PNC Financial Services Group Inc. Buys 7,761 Shares of IDEX Co. (NYSE:IEX)

PNC Financial Services Group Inc. boosted its stake in shares of IDEX Co. (NYSE:IEX) by 35.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 29,438 shares of the industrial products company’s stock after acquiring an additional 7,761 shares during the quarter. PNC Financial Services Group Inc.’s holdings in IDEX were worth $6,161,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Assetmark Inc. bought a new stake in IDEX during the 3rd quarter worth about $39,000. Jones Financial Companies Lllp grew its holdings in IDEX by 35.2% during the 4th quarter. Jones Financial Companies Lllp now owns 407 shares of the industrial products company’s stock worth $85,000 after acquiring an additional 106 shares during the last quarter. Brooklyn Investment Group bought a new stake in IDEX during the 3rd quarter worth about $86,000. Fred Alger Management LLC bought a new stake in IDEX during the 3rd quarter worth about $89,000. Finally, Millburn Ridgefield Corp boosted its stake in shares of 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 Stock Performance

Shares of NYSE:IEX opened at $181.96 on Thursday. The company has a market capitalization of $13.79 billion, a price-to-earnings ratio of 27.36, a P/E/G ratio of 1.98 and a beta of 0.99. The firm’s 50 day simple moving average is $203.70 and its 200 day simple moving average is $210.93. 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 Co. has a fifty-two week low of $181.09 and a fifty-two week high of $246.36.

IDEX (NYSE:IEX) last announced its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $2.04 earnings per share for the quarter, beating 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, sell-side analysts forecast that IDEX Co. will post 8.26 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. DA Davidson reduced their target price on shares of IDEX from $225.00 to $215.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 19th. Citigroup reduced their target price on shares of IDEX from $269.00 to $267.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Stifel Nicolaus raised their target price on shares of IDEX from $244.00 to $256.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Finally, Royal Bank of Canada reduced their target price on shares of 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 issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $241.71.

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.