Arizona State Retirement System Purchases 300 Shares of IDEX Co. (NYSE:IEX)

Arizona State Retirement System increased its stake in shares of IDEX Co. (NYSE:IEX) by 1.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,987 shares of the industrial products company’s stock after buying an additional 300 shares during the quarter. Arizona State Retirement System’s holdings in IDEX were worth $4,602,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. State Street Corp grew its holdings in IDEX by 0.5% during the third quarter. State Street Corp now owns 3,017,976 shares of the industrial products company’s stock worth $647,356,000 after buying an additional 15,077 shares in the last quarter. Wellington Management Group LLP boosted its position in IDEX by 108.4% in the third quarter. Wellington Management Group LLP now owns 2,830,929 shares of the industrial products company’s stock worth $607,234,000 after purchasing an additional 1,472,456 shares during the last quarter. Geode Capital Management LLC boosted its position in IDEX by 1.3% in the third quarter. Geode Capital Management LLC now owns 1,891,175 shares of the industrial products company’s stock worth $404,339,000 after purchasing an additional 23,388 shares during the last quarter. Champlain Investment Partners LLC boosted its position in IDEX by 28.8% in the third quarter. Champlain Investment Partners LLC now owns 1,223,676 shares of the industrial products company’s stock worth $262,479,000 after purchasing an additional 273,460 shares during the last quarter. Finally, Barclays PLC boosted its position in IDEX by 1.2% in the third quarter. Barclays PLC now owns 1,177,645 shares of the industrial products company’s stock worth $252,603,000 after purchasing an additional 14,360 shares during the last quarter. Institutional investors own 97.96% of the company’s stock.

Analysts Set New Price Targets

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

IDEX Stock Performance

Shares of IEX opened at $187.36 on Friday. The stock’s 50-day simple moving average is $205.18 and its 200 day simple moving average is $211.29. The stock has a market capitalization of $14.20 billion, a price-to-earnings ratio of 28.17, 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 quick ratio of 1.85 and a current ratio of 2.53. IDEX Co. has a 52-week low of $183.24 and a 52-week high of $246.36.

IDEX (NYSE:IEX) last announced its earnings results on Tuesday, February 4th. The industrial products company reported $2.04 earnings per share for the quarter, topping 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%. Research analysts forecast that IDEX Co. will post 8.26 EPS for the current fiscal 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.