Raymond James & Associates Purchases 7,684 Shares of IDEX Co. (NYSE:IEX)

Raymond James & Associates increased its holdings in shares of IDEX Co. (NYSE:IEX - Free Report) by 11.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 76,465 shares of the industrial products company's stock after acquiring an additional 7,684 shares during the period. Raymond James & Associates owned approximately 0.10% of IDEX worth $16,601,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Vanguard Group Inc. lifted its stake in shares of IDEX by 0.6% in the first quarter. Vanguard Group Inc. now owns 8,802,857 shares of the industrial products company's stock worth $1,687,772,000 after buying an additional 53,138 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of IDEX by 10.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,269,952 shares of the industrial products company's stock worth $746,628,000 after purchasing an additional 306,008 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of IDEX by 3.9% in the first quarter. Wellington Management Group LLP now owns 3,106,765 shares of the industrial products company's stock worth $595,660,000 after purchasing an additional 117,605 shares in the last quarter. State Street Corp boosted its position in shares of IDEX by 2.2% during the second quarter. State Street Corp now owns 2,993,760 shares of the industrial products company's stock worth $644,437,000 after acquiring an additional 64,316 shares during the last quarter. Finally, Morgan Stanley boosted its position in shares of IDEX by 274.1% during the fourth quarter. Morgan Stanley now owns 2,151,334 shares of the industrial products company's stock worth $491,214,000 after acquiring an additional 1,576,263 shares during the last quarter. Institutional investors own 97.96% of the company's stock.

IDEX Stock Performance

NYSE IEX traded down $1.29 on Tuesday, hitting $239.58. 281,483 shares of the company's stock traded hands, compared to its average volume of 391,372. The company has a current ratio of 2.89, a quick ratio of 2.05 and a debt-to-equity ratio of 0.37. IDEX Co. has a 1-year low of $183.76 and a 1-year high of $246.36. The firm's 50-day moving average price is $231.27 and its two-hundred day moving average price is $213.60. The firm has a market capitalization of $18.13 billion, a PE ratio of 30.74, a P/E/G ratio of 2.44 and a beta of 0.97.

IDEX (NYSE:IEX - Get Free Report) last announced its quarterly earnings data on Tuesday, February 6th. The industrial products company reported $1.83 EPS for the quarter, beating the consensus estimate of $1.78 by $0.05. The business had revenue of $788.90 million during the quarter, compared to analysts' expectations of $767.96 million. IDEX had a net margin of 18.21% and a return on equity of 18.56%. The business's quarterly revenue was down 2.7% compared to the same quarter last year. During the same period in the previous year, the business posted $2.01 EPS. As a group, analysts expect that IDEX Co. will post 8.35 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on IEX shares. Stifel Nicolaus upgraded shares of IDEX from a "hold" rating to a "buy" rating and raised their target price for the stock from $215.00 to $265.00 in a report on Thursday, February 8th. Royal Bank of Canada restated an "outperform" rating and issued a $255.00 price target on shares of IDEX in a report on Thursday, March 21st. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $235.56.

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.