Lake Street Advisors Group LLC Has $212,000 Stock Position in IDEX Co. (NYSE:IEX)

Lake Street Advisors Group LLC reduced its position in shares of IDEX Co. (NYSE:IEX) by 12.4% during the fourth quarter, Holdings Channel reports. The institutional investor owned 1,014 shares of the industrial products company’s stock after selling 143 shares during the period. Lake Street Advisors Group LLC’s holdings in IDEX were worth $212,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Illinois Municipal Retirement Fund raised its stake in IDEX by 57.1% during the 4th quarter. Illinois Municipal Retirement Fund now owns 8,015 shares of the industrial products company’s stock worth $1,677,000 after buying an additional 2,914 shares during the period. Bank of New York Mellon Corp raised its stake in IDEX by 8.2% during the 4th quarter. Bank of New York Mellon Corp now owns 643,190 shares of the industrial products company’s stock worth $134,613,000 after buying an additional 48,516 shares during the period. BankPlus Trust Department acquired a new position in IDEX during the 4th quarter worth approximately $123,000. Y Intercept Hong Kong Ltd acquired a new position in IDEX during the 4th quarter worth approximately $2,147,000. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund raised its stake in IDEX by 116.4% during the 4th quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 36,618 shares of the industrial products company’s stock worth $7,664,000 after buying an additional 19,700 shares during the period. 97.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on IEX. Stifel Nicolaus increased their price objective on IDEX from $244.00 to $256.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Royal Bank of Canada lowered their price objective on IDEX from $256.00 to $245.00 and set an “outperform” rating for the company in a research note on Thursday, February 6th. DA Davidson lowered their price objective on IDEX from $225.00 to $215.00 and set a “neutral” rating for the company in a research note on Wednesday, February 19th. Finally, Citigroup lowered their price objective on IDEX from $269.00 to $267.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $241.71.

IDEX Stock Performance

IEX stock opened at $194.31 on Friday. The firm has a market cap of $14.73 billion, a PE ratio of 29.22, a P/E/G ratio of 1.98 and a beta of 0.97. The company has a quick ratio of 1.85, a current ratio of 2.53 and a debt-to-equity ratio of 0.49. The business has a 50 day moving average of $207.62 and a 200-day moving average of $211.49. IDEX Co. has a 12-month low of $189.51 and a 12-month high of $246.36.

IDEX (NYSE:IEX) last released its earnings results on Tuesday, February 4th. The industrial products company reported $2.04 earnings per share (EPS) for the quarter, beating 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%. As a group, sell-side analysts expect that IDEX Co. will post 8.26 earnings per share for the current year.

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.