New York State Common Retirement Fund Sells 1,181 Shares of IDEX Co. (NYSE:IEX)

New York State Common Retirement Fund decreased its holdings in IDEX Co. (NYSE:IEX) by 1.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 102,374 shares of the industrial products company’s stock after selling 1,181 shares during the period. New York State Common Retirement Fund owned about 0.14% of IDEX worth $22,226,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Nordea Investment Management AB boosted its holdings in IDEX by 1,196.4% in the fourth quarter. Nordea Investment Management AB now owns 135,825 shares of the industrial products company’s stock worth $29,598,000 after purchasing an additional 125,348 shares during the last quarter. Impax Asset Management Group plc grew its holdings in shares of IDEX by 4.0% in the fourth quarter. Impax Asset Management Group plc now owns 2,190,741 shares of the industrial products company’s stock worth $475,632,000 after acquiring an additional 84,502 shares during the period. Lincoln National Corp increased its position in IDEX by 7.1% during the third quarter. Lincoln National Corp now owns 1,564 shares of the industrial products company’s stock valued at $325,000 after acquiring an additional 104 shares during the last quarter. Deutsche Bank AG lifted its holdings in IDEX by 13.3% in the third quarter. Deutsche Bank AG now owns 244,610 shares of the industrial products company’s stock valued at $50,884,000 after acquiring an additional 28,661 shares during the period. Finally, Raymond James & Associates boosted its position in IDEX by 11.2% in the fourth quarter. Raymond James & Associates now owns 76,465 shares of the industrial products company’s stock worth $16,601,000 after purchasing an additional 7,684 shares during the last quarter. Hedge funds and other institutional investors own 97.96% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on IEX shares. Oppenheimer increased their price objective on shares of IDEX from $245.00 to $252.00 and gave the stock an “outperform” rating in a research note on Thursday, April 18th. Stifel Nicolaus upgraded shares of IDEX from a “hold” rating to a “buy” rating and increased their price target for the stock from $215.00 to $265.00 in a research report on Thursday, February 8th. Royal Bank of Canada reissued an “outperform” rating and set a $255.00 price objective on shares of IDEX in a research report on Thursday, March 21st. Robert W. Baird decreased their target price on IDEX from $260.00 to $256.00 and set an “outperform” rating on the stock in a report on Thursday. Finally, Citigroup boosted their price target on IDEX from $254.00 to $277.00 and gave the company a “buy” rating in a report on Monday, April 8th. 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 data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $241.67.

IDEX Stock Performance

NYSE IEX opened at $220.66 on Friday. The business has a 50-day moving average price of $236.36 and a 200-day moving average price of $216.75. The firm has a market cap of $16.70 billion, a price-to-earnings ratio of 29.03, a price-to-earnings-growth ratio of 2.20 and a beta of 0.97. IDEX Co. has a twelve month low of $183.76 and a twelve month high of $246.36. The company has a quick ratio of 2.05, a current ratio of 3.37 and a debt-to-equity ratio of 0.37.

IDEX (NYSE:IEX) last announced its quarterly earnings data on Tuesday, April 23rd. The industrial products company reported $1.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.76 by $0.12. IDEX had a net margin of 17.89% and a return on equity of 17.60%. The business had revenue of $801.00 million during the quarter, compared to analyst estimates of $807.52 million. During the same period last year, the firm posted $2.09 EPS. The company’s revenue was down 5.3% on a year-over-year basis. As a group, equities research analysts predict that IDEX Co. will post 8.33 EPS for the current fiscal year.

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.