PNC Financial Services Group Inc. grew its stake in shares of IDEX Co. (NYSE:IEX - Free Report) by 35.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 29,438 shares of the industrial products company's stock after purchasing an additional 7,761 shares during the period. PNC Financial Services Group Inc.'s holdings in IDEX were worth $6,161,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of IEX. Studio Investment Management LLC lifted its stake in IDEX by 4.9% in the 3rd quarter. Studio Investment Management LLC now owns 955 shares of the industrial products company's stock worth $205,000 after acquiring an additional 45 shares in the last quarter. Bleakley Financial Group LLC lifted its stake in IDEX by 4.1% in the 4th quarter. Bleakley Financial Group LLC now owns 1,214 shares of the industrial products company's stock worth $254,000 after acquiring an additional 48 shares in the last quarter. Albert D Mason Inc. lifted its stake in IDEX by 1.3% in the 4th quarter. Albert D Mason Inc. now owns 4,532 shares of the industrial products company's stock worth $948,000 after acquiring an additional 56 shares in the last quarter. Diversified Trust Co lifted its stake in IDEX by 1.0% in the 4th quarter. Diversified Trust Co now owns 6,210 shares of the industrial products company's stock worth $1,300,000 after acquiring an additional 59 shares in the last quarter. Finally, Blackston Financial Advisory Group LLC lifted its stake in IDEX by 2.7% in the 4th quarter. Blackston Financial Advisory Group LLC now owns 2,299 shares of the industrial products company's stock worth $481,000 after acquiring an additional 60 shares in the last quarter. 97.96% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
IEX has been the subject of a number of recent research reports. Stifel Nicolaus raised their price target on IDEX from $244.00 to $256.00 and gave the stock a "buy" rating in a research note on Wednesday, December 11th. DA Davidson cut their price target on IDEX from $225.00 to $215.00 and set a "neutral" rating for the company in a research note on Wednesday, February 19th. Royal Bank of Canada cut their price target on IDEX from $256.00 to $245.00 and set an "outperform" rating for the company in a research note on Thursday, February 6th. Finally, Citigroup cut their price target on IDEX from $269.00 to $267.00 and set a "buy" rating for the company in a research note on Monday, January 13th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $241.71.
Get Our Latest Stock Analysis on IEX
IDEX Stock Up 2.4 %
Shares of NYSE IEX traded up $4.24 during mid-day trading on Friday, reaching $182.47. 554,632 shares of the company traded hands, compared to its average volume of 490,012. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.85 and a current ratio of 2.53. The stock has a market cap of $13.83 billion, a PE ratio of 27.44, a price-to-earnings-growth ratio of 1.98 and a beta of 0.99. The company's fifty day moving average is $202.65 and its two-hundred day moving average is $210.60. IDEX Co. has a fifty-two week low of $177.71 and a fifty-two week high of $246.36.
IDEX (NYSE:IEX - Get Free Report) last released its earnings results on Tuesday, February 4th. The industrial products company reported $2.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.03 by $0.01. IDEX had a return on equity of 16.08% and a net margin of 15.45%. On average, analysts expect that IDEX Co. will post 8.26 earnings per share for the current year.
About IDEX
(
Free Report)
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.
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