Raymond James Financial Inc. Invests $35.38 Million in IDEX Co. (NYSE:IEX)

Raymond James Financial Inc. bought a new stake in IDEX Co. (NYSE:IEX - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 169,025 shares of the industrial products company's stock, valued at approximately $35,375,000. Raymond James Financial Inc. owned 0.22% of IDEX at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Bleakley Financial Group LLC increased its stake in IDEX by 4.1% in the fourth quarter. Bleakley Financial Group LLC now owns 1,214 shares of the industrial products company's stock valued at $254,000 after purchasing an additional 48 shares during the period. Albert D Mason Inc. increased its position in IDEX by 1.3% in the 4th quarter. Albert D Mason Inc. now owns 4,532 shares of the industrial products company's stock valued at $948,000 after acquiring an additional 56 shares during the period. Diversified Trust Co raised its stake in IDEX by 1.0% during the 4th quarter. Diversified Trust Co now owns 6,210 shares of the industrial products company's stock valued at $1,300,000 after acquiring an additional 59 shares during the last quarter. Blackston Financial Advisory Group LLC lifted its position in IDEX by 2.7% during the 4th quarter. Blackston Financial Advisory Group LLC now owns 2,299 shares of the industrial products company's stock worth $481,000 after acquiring an additional 60 shares during the period. Finally, Signal Advisors Wealth LLC grew its stake in shares of IDEX by 3.6% in the 4th quarter. Signal Advisors Wealth LLC now owns 1,822 shares of the industrial products company's stock valued at $381,000 after purchasing an additional 63 shares during the last quarter. Hedge funds and other institutional investors own 97.96% of the company's stock.

IDEX Price Performance

IEX traded up $6.00 on Tuesday, hitting $166.66. 631,241 shares of the company were exchanged, compared to its average volume of 560,277. IDEX Co. has a fifty-two week low of $153.36 and a fifty-two week 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. The firm has a market capitalization of $12.59 billion, a P/E ratio of 25.06, a price-to-earnings-growth ratio of 1.98 and a beta of 1.05. The business's fifty day moving average is $180.89 and its 200 day moving average is $204.16.

IDEX (NYSE:IEX - Get Free Report) last released its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $2.04 earnings per share for the quarter, topping 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, sell-side analysts anticipate that IDEX Co. will post 8.26 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on IEX shares. DA Davidson cut their price target on IDEX from $225.00 to $215.00 and set a "neutral" rating for the company in a research note on Wednesday, February 19th. Royal Bank of Canada cut their price objective on shares of IDEX from $256.00 to $245.00 and set an "outperform" rating for the company in a research report on Thursday, February 6th. Stifel Nicolaus dropped their price target on shares of IDEX from $256.00 to $192.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Finally, Citigroup cut their price target on shares of IDEX from $264.00 to $201.00 and set a "buy" rating for the company in a report on Monday, April 14th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $223.14.

IDEX Company 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.