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

Allianz Asset Management GmbH grew its holdings in shares of IDEX Co. (NYSE:IEX) by 133.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 406,637 shares of the industrial products company’s stock after acquiring an additional 232,255 shares during the quarter. Allianz Asset Management GmbH owned 0.54% of IDEX worth $85,105,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of IEX. Boston Financial Mangement LLC bought a new stake in shares of IDEX during the 4th quarter valued at approximately $226,000. Handelsbanken Fonder AB boosted its position in IDEX by 6.1% in the fourth quarter. Handelsbanken Fonder AB now owns 20,800 shares of the industrial products company’s stock valued at $4,353,000 after buying an additional 1,200 shares in the last quarter. Vontobel Holding Ltd. grew its stake in shares of IDEX by 69.9% during the fourth quarter. Vontobel Holding Ltd. now owns 28,975 shares of the industrial products company’s stock worth $6,064,000 after buying an additional 11,925 shares during the last quarter. Asset Management One Co. Ltd. increased its holdings in shares of 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 worth $6,386,000 after buying an additional 1,209 shares in the last quarter. Finally, WCM Investment Management LLC bought a new position in shares of IDEX in the 4th quarter valued at $215,000. Institutional investors and hedge funds own 97.96% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on IEX. Citigroup reduced 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. Royal Bank of Canada reduced their price target on IDEX from $256.00 to $245.00 and set an “outperform” rating on the stock in a report on Thursday, February 6th. Stifel Nicolaus raised their price objective 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 shares of IDEX from $225.00 to $215.00 and set a “neutral” rating on the stock in a research report on Wednesday. Finally, Robert W. Baird decreased their price target on shares of IDEX from $245.00 to $241.00 and set an “outperform” rating for the company in a research report on Thursday, October 31st. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $241.71.

IDEX Stock Performance

Shares of IEX stock opened at $192.96 on Friday. The stock has a market capitalization of $14.61 billion, a PE ratio of 29.02, a PEG ratio of 2.00 and a beta of 0.97. The business’s 50 day simple moving average is $209.69 and its 200 day simple 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 Co. has a one year low of $189.51 and a one year high of $246.36.

IDEX (NYSE:IEX) last posted its quarterly earnings data 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 net margin of 15.45% and a return on equity of 16.08%. As a group, research analysts forecast that IDEX Co. will post 8.26 earnings per share for the current 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.