Illinois Municipal Retirement Fund Increases Stake in IDEX Co. (NYSE:IEX)

Illinois Municipal Retirement Fund raised its stake in shares of IDEX Co. (NYSE:IEX - Free Report) by 57.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,015 shares of the industrial products company's stock after purchasing an additional 2,914 shares during the quarter. Illinois Municipal Retirement Fund's holdings in IDEX were worth $1,677,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of IDEX by 19.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,887 shares of the industrial products company's stock worth $1,696,000 after purchasing an additional 1,257 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in IDEX by 119.3% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 4,864 shares of the industrial products company's stock valued at $1,043,000 after acquiring an additional 2,646 shares during the period. abrdn plc increased its stake in shares of IDEX by 9.5% in the third quarter. abrdn plc now owns 50,183 shares of the industrial products company's stock worth $10,691,000 after acquiring an additional 4,340 shares during the period. Ceredex Value Advisors LLC raised its holdings in shares of IDEX by 4.8% during the third quarter. Ceredex Value Advisors LLC now owns 436,550 shares of the industrial products company's stock worth $93,640,000 after purchasing an additional 20,175 shares during the last quarter. Finally, BluePath Capital Management LLC acquired a new position in IDEX during the third quarter valued at $209,000. 97.96% of the stock is currently owned by institutional investors and hedge funds.

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Analyst Ratings Changes

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

IDEX Price Performance

Shares of NYSE:IEX traded down $0.49 during midday trading on Tuesday, reaching $188.05. 346,142 shares of the company's stock traded hands, compared to its average volume of 525,848. The company has a fifty day simple moving average of $207.18 and a two-hundred day simple moving average of $211.69. IDEX Co. has a 1 year low of $183.24 and a 1 year high of $246.36. The company has a market cap of $14.25 billion, a P/E ratio of 28.27, a PEG ratio of 1.98 and a beta of 0.97. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.85 and a current ratio of 2.53.

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%. Equities analysts predict 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.