69 and its 200 day moving average is $211.40. 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 posted its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $2.04 EPS for the quarter, beating the consensus estimate of $2.03 by $0.01. IDEX had a net margin of 15.45% and a return on equity of 16.08%. Research analysts expect that IDEX Co. will post 8.26 earnings per share for the current fiscal year.

IDEX Company 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.