Freestone Grove Partners LP Invests $27.54 Million in IDEX Co. (NYSE:IEX)

Freestone Grove Partners LP bought a new stake in shares of IDEX Co. (NYSE:IEX - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 131,577 shares of the industrial products company's stock, valued at approximately $27,538,000. Freestone Grove Partners LP owned 0.17% of IDEX as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the company. Quarry LP bought a new stake in IDEX in the 4th quarter valued at about $49,000. Jones Financial Companies Lllp increased its stake 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 purchasing an additional 106 shares in the last quarter. Assetmark Inc. raised its position in shares of IDEX by 129.1% in the fourth quarter. Assetmark Inc. now owns 417 shares of the industrial products company's stock valued at $87,000 after purchasing an additional 235 shares during the period. Canada Post Corp Registered Pension Plan purchased a new stake in shares of IDEX during the 4th quarter valued at approximately $105,000. Finally, BankPlus Trust Department bought a new position in IDEX in the 4th quarter worth approximately $123,000. 97.96% of the stock is currently owned by institutional investors.

IDEX Price Performance

IDEX stock traded down $2.12 during mid-day trading on Tuesday, hitting $179.62. 203,311 shares of the company traded hands, compared to its average volume of 638,498. The stock has a fifty day moving average price of $177.08 and a 200-day moving average price of $201.90. The stock has a market cap of $13.57 billion, a price-to-earnings ratio of 27.01, a price-to-earnings-growth ratio of 1.98 and a beta of 1.07. IDEX Co. has a one year low of $153.36 and a one year high of $238.22. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.85 and a current ratio of 2.53.

IDEX (NYSE:IEX - Get Free Report) last released its earnings results on Thursday, May 1st. The industrial products company reported $1.75 EPS for the quarter, beating analysts' consensus estimates of $1.64 by $0.11. IDEX had a return on equity of 16.08% and a net margin of 15.45%. The business had revenue of $814.30 million for the quarter, compared to analysts' expectations of $807.25 million. During the same quarter in the prior year, the firm earned $1.88 earnings per share. The firm's revenue was up 1.7% on a year-over-year basis. On average, equities analysts predict that IDEX Co. will post 8.26 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have issued reports on IEX. Robert W. Baird set a $215.00 target price on IDEX in a research report on Friday. Citigroup cut their target price on IDEX from $264.00 to $201.00 and set a "buy" rating for the company in a research note on Monday, April 14th. DA Davidson lowered their price target on shares of IDEX from $225.00 to $215.00 and set a "neutral" rating on the stock in a report on Wednesday, February 19th. Royal Bank of Canada boosted their price objective on shares of IDEX from $206.00 to $208.00 and gave the company an "outperform" rating in a research note on Friday. Finally, Stifel Nicolaus upped their target price on shares of IDEX from $192.00 to $208.00 and gave the stock a "buy" rating in a report on Friday. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, IDEX has an average rating of "Moderate Buy" and a consensus target price of $211.25.

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.