IDEX Co. (NYSE:IEX) Holdings Raised by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. grew its holdings in shares of IDEX Co. (NYSE:IEX) by 17.7% during the fourth quarter, Holdings Channel reports. The firm owned 14,236 shares of the industrial products company’s stock after purchasing an additional 2,141 shares during the period. Daiwa Securities Group Inc.’s holdings in IDEX were worth $3,090,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Nordea Investment Management AB raised its holdings in shares of IDEX by 1,196.4% during the 4th quarter. Nordea Investment Management AB now owns 135,825 shares of the industrial products company’s stock valued at $29,598,000 after purchasing an additional 125,348 shares in the last quarter. Impax Asset Management Group plc raised its holdings in shares of IDEX by 4.0% during the 4th quarter. Impax Asset Management Group plc now owns 2,190,741 shares of the industrial products company’s stock valued at $475,632,000 after purchasing an additional 84,502 shares in the last quarter. Lincoln National Corp raised its holdings in shares of IDEX by 7.1% during the 3rd quarter. Lincoln National Corp now owns 1,564 shares of the industrial products company’s stock valued at $325,000 after purchasing an additional 104 shares in the last quarter. Deutsche Bank AG grew its stake in IDEX by 13.3% in the 3rd quarter. Deutsche Bank AG now owns 244,610 shares of the industrial products company’s stock valued at $50,884,000 after buying an additional 28,661 shares during the last quarter. Finally, Raymond James & Associates grew its stake in IDEX by 11.2% in the 4th quarter. Raymond James & Associates now owns 76,465 shares of the industrial products company’s stock valued at $16,601,000 after buying an additional 7,684 shares during the last quarter. Institutional investors own 97.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on IEX shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $255.00 target price on shares of IDEX in a research note on Thursday, March 21st. StockNews.com upgraded shares of IDEX from a “hold” rating to a “buy” rating in a research note on Tuesday, April 16th. Oppenheimer raised their price target on shares of IDEX from $245.00 to $252.00 and gave the stock an “outperform” rating in a research report on Thursday. Stifel Nicolaus upgraded shares of IDEX from a “hold” rating to a “buy” rating and raised their price target for the stock from $215.00 to $265.00 in a research report on Thursday, February 8th. Finally, Citigroup raised their price target on shares of IDEX from $254.00 to $277.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $238.78.

IDEX Price Performance

NYSE:IEX opened at $227.04 on Monday. The company has a 50-day moving average of $236.41 and a 200-day moving average of $216.14. The company has a market capitalization of $17.18 billion, a price-to-earnings ratio of 28.96, a PEG ratio of 2.27 and a beta of 0.97. IDEX Co. has a 52 week low of $183.76 and a 52 week high of $246.36. 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:IEX) last released its quarterly earnings data on Tuesday, February 6th. The industrial products company reported $1.83 EPS for the quarter, topping analysts’ consensus estimates of $1.78 by $0.05. The company had revenue of $788.90 million during the quarter, compared to the consensus estimate of $767.96 million. IDEX had a net margin of 18.21% and a return on equity of 18.56%. The firm’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same period last year, the firm earned $2.01 EPS. As a group, equities research analysts anticipate that IDEX Co. will post 8.34 earnings per share for the current fiscal year.

IDEX Company Profile

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.