Newfound Research LLC decreased its holdings in IDEX Co. (NYSE:IEX) by 48.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 328 shares of the industrial products company’s stock after selling 314 shares during the quarter. Newfound Research LLC’s holdings in IDEX were worth $69,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of IEX. Perigon Wealth Management LLC purchased a new position in IDEX during the 4th quarter worth approximately $26,000. Pinnacle Bancorp Inc. purchased a new position in IDEX during the 1st quarter worth approximately $26,000. CWM LLC grew its position in IDEX by 112.7% during the 1st quarter. CWM LLC now owns 134 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 71 shares in the last quarter. SOA Wealth Advisors LLC. purchased a new position in IDEX during the 4th quarter worth approximately $29,000. Finally, Laurel Wealth Advisors LLC purchased a new position in IDEX during the 4th quarter worth approximately $30,000. Hedge funds and other institutional investors own 96.59% of the company’s stock.
A number of brokerages have issued reports on IEX. Zacks Investment Research raised shares of IDEX from a “hold” rating to a “buy” rating and set a $199.00 target price for the company in a research note on Friday, February 5th. Wells Fargo & Company lifted their target price on shares of IDEX from $240.00 to $260.00 and gave the company an “overweight” rating in a research note on Monday. Rosenblatt Securities lifted their target price on shares of IDEX from $225.00 to $255.00 and gave the company a “buy” rating in a research note on Monday. DA Davidson lifted their target price on shares of IDEX from $190.00 to $205.00 and gave the company a “neutral” rating in a research note on Thursday, April 29th. They noted that the move was a valuation call. Finally, Cowen lowered shares of IDEX from an “outperform” rating to a “market perform” rating and lifted their price objective for the company from $200.00 to $220.00 in a research note on Thursday, January 14th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. IDEX currently has an average rating of “Buy” and an average target price of $223.44.
Shares of NYSE:IEX traded up $3.15 on Tuesday, hitting $226.65. 5,384 shares of the company were exchanged, compared to its average volume of 450,204. The company’s 50 day moving average price is $213.57 and its two-hundred day moving average price is $198.87. IDEX Co. has a one year low of $141.86 and a one year high of $235.76. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.97 and a current ratio of 3.71. The firm has a market capitalization of $17.21 billion, a price-to-earnings ratio of 45.93, a PEG ratio of 3.53 and a beta of 1.08.
IDEX (NYSE:IEX) last posted its quarterly earnings data on Monday, April 26th. The industrial products company reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.10. IDEX had a net margin of 15.94% and a return on equity of 17.21%. The company had revenue of $652.04 million for the quarter, compared to the consensus estimate of $634.96 million. During the same quarter in the previous year, the firm posted $1.33 EPS. The business’s revenue was up 9.7% compared to the same quarter last year. Research analysts predict that IDEX Co. will post 5.15 earnings per share for the current year.
IDEX Company Profile
IDEX Corporation, together with its subsidiaries, operates as an applied solutions company 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, small volume provers, flow meters, injectors, and other fluid-handling pump modules and systems, as well as offers flow monitoring and other services for the food, chemical, general industrial, water and wastewater, agricultural, and energy industries.
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