Net Worth Advisory Group Increases Stock Position in IDEX Co. (NYSE:IEX)

Net Worth Advisory Group grew its holdings in IDEX Co. (NYSE:IEX) by 2.8% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 2,651 shares of the industrial products company’s stock after buying an additional 73 shares during the period. Net Worth Advisory Group’s holdings in IDEX were worth $555,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Johnson Investment Counsel Inc. raised its holdings in shares of IDEX by 178.3% in the fourth quarter. Johnson Investment Counsel Inc. now owns 254,842 shares of the industrial products company’s stock valued at $53,336,000 after buying an additional 163,283 shares during the last quarter. Daiwa Securities Group Inc. raised its holdings in shares of IDEX by 5.9% in the fourth quarter. Daiwa Securities Group Inc. now owns 12,106 shares of the industrial products company’s stock valued at $2,533,000 after buying an additional 674 shares during the last quarter. Essex Investment Management Co. LLC raised its holdings in shares of IDEX by 28,356.0% in the fourth quarter. Essex Investment Management Co. LLC now owns 23,903 shares of the industrial products company’s stock valued at $5,003,000 after buying an additional 23,819 shares during the last quarter. Larson Financial Group LLC raised its holdings in shares of IDEX by 11.3% in the fourth quarter. Larson Financial Group LLC now owns 896 shares of the industrial products company’s stock valued at $188,000 after buying an additional 91 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its holdings in shares of IDEX by 35.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 29,438 shares of the industrial products company’s stock valued at $6,161,000 after buying an additional 7,761 shares during the last quarter. 97.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

IEX has been the subject of a number of research reports. Stifel Nicolaus upped their target price on shares of IDEX from $244.00 to $256.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Royal Bank of Canada dropped their price target on shares of IDEX from $256.00 to $245.00 and set an “outperform” rating on the stock in a research note on Thursday, February 6th. Citigroup dropped their price target on shares of IDEX from $269.00 to $267.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Finally, DA Davidson dropped their price target on shares of IDEX from $225.00 to $215.00 and set a “neutral” rating on the stock in a research note 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. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $241.71.

IDEX Trading Down 0.7 %

Shares of IEX opened at $186.39 on Tuesday. 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 firm’s 50-day moving average is $204.73 and its two-hundred day moving average is $211.26. IDEX Co. has a twelve month low of $183.24 and a twelve month high of $246.36. The firm has a market capitalization of $14.13 billion, a P/E ratio of 28.03, a PEG ratio of 1.98 and a beta of 0.99.

IDEX (NYSE:IEX) last issued its earnings results on Tuesday, February 4th. The industrial products company reported $2.04 earnings per share for the quarter, topping the consensus estimate of $2.03 by $0.01. IDEX had a net margin of 15.45% and a return on equity of 16.08%. On average, research analysts predict that IDEX Co. will post 8.26 earnings per share for the current fiscal year.

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.