State Board of Administration of Florida Retirement System Lowers Holdings in IDEX Co. (NYSE:IEX)

State Board of Administration of Florida Retirement System cut its holdings in IDEX Co. (NYSE:IEXFree Report) by 8.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 80,690 shares of the industrial products company’s stock after selling 7,917 shares during the period. State Board of Administration of Florida Retirement System owned 0.11% of IDEX worth $16,785,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. HighTower Advisors LLC lifted its holdings in IDEX by 4.6% in the 3rd quarter. HighTower Advisors LLC now owns 14,959 shares of the industrial products company’s stock worth $3,099,000 after purchasing an additional 663 shares in the last quarter. Pathstone Family Office LLC raised its holdings in shares of IDEX by 75.5% during the 3rd quarter. Pathstone Family Office LLC now owns 2,484 shares of the industrial products company’s stock worth $517,000 after acquiring an additional 1,069 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its holdings in shares of IDEX by 6.0% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 5,230 shares of the industrial products company’s stock worth $1,088,000 after acquiring an additional 295 shares in the last quarter. Van ECK Associates Corp raised its holdings in shares of IDEX by 3.4% during the 3rd quarter. Van ECK Associates Corp now owns 9,830 shares of the industrial products company’s stock worth $2,045,000 after acquiring an additional 326 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of IDEX by 1.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 593,542 shares of the industrial products company’s stock worth $123,469,000 after acquiring an additional 7,559 shares in the last quarter. 94.85% of the stock is owned by hedge funds and other institutional investors.

IDEX Stock Performance

NYSE:IEX opened at $228.20 on Monday. The stock’s fifty day moving average is $211.81 and its 200 day moving average is $209.72. IDEX Co. has a fifty-two week low of $183.76 and a fifty-two week high of $231.61. The firm has a market capitalization of $17.26 billion, a PE ratio of 29.11, a PEG ratio of 2.29 and a beta of 0.96. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.05 and a current ratio of 2.89.

IDEX (NYSE:IEXGet Free Report) last announced its quarterly earnings data on Tuesday, February 6th. The industrial products company reported $1.83 EPS for the quarter, beating the consensus estimate of $1.78 by $0.05. The company had revenue of $788.90 million for the quarter, compared to the consensus estimate of $767.96 million. IDEX had a return on equity of 18.56% and a net margin of 18.21%. IDEX’s quarterly revenue was down 2.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.01 EPS. On average, sell-side analysts anticipate that IDEX Co. will post 8.31 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on IEX shares. Royal Bank of Canada upped their price objective on IDEX from $234.00 to $255.00 and gave the stock an “outperform” rating in a report on Thursday. Oppenheimer reaffirmed an “outperform” rating and set a $245.00 price objective on shares of IDEX in a report on Thursday, October 19th. Finally, Stifel Nicolaus raised IDEX from a “hold” rating to a “buy” rating and upped their price objective for the stock from $215.00 to $265.00 in a report on Thursday. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $235.56.

Read Our Latest Research Report on IDEX

IDEX Profile

(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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Institutional Ownership by Quarter for IDEX (NYSE:IEX)

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