Essex Investment Management Co. LLC Increases Stake in IDEX Co. (NYSE:IEX)

Essex Investment Management Co. LLC raised its holdings in IDEX Co. (NYSE:IEX - Free Report) by 28,356.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 23,903 shares of the industrial products company's stock after acquiring an additional 23,819 shares during the period. IDEX makes up 0.9% of Essex Investment Management Co. LLC's investment portfolio, making the stock its 29th largest position. Essex Investment Management Co. LLC's holdings in IDEX were worth $5,003,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of IEX. Larson Financial Group LLC lifted its position in IDEX by 11.3% during the fourth quarter. Larson Financial Group LLC now owns 896 shares of the industrial products company's stock valued at $188,000 after purchasing an additional 91 shares during the last quarter. PNC Financial Services Group Inc. raised its position in shares of IDEX by 35.8% during the 4th quarter. PNC Financial Services Group Inc. now owns 29,438 shares of the industrial products company's stock valued at $6,161,000 after buying an additional 7,761 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich lifted its holdings in shares of IDEX by 14.5% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 70,143 shares of the industrial products company's stock worth $14,837,000 after acquiring an additional 8,888 shares during the last quarter. Callan Family Office LLC purchased a new position in IDEX in the fourth quarter worth $1,391,000. Finally, Raymond James Financial Inc. bought a new position in IDEX in the fourth quarter valued at $35,375,000. Hedge funds and other institutional investors own 97.96% of the company's stock.

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IDEX Trading Down 2.0 %

NYSE:IEX traded down $3.72 during midday trading on Thursday, reaching $178.18. 558,971 shares of the stock traded hands, compared to its average volume of 565,174. The stock has a market capitalization of $13.50 billion, a P/E ratio of 26.79, a PEG ratio of 1.98 and a beta of 0.99. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.85 and a current ratio of 2.53. The company has a fifty day moving average of $203.70 and a 200 day moving average of $210.93. IDEX Co. has a 12 month low of $177.71 and a 12 month high of $246.36.

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, 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%. On average, research analysts predict that IDEX Co. will post 8.26 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have issued reports on IEX shares. DA Davidson dropped their price target on 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 upped their target price on IDEX from $244.00 to $256.00 and gave the stock a "buy" rating in a research note on Wednesday, December 11th. Citigroup reduced their price target on shares of IDEX from $269.00 to $267.00 and set a "buy" rating on the stock in a research report on Monday, January 13th. Finally, Royal Bank of Canada cut their price objective on shares of IDEX from $256.00 to $245.00 and set an "outperform" rating for the company in a research note on Thursday, February 6th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $241.71.

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.