Massachusetts Financial Services Co. MA Grows Position in IDEX Co. (NYSE:IEX)

Massachusetts Financial Services Co. MA increased its position in IDEX Co. (NYSE:IEX) by 187.2% during the 4th quarter, Holdings Channel reports. The institutional investor owned 21,799 shares of the industrial products company’s stock after purchasing an additional 14,209 shares during the period. Massachusetts Financial Services Co. MA’s holdings in IDEX were worth $4,562,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in IEX. Vanguard Group Inc. increased its position in shares of IDEX by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 9,306,008 shares of the industrial products company’s stock valued at $1,947,654,000 after acquiring an additional 63,432 shares during the period. Wellington Management Group LLP increased its holdings in IDEX by 49.1% during the 4th quarter. Wellington Management Group LLP now owns 4,219,596 shares of the industrial products company’s stock valued at $883,119,000 after purchasing an additional 1,388,667 shares during the period. State Street Corp raised its position in IDEX by 0.5% during the 3rd quarter. State Street Corp now owns 3,017,976 shares of the industrial products company’s stock valued at $647,356,000 after purchasing an additional 15,077 shares during the last quarter. Geode Capital Management LLC lifted its holdings in IDEX by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 1,912,933 shares of the industrial products company’s stock worth $399,350,000 after buying an additional 21,758 shares during the period. Finally, Pictet Asset Management Holding SA grew its position in shares of IDEX by 6.3% in the 4th quarter. Pictet Asset Management Holding SA now owns 1,620,252 shares of the industrial products company’s stock worth $339,103,000 after buying an additional 95,840 shares during the last quarter. 97.96% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on IEX shares. Stifel Nicolaus upped their target price on IDEX from $244.00 to $256.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Citigroup decreased their price objective on shares of IDEX from $269.00 to $267.00 and set a “buy” rating for the company in a report on Monday, January 13th. DA Davidson cut their target price 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. Finally, Royal Bank of Canada decreased their price target on shares of IDEX from $256.00 to $245.00 and set an “outperform” rating for the company in a research note on Thursday, February 6th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, IDEX currently has a consensus rating of “Moderate Buy” and a consensus target price of $241.71.

IDEX Stock Up 0.3 %

NYSE:IEX opened at $162.93 on Tuesday. IDEX Co. has a 1-year low of $153.36 and a 1-year high of $241.97. The company has a market capitalization of $12.31 billion, a PE ratio of 24.50, a P/E/G ratio of 1.98 and a beta of 1.05. The firm’s 50-day moving average price is $191.56 and its 200-day moving average price is $208.20. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.53 and a quick ratio of 1.85.

IDEX (NYSE:IEX) last announced its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $2.04 earnings per share for the quarter, topping analysts’ consensus estimates of $2.03 by $0.01. IDEX had a net margin of 15.45% and a return on equity of 16.08%. On average, equities analysts predict that IDEX Co. will post 8.26 EPS 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.