Arizona State Retirement System Grows Stake in IDEX Co. (NYSE:IEX)

Arizona State Retirement System increased its position in IDEX Co. (NYSE:IEX) by 1.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 21,987 shares of the industrial products company’s stock after purchasing an additional 300 shares during the quarter. Arizona State Retirement System’s holdings in IDEX were worth $4,602,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Proficio Capital Partners LLC purchased a new position in shares of IDEX in the 4th quarter valued at approximately $10,212,000. M&T Bank Corp increased its position in IDEX by 7.9% during the 4th quarter. M&T Bank Corp now owns 22,594 shares of the industrial products company’s stock valued at $4,729,000 after buying an additional 1,660 shares in the last quarter. Assetmark Inc. increased its holdings in shares of IDEX by 129.1% in 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. Charles Schwab Investment Management Inc. increased its holdings in shares of IDEX by 1.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 640,183 shares of the industrial products company’s stock worth $133,984,000 after purchasing an additional 9,740 shares in the last quarter. Finally, Jones Financial Companies Lllp grew its holdings in shares of IDEX by 35.2% in the fourth 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 period. Hedge funds and other institutional investors own 97.96% of the company’s stock.

IDEX Trading Down 0.1 %

Shares of NYSE IEX opened at $187.36 on Friday. The stock has a market capitalization of $14.20 billion, a P/E ratio of 28.17, a PEG ratio of 1.98 and a beta of 0.99. The business’s 50 day moving average is $205.18 and its two-hundred day moving average is $211.29. IDEX Co. has a 1-year low of $183.24 and a 1-year high of $246.36. 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 released its earnings results on Tuesday, February 4th. The industrial products company reported $2.04 EPS for the quarter, beating analysts’ consensus estimates of $2.03 by $0.01. IDEX had a return on equity of 16.08% and a net margin of 15.45%. As a group, research analysts expect that IDEX Co. will post 8.26 EPS for the current year.

Analyst Ratings Changes

IEX has been the subject of several research analyst reports. Stifel Nicolaus lifted their price objective on IDEX from $244.00 to $256.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Royal Bank of Canada cut their price objective on IDEX from $256.00 to $245.00 and set an “outperform” rating for the company in a report on Thursday, February 6th. DA Davidson lowered their target price on IDEX from $225.00 to $215.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 19th. Finally, Citigroup lowered their target price on IDEX from $269.00 to $267.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, IDEX has a consensus rating of “Moderate Buy” and a consensus price target of $241.71.

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.