Sumitomo Mitsui Trust Group Inc. Purchases 4,078 Shares of IDEX Co. (NYSE:IEX)

Sumitomo Mitsui Trust Group Inc. boosted its position in IDEX Co. (NYSE:IEX) by 2.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 172,101 shares of the industrial products company’s stock after acquiring an additional 4,078 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.23% of IDEX worth $36,019,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. State Street Corp boosted its position in IDEX by 0.5% during the third quarter. State Street Corp now owns 3,017,976 shares of the industrial products company’s stock valued at $647,356,000 after buying an additional 15,077 shares during the period. Wellington Management Group LLP boosted its position in IDEX by 108.4% during the third quarter. Wellington Management Group LLP now owns 2,830,929 shares of the industrial products company’s stock valued at $607,234,000 after buying an additional 1,472,456 shares during the period. Geode Capital Management LLC boosted its position in IDEX by 1.3% during the third quarter. Geode Capital Management LLC now owns 1,891,175 shares of the industrial products company’s stock valued at $404,339,000 after buying an additional 23,388 shares during the period. Champlain Investment Partners LLC boosted its position in IDEX by 28.8% during the third quarter. Champlain Investment Partners LLC now owns 1,223,676 shares of the industrial products company’s stock valued at $262,479,000 after buying an additional 273,460 shares during the period. Finally, Barclays PLC boosted its position in IDEX by 1.2% during the third quarter. Barclays PLC now owns 1,177,645 shares of the industrial products company’s stock valued at $252,603,000 after buying an additional 14,360 shares during the period. Institutional investors own 97.96% of the company’s stock.

IDEX Stock Down 0.8 %

NYSE IEX opened at $194.90 on Wednesday. The business’s 50-day moving average is $214.86 and its 200 day moving average is $211.87. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.53 and a quick ratio of 2.11. The stock has a market capitalization of $14.76 billion, a PE ratio of 29.31, a PEG ratio of 1.98 and a beta of 0.97. IDEX Co. has a 1 year low of $189.51 and a 1 year high of $246.36.

IDEX (NYSE:IEX) last posted its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $2.04 earnings per share for the quarter, beating the consensus estimate of $2.03 by $0.01. IDEX had a return on equity of 16.08% and a net margin of 15.45%. Sell-side analysts forecast that IDEX Co. will post 8.37 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Citigroup cut their price target on shares of IDEX from $269.00 to $267.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Robert W. Baird dropped their target price on shares of IDEX from $245.00 to $241.00 and set an “outperform” rating for the company in a report on Thursday, October 31st. Stifel Nicolaus raised their target price on IDEX from $244.00 to $256.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Finally, Royal Bank of Canada cut their target price on IDEX from $256.00 to $245.00 and set an “outperform” rating on the stock in a research note on Thursday, February 6th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $241.00.

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.