IDEX Co. (NYSE:IEX) Shares Bought by Wellington Management Group LLP

Wellington Management Group LLP grew its holdings in IDEX Co. (NYSE:IEX) by 49.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,219,596 shares of the industrial products company’s stock after purchasing an additional 1,388,667 shares during the quarter. Wellington Management Group LLP owned approximately 5.57% of IDEX worth $883,119,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of IEX. Norges Bank acquired a new stake in shares of IDEX during the fourth quarter worth $217,658,000. Allianz Asset Management GmbH increased its position in shares of IDEX by 133.2% in the fourth 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 raised its stake in shares of IDEX by 237.1% in the 4th quarter. Corient Private Wealth LLC now owns 256,769 shares of the industrial products company’s stock valued at $53,740,000 after acquiring an additional 180,601 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of IDEX during the 4th quarter valued at about $35,375,000. Finally, Johnson Investment Counsel Inc. grew its position in IDEX by 178.3% in the fourth quarter. Johnson Investment Counsel Inc. now owns 254,842 shares of the industrial products company’s stock valued at $53,336,000 after acquiring an additional 163,283 shares in the last quarter. 97.96% of the stock is currently owned by institutional investors and hedge funds.

IDEX Trading Up 0.1 %

NYSE IEX opened at $181.02 on Tuesday. 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 one year low of $176.39 and a one year high of $244.11. The company has a 50-day simple moving average of $196.47 and a 200-day simple moving average of $209.37. The firm has a market capitalization of $13.67 billion, a PE ratio of 27.22, a price-to-earnings-growth ratio of 1.98 and a beta of 0.99.

IDEX (NYSE:IEX) last issued its 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%. On average, equities analysts forecast that IDEX Co. will post 8.26 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have recently commented on IEX shares. DA Davidson reduced their target price 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. Royal Bank of Canada decreased their price objective 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. Stifel Nicolaus increased 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. Finally, Citigroup decreased their price objective on shares of IDEX from $269.00 to $267.00 and set a “buy” rating for the company in a report on Monday, January 13th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $241.71.

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.