Spire Wealth Management Buys 7,739 Shares of IDEX Co. (NYSE:IEX)

Spire Wealth Management lifted its stake in IDEX Co. (NYSE:IEX) by 43.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 25,436 shares of the industrial products company’s stock after purchasing an additional 7,739 shares during the period. Spire Wealth Management’s holdings in IDEX were worth $5,266,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in IEX. Metis Global Partners LLC lifted its stake in IDEX by 3.0% in the fourth quarter. Metis Global Partners LLC now owns 6,166 shares of the industrial products company’s stock worth $1,339,000 after acquiring an additional 178 shares during the period. National Bank of Canada FI lifted its stake in IDEX by 7.3% in the fourth quarter. National Bank of Canada FI now owns 20,187 shares of the industrial products company’s stock worth $4,341,000 after acquiring an additional 1,382 shares during the period. Fisher Asset Management LLC lifted its stake in IDEX by 3.8% in the fourth quarter. Fisher Asset Management LLC now owns 429,047 shares of the industrial products company’s stock worth $93,150,000 after acquiring an additional 15,659 shares during the period. Duff & Phelps Investment Management Co. lifted its stake in IDEX by 6.1% in the fourth quarter. Duff & Phelps Investment Management Co. now owns 64,404 shares of the industrial products company’s stock worth $13,983,000 after acquiring an additional 3,704 shares during the period. Finally, Van ECK Associates Corp lifted its stake in IDEX by 6.4% in the fourth quarter. Van ECK Associates Corp now owns 10,457 shares of the industrial products company’s stock worth $2,270,000 after acquiring an additional 627 shares during the period. 97.96% of the stock is currently owned by institutional investors.

IDEX Stock Up 0.8 %

Shares of IEX traded up $1.73 during mid-day trading on Monday, hitting $222.15. 331,383 shares of the company traded hands, compared to its average volume of 380,399. IDEX Co. has a 1-year low of $183.76 and a 1-year high of $246.36. The company has a quick ratio of 2.45, a current ratio of 3.37 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $16.81 billion, a PE ratio of 29.37, a price-to-earnings-growth ratio of 2.21 and a beta of 0.99. The business has a 50 day moving average of $235.22 and a 200 day moving average of $217.49.

IDEX (NYSE:IEX) last posted its quarterly earnings data on Tuesday, April 23rd. The industrial products company reported $1.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.76 by $0.12. IDEX had a net margin of 17.89% and a return on equity of 17.60%. The firm had revenue of $801.00 million for the quarter, compared to the consensus estimate of $807.52 million. During the same quarter in the prior year, the company posted $2.09 earnings per share. The company’s revenue for the quarter was down 5.3% compared to the same quarter last year. Equities research analysts anticipate that IDEX Co. will post 8.33 EPS for the current year.

Wall Street Analysts Forecast Growth

IEX has been the subject of a number of research reports. Oppenheimer upped their price objective on shares of IDEX from $245.00 to $252.00 and gave the stock an “outperform” rating in a research note on Thursday, April 18th. Citigroup increased their price target on shares of IDEX from $254.00 to $277.00 and gave the company a “buy” rating in a research report on Monday, April 8th. Royal Bank of Canada reissued an “outperform” rating and set a $255.00 price target on shares of IDEX in a research report on Thursday, March 21st. Robert W. Baird decreased their price target on shares of IDEX from $260.00 to $256.00 and set an “outperform” rating for the company in a research report on Thursday, April 25th. Finally, StockNews.com lowered shares of IDEX from a “buy” rating to a “hold” rating in a research report on Thursday. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $250.71.

About IDEX

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.