AssuredPartners Investment Advisors LLC Acquires Shares of 1,843 IDEX Co. (NYSE:IEX)

AssuredPartners Investment Advisors LLC bought a new stake in IDEX Co. (NYSE:IEX) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm bought 1,843 shares of the industrial products company’s stock, valued at approximately $386,000.

Several other hedge funds and other institutional investors also recently modified their holdings of IEX. Brooklyn Investment Group acquired a new stake in IDEX in the third quarter valued at about $86,000. Jones Financial Companies Lllp boosted its stake in shares of IDEX by 35.2% in the 4th quarter. Jones Financial Companies Lllp now owns 407 shares of the industrial products company’s stock valued at $85,000 after purchasing an additional 106 shares in the last quarter. Fred Alger Management LLC bought a new stake in shares of IDEX during the 3rd quarter valued at approximately $89,000. Assetmark Inc. increased its position in IDEX by 129.1% during the 4th quarter. Assetmark Inc. now owns 417 shares of the industrial products company’s stock worth $87,000 after purchasing an additional 235 shares in the last quarter. Finally, Millburn Ridgefield Corp lifted its stake in IDEX by 475.0% in the 3rd quarter. Millburn Ridgefield Corp now owns 460 shares of the industrial products company’s stock valued at $99,000 after purchasing an additional 380 shares during the last quarter. Institutional investors own 97.96% of the company’s stock.

IDEX Price Performance

IDEX stock opened at $180.80 on Friday. The stock’s 50 day moving average is $197.16 and its 200 day moving average is $209.32. IDEX Co. has a one year low of $177.71 and a one year high of $244.11. The firm has a market cap of $13.70 billion, a P/E ratio of 27.19, a P/E/G ratio of 1.98 and a beta of 0.99. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.53 and a quick ratio of 1.85.

IDEX (NYSE:IEX) last issued its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $2.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.03 by $0.01. IDEX had a net margin of 15.45% and a return on equity of 16.08%. As a group, research analysts expect that IDEX Co. will post 8.26 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have recently issued reports on IEX shares. Citigroup lowered their price target on shares of IDEX from $269.00 to $267.00 and set a “buy” rating for the company in a report on Monday, January 13th. Stifel Nicolaus increased their target price on IDEX from $244.00 to $256.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. DA Davidson reduced their price target on IDEX from $225.00 to $215.00 and set a “neutral” rating on the stock in a report on Wednesday, February 19th. Finally, Royal Bank of Canada dropped their price objective on shares of IDEX from $256.00 to $245.00 and set an “outperform” rating for the company in a report on Thursday, February 6th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, IDEX currently has an average rating of “Moderate Buy” and an average target price of $241.71.

IDEX 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.