Pictet Asset Management Holding SA Increases Position in IDEX Co. (NYSE:IEX)

Pictet Asset Management Holding SA grew its holdings in IDEX Co. (NYSE:IEX - Free Report) by 6.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,620,252 shares of the industrial products company's stock after purchasing an additional 95,840 shares during the period. Pictet Asset Management Holding SA owned approximately 2.14% of IDEX worth $339,103,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Cerity Partners LLC increased its holdings in shares of IDEX by 48.3% in the third quarter. Cerity Partners LLC now owns 20,632 shares of the industrial products company's stock worth $4,426,000 after purchasing an additional 6,720 shares during the period. Larson Financial Group LLC bought a new stake in shares of IDEX during the 3rd quarter valued at about $173,000. DRW Securities LLC purchased a new position in shares of IDEX during the third quarter worth about $299,000. Bank of Montreal Can increased its holdings in shares of IDEX by 16.0% in the 3rd quarter. Bank of Montreal Can now owns 102,364 shares of the industrial products company's stock worth $22,006,000 after buying an additional 14,088 shares during the last quarter. Finally, Brooklyn Investment Group bought a new stake in shares of IDEX during the 3rd quarter worth $86,000. 97.96% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on IEX. Stifel Nicolaus increased their price objective on IDEX from $244.00 to $256.00 and gave the company a "buy" rating in a research report on Wednesday, December 11th. Citigroup reduced their price target on shares of 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 lowered their price objective on shares of IDEX from $225.00 to $215.00 and set a "neutral" rating for the company in a report on Wednesday, February 19th. Finally, Royal Bank of Canada reduced 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 issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $241.71.

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IDEX Stock Up 0.1 %

Shares of IEX traded up $0.12 during trading hours on Tuesday, hitting $181.09. The company had a trading volume of 119,112 shares, compared to its average volume of 556,752. IDEX Co. has a 52-week low of $176.39 and a 52-week high of $242.09. The firm has a fifty day moving average price of $196.47 and a 200-day moving average price of $209.37. The stock has a market capitalization of $13.68 billion, a price-to-earnings ratio of 27.23, a P/E/G ratio of 1.98 and a beta of 0.99. 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 announced its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $2.04 earnings per share 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%. On average, equities research analysts forecast that IDEX Co. will post 8.26 EPS for the current fiscal 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.