Pinebridge Investments L.P. Makes New $231,000 Investment in IDEX Co. (NYSE:IEX)

Pinebridge Investments L.P. acquired a new position in shares of IDEX Co. (NYSE:IEX) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 1,103 shares of the industrial products company’s stock, valued at approximately $231,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Bleakley Financial Group LLC increased its holdings in IDEX by 4.1% during the 4th quarter. Bleakley Financial Group LLC now owns 1,214 shares of the industrial products company’s stock worth $254,000 after purchasing an additional 48 shares during the last quarter. Albert D Mason Inc. raised its position in shares of IDEX by 1.3% during the 4th quarter. Albert D Mason Inc. now owns 4,532 shares of the industrial products company’s stock valued at $948,000 after acquiring an additional 56 shares in the last quarter. Diversified Trust Co lifted its stake in IDEX by 1.0% during the fourth quarter. Diversified Trust Co now owns 6,210 shares of the industrial products company’s stock worth $1,300,000 after purchasing an additional 59 shares during the last quarter. Blackston Financial Advisory Group LLC boosted its holdings in IDEX by 2.7% in the fourth quarter. Blackston Financial Advisory Group LLC now owns 2,299 shares of the industrial products company’s stock worth $481,000 after purchasing an additional 60 shares during the period. Finally, Signal Advisors Wealth LLC raised its holdings in shares of IDEX by 3.6% during the fourth quarter. Signal Advisors Wealth LLC now owns 1,822 shares of the industrial products company’s stock worth $381,000 after purchasing an additional 63 shares during the period. 97.96% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

IEX has been the topic of a number of recent research reports. Citigroup reduced their price target on shares of IDEX from $264.00 to $201.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Mizuho set a $175.00 price objective on shares of IDEX in a research report on Tuesday, April 22nd. Royal Bank of Canada cut their price objective on shares of IDEX from $256.00 to $245.00 and set an “outperform” rating on the stock in a research report on Thursday, February 6th. Stifel Nicolaus cut their price objective on shares of IDEX from $256.00 to $192.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Finally, DA Davidson cut their price objective on shares of IDEX from $225.00 to $215.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 19th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $217.13.

IDEX Stock Up 0.6 %

IDEX stock opened at $174.03 on Tuesday. The stock has a market cap of $13.15 billion, a price-to-earnings ratio of 26.17, a PEG ratio of 1.98 and a beta of 1.05. The company has a current ratio of 2.53, a quick ratio of 1.85 and a debt-to-equity ratio of 0.49. The company’s 50-day moving average price is $178.94 and its two-hundred day moving average price is $203.10. IDEX Co. has a 52 week low of $153.36 and a 52 week high of $238.22.

IDEX (NYSE:IEX) last released its earnings results 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 net margin of 15.45% and a return on equity of 16.08%. On average, analysts expect 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.