LPL Financial LLC Buys 870 Shares of IDEX Co. (NYSE:IEX)

LPL Financial LLC raised its stake in IDEX Co. (NYSE:IEX – Get Rating) by 12.4% in the fourth quarter, Holdings Channel.com reports. The firm owned 7,868 shares of the industrial products company’s stock after acquiring an additional 870 shares during the period. LPL Financial LLC’s holdings in IDEX were worth $1,797,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. Parkside Financial Bank & Trust boosted its holdings in IDEX by 120.3% in the 1st 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. bought a new stake in IDEX in the 4th quarter valued at $46,000. Harvest Fund Management Co. Ltd bought a new stake in IDEX in the 4th quarter valued at $66,000. Covington Capital Management boosted its holdings 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 purchasing an additional 181 shares during the period. Finally, MADDEN SECURITIES Corp bought a new position in shares of IDEX during the 4th quarter worth about $91,000. 96.58% of the stock is owned by institutional investors.

IDEX Trading Down 2.0 %

Shares of NYSE IEX opened at $204.58 on Wednesday. IDEX Co. has a 1-year low of $172.18 and a 1-year high of $246.23. The company has a market cap of $15.46 billion, a PE ratio of 26.50, a P/E/G ratio of 2.01 and a beta of 1.00. The company has a current ratio of 3.10, a quick ratio of 2.09 and a debt-to-equity ratio of 0.46. The company has a 50-day moving average of $215.19 and a two-hundred day moving average of $225.00.

IDEX (NYSE:IEX – Get Rating) last announced its earnings results on Wednesday, April 26th. The industrial products company reported $2.09 earnings per share for the quarter, topping analysts’ consensus estimates of $2.02 by $0.07. IDEX had a net margin of 17.91% and a return on equity of 21.14%. The company had revenue of $845.40 million during the quarter, compared to the consensus estimate of $818.87 million. During the same period in the previous year, the firm posted $1.96 earnings per share. The company’s revenue was up 12.6% on a year-over-year basis. As a group, equities analysts expect that IDEX Co. will post 8.49 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

IEX has been the subject of a number of analyst reports. Royal Bank of Canada reduced their price objective on shares of IDEX from $252.00 to $243.00 in a report on Friday, April 28th. Robert W. Baird reduced their price objective on shares of IDEX from $255.00 to $230.00 in a report on Friday, April 28th. StockNews.com raised shares of IDEX from a “hold” rating to a “buy” rating in a report on Friday, May 19th. Citigroup dropped their target price on shares of IDEX from $273.00 to $268.00 and set a “buy” rating for the company in a research report on Thursday, February 2nd. Finally, Mizuho dropped their target price on shares of IDEX from $227.00 to $200.00 in a research report on Friday, April 28th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $236.17.

About IDEX

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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.