Avior Wealth Management LLC Has $505,000 Stock Position in IDEX Co. (NYSE:IEX)

Avior Wealth Management LLC raised its stake in IDEX Co. (NYSE:IEX) by 5.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,327 shares of the industrial products company’s stock after acquiring an additional 117 shares during the quarter. Avior Wealth Management LLC’s holdings in IDEX were worth $505,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Morgan Stanley increased its holdings in shares of IDEX by 274.1% in the fourth quarter. Morgan Stanley now owns 2,151,334 shares of the industrial products company’s stock valued at $491,214,000 after purchasing an additional 1,576,263 shares in the last quarter. Norges Bank bought a new position in IDEX in the 4th quarter valued at $226,556,000. Alecta Tjanstepension Omsesidigt increased its stake in shares of IDEX by 420.8% in the 4th quarter. Alecta Tjanstepension Omsesidigt now owns 781,172 shares of the industrial products company’s stock valued at $169,600,000 after buying an additional 631,172 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of IDEX by 10.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,269,952 shares of the industrial products company’s stock worth $746,628,000 after acquiring an additional 306,008 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its stake in shares of IDEX by 316.9% during the third quarter. Ameriprise Financial Inc. now owns 368,849 shares of the industrial products company’s stock valued at $76,667,000 after acquiring an additional 280,385 shares during the period. 97.96% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Stifel Nicolaus raised IDEX from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $215.00 to $265.00 in a report on Thursday, February 8th. StockNews.com raised shares of IDEX from a “hold” rating to a “buy” rating in a research note on Tuesday. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $255.00 price objective on shares of IDEX in a research note on Thursday, March 21st. Citigroup lifted 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. Finally, Oppenheimer increased their price target on IDEX from $245.00 to $252.00 and gave the company an “outperform” rating in a research note on Thursday. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $238.78.

IDEX Stock Down 0.3 %

Shares of NYSE IEX opened at $226.10 on Friday. 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. The stock has a market cap of $17.11 billion, a P/E ratio of 28.84, a P/E/G ratio of 2.27 and a beta of 0.97. The firm has a 50 day moving average price of $236.43 and a 200 day moving average price of $215.88.

IDEX (NYSE:IEX) last announced its quarterly earnings results on Tuesday, February 6th. The industrial products company reported $1.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.78 by $0.05. The company had revenue of $788.90 million during the quarter, compared to analyst estimates of $767.96 million. IDEX had a net margin of 18.21% and a return on equity of 18.56%. The firm’s revenue was down 2.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.01 EPS. Analysts expect that IDEX Co. will post 8.34 EPS for the current 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.