Norges Bank Invests $217.66 Million in IDEX Co. (NYSE:IEX)

Norges Bank bought a new position in IDEX Co. (NYSE:IEX) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 1,039,983 shares of the industrial products company’s stock, valued at approximately $217,658,000. Norges Bank owned approximately 1.37% of IDEX at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in IDEX by 12.0% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 56,718 shares of the industrial products company’s stock worth $12,166,000 after acquiring an additional 6,096 shares during the last quarter. Public Sector Pension Investment Board lifted its position in shares of IDEX by 13.8% during the third quarter. Public Sector Pension Investment Board now owns 3,304 shares of the industrial products company’s stock worth $709,000 after purchasing an additional 400 shares in the last quarter. Verition Fund Management LLC grew its stake in shares of IDEX by 39.3% during the third quarter. Verition Fund Management LLC now owns 18,191 shares of the industrial products company’s stock valued at $3,902,000 after purchasing an additional 5,131 shares during the last quarter. Fred Alger Management LLC acquired a new stake in shares of IDEX in the third quarter valued at approximately $89,000. Finally, Paloma Partners Management Co bought a new position in IDEX in the 3rd quarter worth approximately $232,000. 97.96% of the stock is currently owned by institutional investors.

IDEX Stock Down 1.7 %

IDEX stock opened at $180.80 on Monday. The firm has a market capitalization of $13.66 billion, a price-to-earnings ratio of 27.19, a PEG ratio of 1.98 and a beta of 0.99. The company’s 50 day simple moving average is $197.16 and its 200 day simple moving average is $209.49. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.53 and a quick ratio of 1.85. IDEX Co. has a fifty-two week low of $177.71 and a fifty-two week high of $244.11.

IDEX (NYSE:IEX) last announced its quarterly 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 net margin of 15.45% and a return on equity of 16.08%. As a group, sell-side analysts anticipate that IDEX Co. will post 8.26 EPS for the current year.

Analyst Ratings Changes

IEX has been the subject of several research reports. Royal Bank of Canada lowered 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. Citigroup lowered their price objective 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 upped their target price on shares of IDEX from $244.00 to $256.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Finally, DA Davidson lowered their price target on shares of IDEX from $225.00 to $215.00 and set a “neutral” rating for the company in a research report on Wednesday, February 19th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $241.71.

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.