Resona Asset Management Co. Ltd. purchased a new stake in IDEX Co. (NYSE:IEX - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 23,167 shares of the industrial products company's stock, valued at approximately $4,854,000.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Bleakley Financial Group LLC grew its position in shares of IDEX by 4.1% during the 4th quarter. Bleakley Financial Group LLC now owns 1,214 shares of the industrial products company's stock worth $254,000 after buying an additional 48 shares during the period. Albert D Mason Inc. lifted its stake in IDEX by 1.3% in the fourth quarter. Albert D Mason Inc. now owns 4,532 shares of the industrial products company's stock valued at $948,000 after buying an additional 56 shares during the period. Diversified Trust Co raised its position in shares of IDEX by 1.0% in the 4th quarter. Diversified Trust Co now owns 6,210 shares of the industrial products company's stock valued at $1,300,000 after acquiring an additional 59 shares during the period. Blackston Financial Advisory Group LLC grew its stake in IDEX by 2.7% in the fourth quarter. Blackston Financial Advisory Group LLC now owns 2,299 shares of the industrial products company's stock valued at $481,000 after acquiring an additional 60 shares during the period. Finally, Signal Advisors Wealth LLC raised its holdings in shares of IDEX by 3.6% during the fourth quarter. Signal Advisors Wealth LLC now owns 1,822 shares of the industrial products company's stock worth $381,000 after acquiring an additional 63 shares during the period. 97.96% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
Several brokerages have issued reports on IEX. Royal Bank of Canada lowered their price target on shares of IDEX from $256.00 to $245.00 and set an "outperform" rating on the stock in a research note on Thursday, February 6th. DA Davidson lowered their price target on IDEX from $225.00 to $215.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 19th. Citigroup lowered their price target on IDEX from $269.00 to $267.00 and set a "buy" rating on the stock in a research report on Monday, January 13th. Finally, Stifel Nicolaus decreased 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 equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, IDEX currently has a consensus rating of "Moderate Buy" and a consensus price target of $232.57.
View Our Latest Stock Report on IEX
IDEX Price Performance
Shares of IEX stock traded up $1.26 during trading on Monday, hitting $169.77. The company had a trading volume of 66,072 shares, compared to its average volume of 551,345. The stock's 50-day moving average price is $185.17 and its 200 day moving average price is $206.42. IDEX Co. has a one year low of $153.36 and a one year high of $238.22. 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 firm has a market capitalization of $12.83 billion, a P/E ratio of 25.53, a price-to-earnings-growth ratio of 1.98 and a beta of 1.05.
IDEX (NYSE:IEX - Get Free Report) last posted its quarterly 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 return on equity of 16.08% and a net margin of 15.45%. Equities analysts expect that IDEX Co. will post 8.26 EPS for the current fiscal 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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