HighTower Advisors LLC Grows Holdings in IDEX Co. (NYSE:IEX)

HighTower Advisors LLC grew its holdings in IDEX Co. (NYSE:IEX – Get Rating) by 2.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,912 shares of the industrial products company’s stock after purchasing an additional 233 shares during the period. HighTower Advisors LLC’s holdings in IDEX were worth $2,722,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Prudential PLC grew its position in shares of IDEX by 116.6% during the 4th quarter. Prudential PLC now owns 4,211 shares of the industrial products company’s stock worth $961,000 after buying an additional 2,267 shares in the last quarter. Mercer Global Advisors Inc. ADV grew its position in shares of IDEX by 93.9% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 4,086 shares of the industrial products company’s stock worth $933,000 after buying an additional 1,979 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its position in shares of IDEX by 19.1% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 5,227 shares of the industrial products company’s stock worth $1,194,000 after buying an additional 837 shares in the last quarter. Machina Capital S.A.S. bought a new position in shares of IDEX during the 4th quarter worth $234,000. Finally, Sentry Investment Management LLC grew its position in shares of IDEX by 82.8% during the 4th quarter. Sentry Investment Management LLC now owns 1,400 shares of the industrial products company’s stock worth $320,000 after buying an additional 634 shares in the last quarter. Hedge funds and other institutional investors own 96.58% of the company’s stock.

IDEX Stock Up 1.8 %

Shares of IEX stock opened at $208.68 on Tuesday. The stock has a 50 day moving average of $215.58 and a 200 day moving average of $225.12. The company has a current ratio of 3.10, a quick ratio of 2.09 and a debt-to-equity ratio of 0.46. The stock has a market cap of $15.77 billion, a P/E ratio of 27.03, a P/E/G ratio of 2.01 and a beta of 1.00. IDEX Co. has a twelve month low of $172.18 and a twelve month high of $246.23.

IDEX (NYSE:IEX – Get Rating) last issued its quarterly earnings data on Wednesday, April 26th. The industrial products company reported $2.09 EPS for the quarter, beating the consensus estimate of $2.02 by $0.07. IDEX had a return on equity of 21.14% and a net margin of 17.91%. The company had revenue of $845.40 million for the quarter, compared to analyst estimates of $818.87 million. During the same period last year, the company earned $1.96 earnings per share. IDEX’s quarterly revenue was up 12.6% compared to the same quarter last year. As a group, sell-side analysts expect that IDEX Co. will post 8.49 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on IEX shares. Royal Bank of Canada dropped their price objective on IDEX from $252.00 to $243.00 in a research report on Friday, April 28th. Sanford C. Bernstein dropped their price objective on IDEX from $225.00 to $220.00 in a research report on Friday, April 28th. Stifel Nicolaus raised their price objective on IDEX from $242.00 to $246.00 and gave the company a “hold” rating in a research report on Monday, April 17th. Oppenheimer raised their price objective on IDEX from $245.00 to $247.00 and gave the company an “outperform” rating in a research report on Thursday, February 2nd. Finally, Robert W. Baird lowered their price target on IDEX from $255.00 to $230.00 in a report on Friday, April 28th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $236.17.

IDEX Company Profile

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IDEX Corp. engages in the provision of engineering solutions. It operates through the following segments: Fluid and Metering Technologies, Health and Science Technologies, and Fire and Safety or Diversified Products. The Fluid and Metering Technologies segment is involved in the design, production, and distribution of displacement pumps, valves, flow meters, injectors, and fluid-handling pump modules and systems.