FIL Ltd lifted its holdings in shares of IDEX Co. (NYSE:IEX - Free Report) by 22.4% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 162,080 shares of the industrial products company's stock after acquiring an additional 29,710 shares during the period. FIL Ltd owned approximately 0.21% of IDEX worth $33,922,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of IEX. Vanguard Group Inc. increased its stake in IDEX by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 9,306,008 shares of the industrial products company's stock valued at $1,947,654,000 after purchasing an additional 63,432 shares in the last quarter. Wellington Management Group LLP increased its position in shares of IDEX by 49.1% in the 4th quarter. Wellington Management Group LLP now owns 4,219,596 shares of the industrial products company's stock valued at $883,119,000 after acquiring an additional 1,388,667 shares during the period. Geode Capital Management LLC raised its stake in IDEX by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 1,912,933 shares of the industrial products company's stock worth $399,350,000 after acquiring an additional 21,758 shares during the last quarter. Pictet Asset Management Holding SA raised its stake in IDEX by 6.3% in the 4th quarter. Pictet Asset Management Holding SA now owns 1,620,252 shares of the industrial products company's stock worth $339,103,000 after acquiring an additional 95,840 shares during the last quarter. Finally, Barclays PLC lifted its position in IDEX by 1.2% during the 3rd quarter. Barclays PLC now owns 1,177,645 shares of the industrial products company's stock worth $252,603,000 after acquiring an additional 14,360 shares during the period. 97.96% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several brokerages have recently issued reports on IEX. DA Davidson reduced their price objective on IDEX from $225.00 to $215.00 and set a "neutral" rating for the company in a research note on Wednesday, February 19th. Royal Bank of Canada decreased 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. Stifel Nicolaus dropped their price objective on shares of IDEX from $256.00 to $192.00 and set a "buy" rating on the stock in a report on Monday. Finally, Citigroup decreased their target price on shares of IDEX from $264.00 to $201.00 and set a "buy" rating for the company in a research report on Monday. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $223.14.
Read Our Latest Report on IEX
IDEX Price Performance
Shares of IDEX stock traded down $0.67 on Wednesday, reaching $166.68. The company's stock had a trading volume of 64,322 shares, compared to its average volume of 551,274. IDEX Co. has a 52-week low of $153.36 and a 52-week high of $238.22. The company has a market capitalization of $12.59 billion, a P/E ratio of 25.06, a PEG ratio of 1.98 and a beta of 1.05. The company has a quick ratio of 1.85, a current ratio of 2.53 and a debt-to-equity ratio of 0.49. The stock has a 50-day moving average price of $183.98 and a 200-day moving average price of $205.84.
IDEX (NYSE:IEX - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $2.04 earnings per share (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%. Analysts expect that IDEX Co. will post 8.26 EPS for the current year.
About IDEX
(
Free Report)
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.
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