abrdn plc Acquires 15,180 Shares of IDEX Co. (NYSE:IEX)

abrdn plc grew its holdings in shares of IDEX Co. (NYSE:IEX) by 36.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 56,454 shares of the industrial products company’s stock after buying an additional 15,180 shares during the period. abrdn plc owned approximately 0.07% of IDEX worth $12,257,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Avior Wealth Management LLC boosted its holdings 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 buying an additional 49 shares in the last quarter. CWM LLC boosted 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 buying an additional 52 shares in the last quarter. Commonwealth Equity Services LLC boosted its holdings in shares of IDEX by 1.3% during the 3rd quarter. Commonwealth Equity Services LLC now owns 4,289 shares of the industrial products company’s stock worth $892,000 after buying an additional 53 shares in the last quarter. DB Fitzpatrick & Co Inc boosted its holdings in shares of IDEX by 2.1% during the 3rd quarter. DB Fitzpatrick & Co Inc now owns 2,766 shares of the industrial products company’s stock worth $575,000 after buying an additional 56 shares in the last quarter. Finally, Jacobson & Schmitt Advisors LLC boosted its holdings in shares of IDEX by 5.0% during the 3rd quarter. Jacobson & Schmitt Advisors LLC now owns 1,242 shares of the industrial products company’s stock worth $258,000 after buying an additional 59 shares in the last quarter. 97.96% of the stock is currently owned by institutional investors.

IDEX Trading Down 0.6 %

NYSE IEX opened at $223.29 on Friday. The firm has a market capitalization of $16.90 billion, a P/E ratio of 29.38, a PEG ratio of 2.24 and a beta of 0.97. The business has a fifty day simple moving average of $236.49 and a 200 day simple moving average of $216.60. IDEX Co. has a 12 month low of $183.76 and a 12 month high of $246.36. The company has a current ratio of 3.37, a quick ratio of 2.05 and a debt-to-equity ratio of 0.37.

IDEX (NYSE:IEX) last released its earnings results on Tuesday, April 23rd. The industrial products company reported $1.88 EPS for the quarter, topping analysts’ consensus estimates of $1.76 by $0.12. The company had revenue of $801.00 million for the quarter, compared to analysts’ expectations of $807.52 million. IDEX had a return on equity of 17.60% and a net margin of 17.89%. The business’s revenue for the quarter was down 5.3% compared to the same quarter last year. During the same period in the previous year, the business posted $2.09 EPS. On average, analysts predict that IDEX Co. will post 8.34 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Stifel Nicolaus raised IDEX from a “hold” rating to a “buy” rating and upped their target price for the stock from $215.00 to $265.00 in a research report on Thursday, February 8th. Citigroup upped their target price on IDEX from $254.00 to $277.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. StockNews.com lowered IDEX from a “buy” rating to a “hold” rating in a research report on Wednesday. Robert W. Baird lowered their target price on IDEX from $260.00 to $256.00 and set an “outperform” rating on the stock in a research report on Thursday. Finally, Oppenheimer upped their target price on IDEX from $245.00 to $252.00 and gave the stock an “outperform” rating in a research report on Thursday, April 18th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $241.67.

About IDEX

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.