Fjarde AP Fonden Fourth Swedish National Pension Fund Buys 19,700 Shares of IDEX Co. (NYSE:IEX)

Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its position in shares of IDEX Co. (NYSE:IEX) by 116.4% in the fourth quarter, Holdings Channel.com reports. The firm owned 36,618 shares of the industrial products company’s stock after acquiring an additional 19,700 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in IDEX were worth $7,664,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Studio Investment Management LLC boosted its position in shares of IDEX by 4.9% during the third quarter. Studio Investment Management LLC now owns 955 shares of the industrial products company’s stock worth $205,000 after buying an additional 45 shares during the period. Bleakley Financial Group LLC boosted its position in IDEX by 4.1% during the 4th quarter. Bleakley Financial Group LLC now owns 1,214 shares of the industrial products company’s stock worth $254,000 after acquiring an additional 48 shares during the last quarter. Albert D Mason Inc. grew its stake in shares of IDEX by 1.3% during the 4th quarter. Albert D Mason Inc. now owns 4,532 shares of the industrial products company’s stock worth $948,000 after acquiring an additional 56 shares in the last quarter. Catalyst Capital Advisors LLC raised its holdings in shares of IDEX by 73.8% in the third quarter. Catalyst Capital Advisors LLC now owns 139 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 59 shares during the last quarter. Finally, Diversified Trust Co lifted its position in shares of IDEX by 1.0% in the fourth quarter. Diversified Trust Co now owns 6,210 shares of the industrial products company’s stock worth $1,300,000 after purchasing an additional 59 shares in the last quarter. Institutional investors and hedge funds own 97.96% of the company’s stock.

Wall Street Analyst Weigh In

IEX has been the subject of a number of analyst reports. Stifel Nicolaus raised their target price on shares of IDEX from $244.00 to $256.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Royal Bank of Canada decreased their price objective on IDEX from $256.00 to $245.00 and set an “outperform” rating for the company in a report on Thursday, February 6th. DA Davidson dropped their target price on IDEX from $225.00 to $215.00 and set a “neutral” rating on the stock in a report on Wednesday, February 19th. Citigroup reduced their price target on IDEX from $269.00 to $267.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Finally, Robert W. Baird lowered their price target on IDEX from $245.00 to $241.00 and set an “outperform” rating on the stock in a research report on Thursday, October 31st. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $241.71.

IDEX Trading Up 1.9 %

IDEX stock opened at $196.61 on Tuesday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.85 and a current ratio of 2.53. The stock has a 50-day simple moving average of $209.15 and a 200 day simple moving average of $211.69. The stock has a market capitalization of $14.90 billion, a P/E ratio of 29.57, a PEG ratio of 1.98 and a beta of 0.97. IDEX Co. has a 52 week low of $189.51 and a 52 week high of $246.36.

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

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.