International Assets Investment Management LLC Purchases New Shares in IDEX Co. (NYSE:IEX)

International Assets Investment Management LLC purchased a new stake in IDEX Co. (NYSE:IEX) during the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 2,388 shares of the industrial products company’s stock, valued at approximately $518,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Avior Wealth Management LLC grew its stake in shares of IDEX by 2.3% in the third quarter. Avior Wealth Management LLC now owns 2,210 shares of the industrial products company’s stock valued at $460,000 after acquiring an additional 49 shares in the last quarter. CWM LLC lifted its position in IDEX by 3.1% during the third quarter. CWM LLC now owns 1,719 shares of the industrial products company’s stock worth $358,000 after purchasing an additional 52 shares during the period. Commonwealth Equity Services LLC lifted its position in IDEX by 1.3% during the third quarter. Commonwealth Equity Services LLC now owns 4,289 shares of the industrial products company’s stock worth $892,000 after purchasing an additional 53 shares during the period. DB Fitzpatrick & Co Inc lifted its position in IDEX by 2.1% during the third quarter. DB Fitzpatrick & Co Inc now owns 2,766 shares of the industrial products company’s stock worth $575,000 after purchasing an additional 56 shares during the period. Finally, Jacobson & Schmitt Advisors LLC lifted its position in IDEX by 5.0% during the third quarter. Jacobson & Schmitt Advisors LLC now owns 1,242 shares of the industrial products company’s stock worth $258,000 after purchasing an additional 59 shares during the period. 97.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on IEX shares. Stifel Nicolaus raised shares of 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 research report on Thursday, February 8th. Robert W. Baird cut their price objective on shares of IDEX from $260.00 to $256.00 and set an “outperform” rating for the company in a research report on Thursday. Oppenheimer upped their price objective on shares of IDEX from $245.00 to $252.00 and gave the stock an “outperform” rating in a research report on Thursday, April 18th. Royal Bank of Canada reissued an “outperform” rating and issued a $255.00 target price on shares of IDEX in a report on Thursday, March 21st. Finally, Citigroup increased their target price on shares of IDEX from $254.00 to $277.00 and gave the stock a “buy” rating in a report on Monday, April 8th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $241.67.

IDEX Stock Down 0.6 %

Shares of NYSE IEX opened at $223.29 on Friday. The company has a 50 day simple moving average of $236.49 and a 200 day simple moving average of $216.60. The firm has a market cap of $16.90 billion, a PE ratio of 29.38, a price-to-earnings-growth ratio of 2.32 and a beta of 0.97. IDEX Co. has a 1 year low of $183.76 and a 1 year high of $246.36. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.89 and a quick ratio of 2.05.

IDEX (NYSE:IEX) last issued its quarterly earnings data on Tuesday, April 23rd. The industrial products company reported $1.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.76 by $0.12. The business had revenue of $801.00 million during the quarter, compared to analyst estimates of $807.52 million. IDEX had a net margin of 17.89% and a return on equity of 17.88%. The firm’s quarterly revenue was down 5.3% on a year-over-year basis. During the same quarter last year, the business earned $2.09 EPS. On average, research analysts forecast that IDEX Co. will post 8.34 EPS for the current year.

About IDEX

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.