CIBC Private Wealth Group LLC Increases Holdings in IDEX Co. (NYSE:IEX)

CIBC Private Wealth Group LLC lifted its position in shares of IDEX Co. (NYSE:IEXGet Rating) by 1.3% during the 3rd quarter, Holdings Channel.com reports. The fund owned 119,968 shares of the industrial products company’s stock after buying an additional 1,496 shares during the period. CIBC Private Wealth Group LLC’s holdings in IDEX were worth $23,977,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of IEX. Parkside Financial Bank & Trust boosted its stake in shares of IDEX by 120.3% during the 1st quarter. Parkside Financial Bank & Trust now owns 141 shares of the industrial products company’s stock worth $27,000 after acquiring an additional 77 shares in the last quarter. Allworth Financial LP lifted its stake in IDEX by 491.2% in the 3rd quarter. Allworth Financial LP now owns 201 shares of the industrial products company’s stock valued at $40,000 after buying an additional 167 shares in the last quarter. SeaCrest Wealth Management LLC purchased a new stake in IDEX in the 2nd quarter valued at approximately $49,000. Newfound Research LLC purchased a new stake in IDEX in the 3rd quarter valued at approximately $59,000. Finally, Covington Capital Management lifted its stake in IDEX by 120.7% in the 3rd quarter. Covington Capital Management now owns 331 shares of the industrial products company’s stock valued at $66,000 after buying an additional 181 shares in the last quarter. Hedge funds and other institutional investors own 96.58% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. DA Davidson upped their target price on IDEX from $220.00 to $225.00 in a research note on Tuesday, November 22nd. Stifel Nicolaus upped their target price on IDEX from $241.00 to $242.00 and gave the company a “hold” rating in a research note on Friday, January 20th. Citigroup reduced their target price on IDEX from $273.00 to $268.00 and set a “buy” rating on the stock in a research note on Thursday, February 2nd. Mizuho upped their target price on IDEX from $225.00 to $227.00 and gave the company a “neutral” rating in a research note on Thursday, February 2nd. Finally, Morgan Stanley boosted their price target on IDEX from $235.00 to $250.00 and gave the company an “overweight” rating in a report on Wednesday, January 18th. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, IDEX presently has a consensus rating of “Hold” and an average target price of $239.91.

IDEX Trading Up 2.3 %

Shares of IEX opened at $223.96 on Wednesday. The stock has a fifty day moving average of $228.84 and a two-hundred day moving average of $221.96. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.71 and a current ratio of 2.57. The company has a market capitalization of $16.91 billion, a PE ratio of 28.93, a price-to-earnings-growth ratio of 2.13 and a beta of 0.99. IDEX Co. has a fifty-two week low of $172.18 and a fifty-two week high of $246.23.

IDEX (NYSE:IEXGet Rating) last issued its quarterly earnings results on Wednesday, February 1st. The industrial products company reported $2.01 earnings per share for the quarter, beating the consensus estimate of $1.98 by $0.03. The company had revenue of $810.70 million during the quarter, compared to the consensus estimate of $772.75 million. IDEX had a return on equity of 21.44% and a net margin of 18.44%. IDEX’s revenue was up 13.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.55 EPS. As a group, analysts forecast that IDEX Co. will post 8.61 EPS for the current year.

Insider Transactions at IDEX

In other news, CFO William K. Grogan sold 3,181 shares of the company’s stock in a transaction on Thursday, February 9th. The stock was sold at an average price of $226.36, for a total transaction of $720,051.16. Following the completion of the sale, the chief financial officer now directly owns 13,864 shares in the company, valued at approximately $3,138,255.04. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.50% of the company’s stock.

IDEX Profile

(Get Rating)

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.

Further Reading

Want to see what other hedge funds are holding IEX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for IDEX Co. (NYSE:IEXGet Rating).

Institutional Ownership by Quarter for IDEX (NYSE:IEX)

Receive News & Ratings for IDEX Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for IDEX and related companies with MarketBeat.com's FREE daily email newsletter.