Norges Bank Acquires Shares of 1,039,983 IDEX Co. (NYSE:IEX)

Norges Bank bought a new position in shares of IDEX Co. (NYSE:IEX - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 1,039,983 shares of the industrial products company's stock, valued at approximately $217,658,000. Norges Bank owned about 1.37% of IDEX as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of IEX. Jones Financial Companies Lllp grew its position in shares of IDEX by 35.2% during the 4th quarter. Jones Financial Companies Lllp now owns 407 shares of the industrial products company's stock worth $85,000 after buying an additional 106 shares during the period. Assetmark Inc. grew its holdings in IDEX by 129.1% in the fourth quarter. Assetmark Inc. now owns 417 shares of the industrial products company's stock worth $87,000 after purchasing an additional 235 shares during the period. Fred Alger Management LLC acquired a new stake in IDEX in the third quarter worth $89,000. Millburn Ridgefield Corp raised its holdings in shares of IDEX by 475.0% during the third quarter. Millburn Ridgefield Corp now owns 460 shares of the industrial products company's stock valued at $99,000 after purchasing an additional 380 shares during the period. Finally, BankPlus Trust Department bought a new position in shares of IDEX during the 4th quarter worth about $123,000. Institutional investors and hedge funds own 97.96% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on IEX. DA Davidson dropped 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. Royal Bank of Canada decreased their price objective on IDEX from $256.00 to $245.00 and set an "outperform" rating for the company in a report on Thursday, February 6th. Citigroup cut their target price on IDEX from $269.00 to $267.00 and set a "buy" rating on the stock in a report on Monday, January 13th. Finally, Stifel Nicolaus boosted their price target 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 investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $241.71.

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IDEX Stock Down 3.8 %

IDEX stock traded down $6.35 during trading on Friday, hitting $162.33. 1,053,470 shares of the company were exchanged, compared to its average volume of 533,805. The company has a market capitalization of $12.26 billion, a P/E ratio of 24.41, a PEG ratio of 1.98 and a beta of 1.05. The business's 50 day moving average is $192.73 and its 200 day moving average is $208.49. IDEX Co. has a 52 week low of $160.12 and a 52 week high of $241.97. The company has a current ratio of 2.53, a quick ratio of 1.85 and a debt-to-equity ratio of 0.49.

IDEX (NYSE:IEX - Get Free Report) last announced its earnings results on Tuesday, February 4th. The industrial products company reported $2.04 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%. Analysts predict 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.