Louisiana State Employees Retirement System Purchases Shares of 4,600 IDEX Co. (NYSE:IEX)

Louisiana State Employees Retirement System purchased a new stake in IDEX Co. (NYSE:IEX) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 4,600 shares of the industrial products company’s stock, valued at approximately $999,000.

A number of other hedge funds have also recently bought and sold shares of the stock. CWM LLC lifted its holdings in shares of IDEX by 3.1% during the 3rd quarter. CWM LLC now owns 1,719 shares of the industrial products company’s stock worth $358,000 after acquiring an additional 52 shares during the period. Global Retirement Partners LLC lifted its holdings in shares of IDEX by 8.3% during the 3rd quarter. Global Retirement Partners LLC now owns 944 shares of the industrial products company’s stock worth $197,000 after acquiring an additional 72 shares during the period. HB Wealth Management LLC bought a new position in shares of IDEX during the 3rd quarter worth about $253,000. Avior Wealth Management LLC increased its position in shares of IDEX by 2.3% during the 3rd quarter. Avior Wealth Management LLC now owns 2,210 shares of the industrial products company’s stock worth $460,000 after purchasing an additional 49 shares in the last quarter. Finally, CreativeOne Wealth LLC acquired a new stake in IDEX in the 3rd quarter valued at about $321,000. 97.96% of the stock is owned by institutional investors.

IDEX Stock Performance

Shares of IEX opened at $224.64 on Thursday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.05 and a current ratio of 2.89. IDEX Co. has a twelve month low of $183.76 and a twelve month high of $246.36. The firm’s 50 day moving average price is $236.58 and its two-hundred day moving average price is $216.55. The firm has a market cap of $17.00 billion, a P/E ratio of 28.65, a PEG ratio of 2.30 and a beta of 0.97.

IDEX (NYSE:IEX) last announced its quarterly earnings results on Tuesday, April 23rd. The industrial products company reported $1.88 earnings per share for the quarter, beating analysts’ consensus estimates of $1.76 by $0.12. IDEX had a net margin of 18.21% and a return on equity of 18.56%. The firm had revenue of $801.00 million for the quarter, compared to analyst estimates of $807.52 million. During the same quarter in the previous year, the firm posted $2.09 earnings per share. The business’s revenue was down 5.3% on a year-over-year basis. On average, analysts forecast that IDEX Co. will post 8.34 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

IEX has been the subject of several research reports. StockNews.com cut shares of IDEX from a “buy” rating to a “hold” rating in a research report on Wednesday. Royal Bank of Canada restated an “outperform” rating and issued a $255.00 price objective on shares of IDEX in a research report on Thursday, March 21st. Oppenheimer raised their price objective on shares of IDEX from $245.00 to $252.00 and gave the company an “outperform” rating in a research report on Thursday, April 18th. Citigroup lifted their price target on shares of IDEX from $254.00 to $277.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. Finally, Stifel Nicolaus upgraded shares of IDEX from a “hold” rating to a “buy” rating and lifted their price target for the stock from $215.00 to $265.00 in a research report on Thursday, February 8th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $238.78.

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.