Raymond James Financial Inc. Buys Shares of 169,025 IDEX Co. (NYSE:IEX)

Raymond James Financial Inc. acquired a new position in shares of IDEX Co. (NYSE:IEX) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 169,025 shares of the industrial products company’s stock, valued at approximately $35,375,000. Raymond James Financial Inc. owned approximately 0.22% of IDEX as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Assetmark Inc. acquired a new position in shares of IDEX during the third quarter worth about $39,000. Jones Financial Companies Lllp grew its position in shares of IDEX by 35.2% during the fourth quarter. Jones Financial Companies Lllp now owns 407 shares of the industrial products company’s stock worth $85,000 after buying an additional 106 shares in the last quarter. Brooklyn Investment Group acquired a new position in shares of IDEX during the third quarter worth about $86,000. Fred Alger Management LLC purchased a new stake in IDEX during the third quarter worth approximately $89,000. Finally, Millburn Ridgefield Corp lifted its stake in IDEX by 475.0% during the third quarter. Millburn Ridgefield Corp now owns 460 shares of the industrial products company’s stock worth $99,000 after purchasing an additional 380 shares during the last quarter. 97.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

IEX has been the subject of several recent analyst reports. Stifel Nicolaus boosted their target price on IDEX from $244.00 to $256.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. DA Davidson decreased their target price on IDEX from $225.00 to $215.00 and set a “neutral” rating for the company in a research note on Wednesday, February 19th. Citigroup decreased their target price on IDEX from $269.00 to $267.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Finally, Royal Bank of Canada decreased their target price on IDEX from $256.00 to $245.00 and set an “outperform” rating for the company in a research note on Thursday, February 6th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, IDEX presently has a consensus rating of “Moderate Buy” and an average target price of $241.71.

IDEX Price Performance

Shares of NYSE IEX opened at $178.18 on Friday. 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 twelve month low of $177.71 and a twelve month high of $246.36. The stock has a 50 day moving average of $203.70 and a two-hundred day moving average of $210.93. The stock has a market cap of $13.50 billion, a P/E ratio of 26.79, a P/E/G ratio of 1.98 and a beta of 0.99.

IDEX (NYSE:IEX) last issued its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $2.04 earnings per share 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%. On average, research analysts forecast 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.