HighTower Advisors LLC Acquires 2,242 Shares of IDEX Co. (NYSE:IEX)

HighTower Advisors LLC raised its holdings in IDEX Co. (NYSE:IEX) by 21.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 12,546 shares of the industrial products company’s stock after purchasing an additional 2,242 shares during the quarter. HighTower Advisors LLC’s holdings in IDEX were worth $2,626,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of IEX. Jones Financial Companies Lllp raised its position in IDEX by 35.2% in the 4th quarter. Jones Financial Companies Lllp now owns 407 shares of the industrial products company’s stock valued at $85,000 after purchasing an additional 106 shares during the last quarter. Brooklyn Investment Group bought a new position in IDEX in the 3rd quarter valued at $86,000. Assetmark Inc. raised its position in IDEX by 129.1% in the 4th quarter. Assetmark Inc. now owns 417 shares of the industrial products company’s stock valued at $87,000 after purchasing an additional 235 shares during the last quarter. Fred Alger Management LLC bought a new stake in shares of IDEX during the third quarter worth $89,000. Finally, Millburn Ridgefield Corp raised its position in shares of 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 acquiring an additional 380 shares during the last quarter. Institutional investors own 97.96% of the company’s stock.

IDEX Stock Performance

Shares of IDEX stock opened at $182.02 on Friday. IDEX Co. has a one year low of $177.71 and a one year high of $246.36. The firm has a market cap of $13.79 billion, a price-to-earnings ratio of 27.37, a price-to-earnings-growth ratio of 1.98 and a beta of 0.99. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.53 and a quick ratio of 1.85. The stock’s 50-day moving average is $200.23 and its 200-day moving average is $209.82.

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, 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%. Equities analysts predict that IDEX Co. will post 8.26 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Royal Bank of Canada dropped their target price on IDEX from $256.00 to $245.00 and set an “outperform” rating for the company in a research report on Thursday, February 6th. Citigroup dropped their target price on IDEX from $269.00 to $267.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Stifel Nicolaus boosted their target price on IDEX from $244.00 to $256.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Finally, DA Davidson dropped their target price on IDEX from $225.00 to $215.00 and set a “neutral” rating for the company in a research report on Wednesday, February 19th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, IDEX presently has a consensus rating of “Moderate Buy” and a consensus target price of $241.71.

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.