Bank of New York Mellon Corp Acquires 48,516 Shares of IDEX Co. (NYSE:IEX)

Bank of New York Mellon Corp raised its stake in shares of IDEX Co. (NYSE:IEX - Free Report) by 8.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 643,190 shares of the industrial products company's stock after purchasing an additional 48,516 shares during the period. Bank of New York Mellon Corp owned 0.85% of IDEX worth $134,613,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of IEX. Studio Investment Management LLC lifted its stake in shares of IDEX by 4.9% in the third quarter. Studio Investment Management LLC now owns 955 shares of the industrial products company's stock worth $205,000 after acquiring an additional 45 shares during the period. Bleakley Financial Group LLC raised its holdings in IDEX by 4.1% during the 4th quarter. Bleakley Financial Group LLC now owns 1,214 shares of the industrial products company's stock worth $254,000 after purchasing an additional 48 shares during the last quarter. Albert D Mason Inc. raised its holdings in IDEX by 1.3% during the 4th quarter. Albert D Mason Inc. now owns 4,532 shares of the industrial products company's stock worth $948,000 after purchasing an additional 56 shares during the last quarter. Catalyst Capital Advisors LLC lifted its position in shares of IDEX by 73.8% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 139 shares of the industrial products company's stock worth $30,000 after purchasing an additional 59 shares during the period. Finally, Diversified Trust Co boosted its stake in shares of IDEX by 1.0% in the 4th quarter. Diversified Trust Co now owns 6,210 shares of the industrial products company's stock valued at $1,300,000 after purchasing an additional 59 shares during the last quarter. 97.96% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Stifel Nicolaus boosted their target price on shares of IDEX from $244.00 to $256.00 and gave the company a "buy" rating in a report on Wednesday, December 11th. Royal Bank of Canada cut their target price on IDEX from $256.00 to $245.00 and set an "outperform" rating on the stock in a research report on Thursday, February 6th. Citigroup lowered their target price on IDEX from $269.00 to $267.00 and set a "buy" rating for the company in a report on Monday, January 13th. Finally, DA Davidson reduced their price objective on shares of IDEX from $225.00 to $215.00 and set a "neutral" rating for the company in a research report on Wednesday, February 19th. 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, IDEX currently has an average rating of "Moderate Buy" and a consensus price target of $241.71.

IDEX Stock Down 0.3 %

Shares of NYSE:IEX traded down $0.64 during midday trading on Tuesday, hitting $187.90. 329,679 shares of the company's stock were exchanged, compared to its average volume of 525,253. 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 12 month low of $183.24 and a 12 month high of $246.36. The company has a market cap of $14.24 billion, a PE ratio of 28.25, a price-to-earnings-growth ratio of 1.98 and a beta of 0.97. The stock has a 50 day moving average price of $207.18 and a 200-day moving average price of $211.69.

IDEX (NYSE:IEX - Get Free Report) last issued its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $2.04 EPS 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%. On average, sell-side analysts anticipate that IDEX Co. will post 8.26 EPS 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.