Blueshift Asset Management LLC Makes New $298,000 Investment in IDEX Co. (NYSE:IEX)

Blueshift Asset Management LLC acquired a new stake in shares of IDEX Co. (NYSE:IEX) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 1,424 shares of the industrial products company’s stock, valued at approximately $298,000.

A number of other hedge funds have also recently modified their holdings of IEX. Wellington Management Group LLP grew its holdings in IDEX by 108.4% during the third quarter. Wellington Management Group LLP now owns 2,830,929 shares of the industrial products company’s stock valued at $607,234,000 after purchasing an additional 1,472,456 shares during the period. Champlain Investment Partners LLC grew its stake in shares of IDEX by 28.8% during the 3rd quarter. Champlain Investment Partners LLC now owns 1,223,676 shares of the industrial products company’s stock valued at $262,479,000 after acquiring an additional 273,460 shares during the period. Allianz Asset Management GmbH increased its holdings in IDEX by 133.2% in the 4th quarter. Allianz Asset Management GmbH now owns 406,637 shares of the industrial products company’s stock worth $85,105,000 after acquiring an additional 232,255 shares in the last quarter. Corient Private Wealth LLC increased its holdings in IDEX by 237.1% in the 4th quarter. Corient Private Wealth LLC now owns 256,769 shares of the industrial products company’s stock worth $53,740,000 after acquiring an additional 180,601 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in IDEX during the 4th quarter worth approximately $35,375,000. Institutional investors own 97.96% of the company’s stock.

Wall Street Analysts Forecast Growth

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

IDEX Stock Down 0.9 %

IEX opened at $182.02 on Friday. IDEX Co. has a 52 week low of $177.71 and a 52 week high of $246.36. 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 firm has a 50-day simple moving average of $200.23 and a two-hundred day simple moving average of $209.82. The company has a market capitalization of $13.79 billion, a PE ratio of 27.37, a price-to-earnings-growth ratio of 1.98 and a beta of 0.99.

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

About IDEX

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.