IDEX Co. (NYSE:IEX) is Weitz Investment Management Inc.'s 8th Largest Position

Weitz Investment Management Inc. grew its position in shares of IDEX Co. (NYSE:IEX - Free Report) by 16.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 330,500 shares of the industrial products company's stock after purchasing an additional 47,850 shares during the period. IDEX makes up approximately 3.6% of Weitz Investment Management Inc.'s investment portfolio, making the stock its 8th biggest position. Weitz Investment Management Inc. owned 0.44% of IDEX worth $69,170,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in IEX. Wellington Management Group LLP grew its position in IDEX by 108.4% in the 3rd quarter. Wellington Management Group LLP now owns 2,830,929 shares of the industrial products company's stock valued at $607,234,000 after acquiring an additional 1,472,456 shares during the last quarter. Norges Bank bought a new stake in IDEX during the 4th quarter valued at about $217,658,000. Allianz Asset Management GmbH boosted its position in IDEX by 133.2% in the 4th quarter. Allianz Asset Management GmbH now owns 406,637 shares of the industrial products company's stock valued at $85,105,000 after buying an additional 232,255 shares during the period. Corient Private Wealth LLC grew its stake in IDEX by 237.1% in the 4th quarter. Corient Private Wealth LLC now owns 256,769 shares of the industrial products company's stock worth $53,740,000 after acquiring an additional 180,601 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of IDEX during the fourth quarter worth approximately $35,375,000. 97.96% of the stock is owned by institutional investors.

Remove Ads

Wall Street Analyst Weigh In

IEX has been the topic of several research analyst reports. Stifel Nicolaus increased their price objective on IDEX from $244.00 to $256.00 and gave the stock a "buy" rating in a research note on Wednesday, December 11th. 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. DA Davidson cut their price target on IDEX from $225.00 to $215.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 19th. Finally, Royal Bank of Canada dropped their target price on shares of IDEX from $256.00 to $245.00 and set an "outperform" rating on the stock in a report on Thursday, February 6th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, IDEX presently has a consensus rating of "Moderate Buy" and an average target price of $241.71.

IDEX Stock Down 3.8 %

Shares of IDEX stock traded down $6.35 during trading on Friday, reaching $162.33. The company's stock had a trading volume of 1,053,470 shares, compared to its average volume of 534,817. The company has a 50-day simple moving average of $192.73 and a two-hundred day simple moving average of $208.52. IDEX Co. has a 1-year low of $160.13 and a 1-year high of $241.97. The company has a market cap of $12.26 billion, a price-to-earnings ratio of 24.41, a P/E/G 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.

IDEX (NYSE:IEX - Get Free Report) last issued its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $2.04 earnings per share for the quarter, topping analysts' consensus estimates of $2.03 by $0.01. IDEX had a return on equity of 16.08% and a net margin of 15.45%. As a group, equities analysts forecast that IDEX Co. will post 8.26 earnings per share for the current 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.