IDEX Co. (NYSE:IEX) Stake Lifted by LPL Financial LLC

LPL Financial LLC lifted its holdings in shares of IDEX Co. (NYSE:IEX - Free Report) by 13.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 19,702 shares of the industrial products company's stock after purchasing an additional 2,363 shares during the quarter. LPL Financial LLC's holdings in IDEX were worth $4,123,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Allianz Asset Management GmbH boosted its stake 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 worth $85,105,000 after buying an additional 232,255 shares during the last quarter. Corient Private Wealth LLC boosted its position in shares of IDEX by 237.1% in the fourth 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 during the last quarter. Raymond James Financial Inc. purchased a new stake in IDEX in the fourth quarter valued at approximately $35,375,000. Johnson Investment Counsel Inc. increased its position 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 worth $53,336,000 after purchasing an additional 163,283 shares during the last quarter. Finally, Proficio Capital Partners LLC purchased a new position in shares of IDEX in the 4th quarter worth $10,212,000. Hedge funds and other institutional investors own 97.96% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. DA Davidson reduced their price target on shares of IDEX from $225.00 to $215.00 and set a "neutral" rating on the stock in a research report 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 for the company in a research report on Thursday, February 6th. Citigroup dropped their price objective on shares of IDEX from $264.00 to $201.00 and set a "buy" rating on the stock in a research note on Monday. Finally, Stifel Nicolaus cut 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. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $223.14.

Remove Ads

IDEX Stock Down 0.6 %

NYSE:IEX traded down $0.94 during mid-day trading on Tuesday, reaching $168.92. The stock had a trading volume of 64,886 shares, compared to its average volume of 610,389. The stock's 50 day simple moving average is $184.61 and its two-hundred day simple moving average is $206.10. IDEX Co. has a 1-year low of $153.36 and a 1-year high of $238.22. The company has a market capitalization of $12.76 billion, a price-to-earnings ratio of 25.40, a price-to-earnings-growth ratio of 1.98 and a beta of 1.05. 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 (NYSE:IEX - Get Free Report) last posted its quarterly earnings results 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 return on equity of 16.08% and a net margin of 15.45%. Equities analysts anticipate that IDEX Co. will post 8.26 EPS for the current year.

About IDEX

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.