IDEX Co. (NYSE:IEX) Shares Acquired by Russell Investments Group Ltd.

Russell Investments Group Ltd. increased its stake in IDEX Co. (NYSE:IEX) by 25.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 57,005 shares of the industrial products company’s stock after acquiring an additional 11,442 shares during the period. Russell Investments Group Ltd. owned approximately 0.08% of IDEX worth $12,376,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of IEX. Commonwealth Equity Services LLC grew its position in shares of IDEX by 1.3% during the third 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. Xponance Inc. increased its position in shares of IDEX by 2.0% in the 3rd quarter. Xponance Inc. now owns 10,571 shares of the industrial products company’s stock valued at $2,199,000 after purchasing an additional 209 shares during the last quarter. Raymond James & Associates raised its holdings in shares of IDEX by 13.3% in the 3rd quarter. Raymond James & Associates now owns 68,781 shares of the industrial products company’s stock valued at $14,308,000 after purchasing an additional 8,083 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of IDEX by 13.0% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 124,299 shares of the industrial products company’s stock worth $25,857,000 after purchasing an additional 14,317 shares in the last quarter. Finally, BluePath Capital Management LLC purchased a new position in IDEX in the third quarter valued at $190,000. 97.96% of the stock is owned by institutional investors and hedge funds.

IDEX Stock Down 0.1 %

Shares of NYSE:IEX opened at $220.42 on Friday. IDEX Co. has a fifty-two week low of $183.76 and a fifty-two week high of $246.36. The company has a quick ratio of 2.45, a current ratio of 3.37 and a debt-to-equity ratio of 0.37. The firm’s 50-day simple moving average is $235.22 and its 200-day simple moving average is $217.25. The company has a market cap of $16.68 billion, a price-to-earnings ratio of 29.00, a PEG ratio of 2.21 and a beta of 0.99.

IDEX (NYSE:IEX) last released its earnings results on Tuesday, April 23rd. The industrial products company reported $1.88 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm’s quarterly revenue was down 5.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.09 EPS. As a group, equities research analysts predict that IDEX Co. will post 8.33 earnings per share for the current year.

Analyst Ratings Changes

Several research firms recently weighed in on IEX. Oppenheimer boosted their target price on IDEX from $245.00 to $252.00 and gave the stock an “outperform” rating in a research note on Thursday, April 18th. Royal Bank of Canada reissued an “outperform” rating and issued a $255.00 price target on shares of IDEX in a research report on Thursday, March 21st. Citigroup raised their price objective on IDEX from $254.00 to $277.00 and gave the stock a “buy” rating in a report on Monday, April 8th. StockNews.com downgraded IDEX from a “buy” rating to a “hold” rating in a report on Thursday. Finally, Stifel Nicolaus raised 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 six have assigned a buy rating to the company’s stock. According to data from MarketBeat, IDEX has a consensus rating of “Moderate Buy” and an average price target of $250.71.

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.