Commonwealth Equity Services LLC Boosts Stake in IDEX Co. (NYSE:IEX)

Commonwealth Equity Services LLC raised its position in IDEX Co. (NYSE:IEXGet Rating) by 17.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,488 shares of the industrial products company’s stock after purchasing an additional 654 shares during the quarter. Commonwealth Equity Services LLC’s holdings in IDEX were worth $1,024,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Parkside Financial Bank & Trust raised its stake in shares of IDEX by 120.3% during the first quarter. Parkside Financial Bank & Trust now owns 141 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 77 shares during the period. General Partner Inc. purchased a new stake in shares of IDEX during the fourth quarter valued at approximately $46,000. Harvest Fund Management Co. Ltd purchased a new stake in shares of IDEX during the fourth quarter valued at approximately $66,000. Covington Capital Management raised its stake in shares of IDEX by 120.7% during the third quarter. Covington Capital Management now owns 331 shares of the industrial products company’s stock valued at $66,000 after purchasing an additional 181 shares during the period. Finally, MADDEN SECURITIES Corp bought a new stake in shares of IDEX in the fourth quarter worth $91,000. 96.58% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on IEX. Mizuho dropped their price target on shares of IDEX from $227.00 to $200.00 in a research note on Friday, April 28th. Citigroup dropped their price target on shares of IDEX from $273.00 to $268.00 and set a “buy” rating for the company in a research note on Thursday, February 2nd. Oppenheimer lifted their price objective on shares of IDEX from $245.00 to $247.00 and gave the stock an “outperform” rating in a report on Thursday, February 2nd. Robert W. Baird decreased their price objective on shares of IDEX from $255.00 to $230.00 in a report on Friday, April 28th. Finally, StockNews.com raised shares of IDEX from a “hold” rating to a “buy” rating in a report on Friday. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $236.17.

IDEX Trading Down 0.1 %

NYSE:IEX opened at $204.99 on Monday. The company has a debt-to-equity ratio of 0.46, a current ratio of 3.10 and a quick ratio of 2.09. IDEX Co. has a fifty-two week low of $172.18 and a fifty-two week high of $246.23. The stock’s 50-day moving average is $215.78 and its two-hundred day moving average is $225.21. The stock has a market cap of $15.49 billion, a PE ratio of 26.55, a price-to-earnings-growth ratio of 2.01 and a beta of 1.00.

IDEX (NYSE:IEXGet Rating) last announced its quarterly earnings results 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. The business had revenue of $845.40 million during the quarter, compared to analysts’ expectations of $818.87 million. IDEX had a return on equity of 21.14% and a net margin of 17.91%. The firm’s quarterly revenue was up 12.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.96 EPS. As a group, equities research analysts forecast that IDEX Co. will post 8.49 earnings per share for the current fiscal year.

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.

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Institutional Ownership by Quarter for IDEX (NYSE:IEX)

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