California Public Employees Retirement System Purchases 5,093 Shares of IDEX Co. (NYSE:IEX)

California Public Employees Retirement System raised its stake in shares of IDEX Co. (NYSE:IEX) by 1.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 269,023 shares of the industrial products company’s stock after purchasing an additional 5,093 shares during the period. California Public Employees Retirement System owned 0.36% of IDEX worth $58,408,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Impax Asset Management Group plc grew its stake in shares of IDEX by 4.0% in the 4th quarter. Impax Asset Management Group plc now owns 2,190,741 shares of the industrial products company’s stock valued at $475,632,000 after buying an additional 84,502 shares during the period. Barclays PLC boosted its stake in IDEX by 3.3% during the 3rd quarter. Barclays PLC now owns 1,143,583 shares of the industrial products company’s stock valued at $237,890,000 after purchasing an additional 36,928 shares during the last quarter. Northern Trust Corp boosted its stake in shares of IDEX by 6.1% in the 3rd quarter. Northern Trust Corp now owns 785,716 shares of the industrial products company’s stock worth $163,445,000 after buying an additional 45,120 shares during the last quarter. Alecta Tjanstepension Omsesidigt boosted 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 worth $169,600,000 after buying an additional 631,172 shares during the last quarter. Finally, Fenimore Asset Management Inc. boosted its stake in shares of IDEX by 3.9% in the 3rd quarter. Fenimore Asset Management Inc. now owns 773,412 shares of the industrial products company’s stock worth $160,885,000 after buying an additional 29,258 shares during the last quarter. 97.96% of the stock is owned by institutional investors.

IDEX Price Performance

IEX stock opened at $223.29 on Friday. IDEX Co. has a 1 year low of $183.76 and a 1 year high of $246.36. The company has a market cap of $16.90 billion, a P/E ratio of 29.38, a PEG ratio of 2.24 and a beta of 0.97. The firm has a 50-day moving average of $236.49 and a 200 day moving average of $216.60. The company has a debt-to-equity ratio of 0.37, a current ratio of 3.37 and a quick ratio of 2.05.

IDEX (NYSE:IEX) last announced its earnings results on Tuesday, April 23rd. The industrial products company reported $1.88 earnings per share for the quarter, beating analysts’ consensus estimates of $1.76 by $0.12. IDEX had a net margin of 17.89% and a return on equity of 17.60%. The business had revenue of $801.00 million during the quarter, compared to the consensus estimate of $807.52 million. During the same quarter last year, the firm earned $2.09 earnings per share. The business’s revenue for the quarter was down 5.3% on a year-over-year basis. On average, sell-side analysts forecast that IDEX Co. will post 8.34 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $255.00 price target on shares of IDEX in a report on Thursday, March 21st. StockNews.com lowered shares of IDEX from a “buy” rating to a “hold” rating in a research report on Wednesday. Robert W. Baird cut their target price on shares of IDEX from $260.00 to $256.00 and set an “outperform” rating for the company in a research report on Thursday. Oppenheimer upped their target price on shares of IDEX from $245.00 to $252.00 and gave the stock an “outperform” rating in a research report on Thursday, April 18th. Finally, Stifel Nicolaus upgraded shares of IDEX from a “hold” rating to a “buy” rating and upped their target price for the stock from $215.00 to $265.00 in a research report on Thursday, February 8th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $241.67.

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.