NFJ Investment Group LLC Has $4.24 Million Position in IDEX Co. (NYSE:IEX)

NFJ Investment Group LLC increased its holdings in IDEX Co. (NYSE:IEX) by 69.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 20,246 shares of the industrial products company’s stock after purchasing an additional 8,307 shares during the period. NFJ Investment Group LLC’s holdings in IDEX were worth $4,237,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in IEX. Barclays PLC raised its holdings in shares of IDEX by 1.2% in the 3rd quarter. Barclays PLC now owns 1,177,645 shares of the industrial products company’s stock worth $252,603,000 after buying an additional 14,360 shares in the last quarter. Tidal Investments LLC raised its stake in IDEX by 9.3% during the third quarter. Tidal Investments LLC now owns 5,428 shares of the industrial products company’s stock worth $1,164,000 after acquiring an additional 460 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of IDEX by 1.0% during the third quarter. Franklin Resources Inc. now owns 203,412 shares of the industrial products company’s stock valued at $43,390,000 after acquiring an additional 1,930 shares during the period. Oddo BHF Asset Management Sas acquired a new stake in shares of IDEX in the 3rd quarter valued at $1,514,000. Finally, Principal Financial Group Inc. grew its holdings in shares of IDEX by 3.0% in the 3rd quarter. Principal Financial Group Inc. now owns 95,836 shares of the industrial products company’s stock worth $20,557,000 after purchasing an additional 2,820 shares during the last quarter. Institutional investors own 97.96% of the company’s stock.

IDEX Stock Performance

IDEX stock opened at $164.28 on Thursday. The company’s 50-day moving average is $183.35 and its two-hundred day moving average is $205.55. The company has a current ratio of 2.53, a quick ratio of 1.85 and a debt-to-equity ratio of 0.49. IDEX Co. has a 1 year low of $153.36 and a 1 year high of $238.22. The company has a market cap of $12.41 billion, a PE ratio of 24.70, a PEG ratio of 1.98 and a beta of 1.05.

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

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Stifel Nicolaus decreased their price objective on shares of IDEX from $256.00 to $192.00 and set a “buy” rating on the stock in a research note on Monday. Citigroup dropped their price target on IDEX from $264.00 to $201.00 and set a “buy” rating for the company in a report on Monday. Royal Bank of Canada reduced their price objective on IDEX from $256.00 to $245.00 and set an “outperform” rating on the stock in a research note on Thursday, February 6th. Finally, DA Davidson cut their price target on IDEX from $225.00 to $215.00 and set a “neutral” rating for the company in a report on Wednesday, February 19th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $223.14.

IDEX Company 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.