HighTower Advisors LLC Acquires 2,242 Shares of IDEX Co. (NYSE:IEX)

HighTower Advisors LLC grew its holdings in shares of IDEX Co. (NYSE:IEX - Free Report) by 21.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,546 shares of the industrial products company's stock after purchasing an additional 2,242 shares during the quarter. HighTower Advisors LLC's holdings in IDEX were worth $2,626,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Net Worth Advisory Group boosted its holdings in shares of IDEX by 2.8% during the 4th quarter. Net Worth Advisory Group now owns 2,651 shares of the industrial products company's stock worth $555,000 after buying an additional 73 shares during the period. Johnson Investment Counsel Inc. boosted its holdings in IDEX by 178.3% during the fourth quarter. Johnson Investment Counsel Inc. now owns 254,842 shares of the industrial products company's stock valued at $53,336,000 after acquiring an additional 163,283 shares during the period. Daiwa Securities Group Inc. grew its position in shares of IDEX by 5.9% in the fourth quarter. Daiwa Securities Group Inc. now owns 12,106 shares of the industrial products company's stock valued at $2,533,000 after purchasing an additional 674 shares during the last quarter. Essex Investment Management Co. LLC increased its stake in shares of IDEX by 28,356.0% in the fourth quarter. Essex Investment Management Co. LLC now owns 23,903 shares of the industrial products company's stock worth $5,003,000 after purchasing an additional 23,819 shares during the period. Finally, Larson Financial Group LLC lifted its position in shares of IDEX by 11.3% during the 4th quarter. Larson Financial Group LLC now owns 896 shares of the industrial products company's stock worth $188,000 after purchasing an additional 91 shares during the last quarter. Institutional investors and hedge funds own 97.96% of the company's stock.

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Wall Street Analyst Weigh In

Several research analysts have commented on IEX shares. Citigroup dropped their price target on IDEX from $269.00 to $267.00 and set a "buy" rating on the stock in a research report on Monday, January 13th. DA Davidson cut their target price on shares of 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 target on shares of IDEX from $256.00 to $245.00 and set an "outperform" rating on the stock in a research report on Thursday, February 6th. Finally, Stifel Nicolaus upped their price objective on shares of IDEX from $244.00 to $256.00 and gave the company a "buy" rating in a research report on Wednesday, December 11th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, IDEX currently has a consensus rating of "Moderate Buy" and an average price target of $241.71.

IDEX Price Performance

Shares of NYSE:IEX traded down $0.77 during midday trading on Tuesday, reaching $184.33. The company's stock had a trading volume of 422,089 shares, compared to its average volume of 495,769. The business's fifty day simple moving average is $199.73 and its 200-day simple moving average is $209.86. 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 fifty-two week low of $177.71 and a fifty-two week high of $245.70. The company has a market capitalization of $13.97 billion, a P/E ratio of 27.72, a P/E/G ratio of 1.98 and a beta of 0.99.

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 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%. As a group, equities research analysts expect that IDEX Co. will post 8.26 EPS for the current fiscal year.

IDEX 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.