Massachusetts Financial Services Co. MA Acquires 14,209 Shares of IDEX Co. (NYSE:IEX)

Massachusetts Financial Services Co. MA raised its holdings in shares of IDEX Co. (NYSE:IEX) by 187.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,799 shares of the industrial products company’s stock after acquiring an additional 14,209 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in IDEX were worth $4,562,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Asset Management One Co. Ltd. grew its position in shares of IDEX by 4.2% in the fourth quarter. Asset Management One Co. Ltd. now owns 30,250 shares of the industrial products company’s stock valued at $6,386,000 after purchasing an additional 1,209 shares in the last quarter. Assetmark Inc. grew its holdings in IDEX by 129.1% during the 4th quarter. Assetmark Inc. now owns 417 shares of the industrial products company’s stock valued at $87,000 after buying an additional 235 shares in the last quarter. Covea Finance increased its position in shares of IDEX by 70.6% during the fourth quarter. Covea Finance now owns 14,500 shares of the industrial products company’s stock valued at $3,035,000 after buying an additional 6,000 shares during the period. Barclays PLC increased its position in shares of IDEX by 1.2% during the third quarter. Barclays PLC now owns 1,177,645 shares of the industrial products company’s stock valued at $252,603,000 after buying an additional 14,360 shares during the period. Finally, Park Avenue Securities LLC lifted its holdings in shares of IDEX by 27.0% in the fourth quarter. Park Avenue Securities LLC now owns 2,330 shares of the industrial products company’s stock worth $488,000 after buying an additional 495 shares in the last quarter. Institutional investors own 97.96% of the company’s stock.

Wall Street Analyst Weigh In

IEX has been the subject of several recent analyst reports. Stifel Nicolaus boosted their price objective on shares of IDEX from $244.00 to $256.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Royal Bank of Canada reduced their price target on shares of IDEX from $256.00 to $245.00 and set an “outperform” rating for the company in a research report on Thursday, February 6th. Citigroup lowered their price objective on IDEX from $269.00 to $267.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Finally, DA Davidson reduced 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 given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $241.71.

IDEX Stock Up 0.3 %

Shares of NYSE:IEX opened at $162.93 on Tuesday. The firm has a fifty day moving average of $191.56 and a 200 day moving average of $208.20. IDEX Co. has a 52-week low of $153.36 and a 52-week high of $241.97. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.85 and a current ratio of 2.53. The firm has a market capitalization of $12.31 billion, a PE ratio of 24.50, a price-to-earnings-growth ratio of 1.98 and a beta of 1.05.

IDEX (NYSE:IEX) last announced its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $2.04 EPS for the quarter, beating 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%. As a group, research analysts anticipate 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.