KLP Kapitalforvaltning AS Buys Shares of 25,700 IDEX Co. (NYSE:IEX)

KLP Kapitalforvaltning AS acquired a new position in shares of IDEX Co. (NYSE:IEX - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 25,700 shares of the industrial products company's stock, valued at approximately $5,379,000.

Several other hedge funds have also modified their holdings of IEX. Jones Financial Companies Lllp raised its stake in IDEX by 35.2% during the fourth quarter. Jones Financial Companies Lllp now owns 407 shares of the industrial products company's stock valued at $85,000 after purchasing an additional 106 shares in the last quarter. Brooklyn Investment Group purchased a new stake in shares of IDEX during the 3rd quarter valued at about $86,000. Assetmark Inc. lifted its holdings in shares of IDEX by 129.1% in the 4th quarter. Assetmark Inc. now owns 417 shares of the industrial products company's stock valued at $87,000 after acquiring an additional 235 shares during the last quarter. Fred Alger Management LLC purchased a new position in shares of IDEX in the 3rd quarter worth approximately $89,000. Finally, Millburn Ridgefield Corp boosted its stake in IDEX by 475.0% during the third quarter. Millburn Ridgefield Corp now owns 460 shares of the industrial products company's stock worth $99,000 after buying an additional 380 shares during the period. 97.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

IEX has been the subject of several recent analyst reports. Royal Bank of Canada dropped their target price on IDEX from $256.00 to $245.00 and set an "outperform" rating for the company in a research report on Thursday, February 6th. Stifel Nicolaus boosted their price objective on IDEX from $244.00 to $256.00 and gave the company a "buy" rating in a report on Wednesday, December 11th. DA Davidson reduced their target price 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, Citigroup lowered their target price on shares of IDEX from $269.00 to $267.00 and set a "buy" rating for the company in a research note on Monday, January 13th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $241.71.

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IDEX Stock Down 1.7 %

Shares of IEX traded down $3.13 during midday trading on Friday, reaching $180.80. 370,464 shares of the stock were exchanged, compared to its average volume of 525,605. The company has a current ratio of 2.53, a quick ratio of 1.85 and a debt-to-equity ratio of 0.49. The company's 50 day moving average is $197.16 and its two-hundred day moving average is $209.40. The company has a market capitalization of $13.70 billion, a P/E ratio of 27.19, a PEG ratio of 1.98 and a beta of 0.99. IDEX Co. has a 52 week low of $177.71 and a 52 week high of $244.11.

IDEX (NYSE:IEX - Get Free Report) last posted its earnings results on Tuesday, February 4th. The industrial products company reported $2.04 EPS for the quarter, beating analysts' consensus estimates of $2.03 by $0.01. IDEX had a net margin of 15.45% and a return on equity of 16.08%. On average, sell-side analysts anticipate that IDEX Co. will post 8.26 earnings per share for the current year.

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.