Goldman Sachs Group Inc. Has $135.52 Million Stake in IDEX Co. (IEX)
Goldman Sachs Group Inc. decreased its stake in shares of IDEX Co. (NYSE:IEX) by 11.1% during the fourth quarter, Holdings Channel reports. The fund owned 1,026,926 shares of the industrial products company’s stock after selling 127,626 shares during the period. Goldman Sachs Group Inc.’s holdings in IDEX were worth $135,523,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of the company. BlackRock Inc. increased its holdings in shares of IDEX by 4.7% during the 4th quarter. BlackRock Inc. now owns 7,338,809 shares of the industrial products company’s stock valued at $968,504,000 after acquiring an additional 331,466 shares during the last quarter. Clearbridge Investments LLC increased its holdings in shares of IDEX by 0.6% during the 4th quarter. Clearbridge Investments LLC now owns 1,313,121 shares of the industrial products company’s stock valued at $173,293,000 after acquiring an additional 7,496 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of IDEX by 3.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,026,720 shares of the industrial products company’s stock valued at $124,716,000 after acquiring an additional 34,391 shares during the last quarter. Impax Asset Management LTD increased its holdings in shares of IDEX by 2.3% during the 4th quarter. Impax Asset Management LTD now owns 971,315 shares of the industrial products company’s stock valued at $128,184,000 after acquiring an additional 22,148 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of IDEX by 3.5% during the 4th quarter. Geode Capital Management LLC now owns 638,423 shares of the industrial products company’s stock valued at $84,202,000 after acquiring an additional 21,464 shares during the last quarter. 96.14% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts have recently commented on the company. Wells Fargo & Co reissued a “positive” rating and set a $165.00 price objective (up previously from $155.00) on shares of IDEX in a report on Wednesday, January 31st. BMO Capital Markets increased their price objective on IDEX to $143.00 and gave the company a “market perform” rating in a report on Wednesday, January 31st. They noted that the move was a valuation call. SunTrust Banks increased their price objective on IDEX to $145.00 in a report on Thursday, February 1st. They noted that the move was a valuation call. Zacks Investment Research raised IDEX from a “hold” rating to a “buy” rating and set a $162.00 target price on the stock in a report on Friday, February 2nd. Finally, Cowen reaffirmed a “hold” rating and issued a $120.00 target price on shares of IDEX in a report on Sunday, January 28th. Ten analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $137.56.
IDEX (NYSE:IEX) last released its earnings results on Monday, January 29th. The industrial products company reported $1.12 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.07 by $0.05. The firm had revenue of $585.90 million for the quarter, compared to analyst estimates of $573.47 million. IDEX had a return on equity of 18.88% and a net margin of 14.74%. The company’s revenue was up 10.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.96 EPS. equities research analysts forecast that IDEX Co. will post 5.07 earnings per share for the current fiscal year.
ILLEGAL ACTIVITY WARNING: This piece of content was reported by Watch List News and is the property of of Watch List News. If you are accessing this piece of content on another site, it was illegally stolen and republished in violation of US and international copyright & trademark legislation. The legal version of this piece of content can be viewed at https://www.watchlistnews.com/goldman-sachs-group-inc-has-135-52-million-stake-in-idex-co-iex/1927676.html.
IDEX Corporation (IDEX) operates an applied solutions business that sells pumps, flow meters and other fluidics systems, and components and engineered products. The Company operates through three segments: Fluid & Metering Technologies (FMT), Health & Science Technologies (HST) and Fire & Safety/Diversified Products (FSDP).
Want to see what other hedge funds are holding IEX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for IDEX Co. (NYSE:IEX).
Receive News & Ratings for IDEX Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for IDEX and related companies with MarketBeat.com's FREE daily email newsletter.