Soros Fund Management LLC Takes $6.40 Million Position in IDEX Co. (NYSE:IEX)

Soros Fund Management LLC bought a new stake in IDEX Co. (NYSE:IEX - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm bought 30,558 shares of the industrial products company's stock, valued at approximately $6,395,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Wellington Management Group LLP grew its stake in shares of IDEX by 49.1% during the fourth quarter. Wellington Management Group LLP now owns 4,219,596 shares of the industrial products company's stock worth $883,119,000 after buying an additional 1,388,667 shares during the last quarter. Norges Bank bought a new stake in IDEX during the 4th quarter worth $217,658,000. Price T Rowe Associates Inc. MD increased its holdings in IDEX by 8.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,666,777 shares of the industrial products company's stock worth $767,421,000 after purchasing an additional 277,964 shares in the last quarter. Allianz Asset Management GmbH raised its position in IDEX by 133.2% in the fourth quarter. Allianz Asset Management GmbH now owns 406,637 shares of the industrial products company's stock valued at $85,105,000 after purchasing an additional 232,255 shares during the last quarter. Finally, Corient Private Wealth LLC boosted its stake in shares of IDEX by 237.1% during the fourth quarter. Corient Private Wealth LLC now owns 256,769 shares of the industrial products company's stock valued at $53,740,000 after purchasing an additional 180,601 shares in the last quarter. Institutional investors own 97.96% of the company's stock.

IDEX Stock Up 0.7 %

NYSE IEX traded up $1.30 on Thursday, hitting $175.27. 914,967 shares of the company were exchanged, compared to its average volume of 572,723. IDEX Co. has a 12 month low of $153.36 and a 12 month high of $238.22. The company has a current ratio of 2.53, a quick ratio of 1.85 and a debt-to-equity ratio of 0.49. The company has a market cap of $13.24 billion, a PE ratio of 26.36, a PEG ratio of 1.98 and a beta of 1.05. The stock has a fifty day moving average of $177.65 and a 200-day moving average of $202.42.

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

Analysts Set New Price Targets

A number of brokerages recently issued reports on IEX. Mizuho set a $175.00 price objective on shares of IDEX in a report on Tuesday, April 22nd. Stifel Nicolaus cut their price target on shares of IDEX from $256.00 to $192.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Royal Bank of Canada decreased 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. Citigroup cut their target price on IDEX from $264.00 to $201.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Finally, DA Davidson lowered their price objective on IDEX from $225.00 to $215.00 and set a "neutral" rating for the company in a research report on Wednesday, February 19th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $217.13.

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.