Geode Capital Management LLC Acquires 21,758 Shares of IDEX Co. (NYSE:IEX)

Geode Capital Management LLC lifted its holdings in shares of IDEX Co. (NYSE:IEX) by 1.2% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 1,912,933 shares of the industrial products company’s stock after purchasing an additional 21,758 shares during the period. Geode Capital Management LLC owned 2.53% of IDEX worth $399,350,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. Wellington Management Group LLP grew its holdings in IDEX by 108.4% during the 3rd quarter. Wellington Management Group LLP now owns 2,830,929 shares of the industrial products company’s stock worth $607,234,000 after acquiring an additional 1,472,456 shares during the last quarter. Norges Bank acquired a new position in shares of IDEX during the fourth quarter worth approximately $217,658,000. Allianz Asset Management GmbH grew its stake in shares of IDEX by 133.2% during the fourth quarter. Allianz Asset Management GmbH now owns 406,637 shares of the industrial products company’s stock valued at $85,105,000 after purchasing an additional 232,255 shares during the last quarter. Corient Private Wealth LLC raised its position 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 purchasing an additional 180,601 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in IDEX in the 4th quarter worth approximately $35,375,000. Institutional investors own 97.96% of the company’s stock.

IDEX Stock Performance

Shares of NYSE:IEX opened at $162.33 on Friday. The firm’s 50 day simple moving average is $192.73 and its 200 day simple moving average is $208.49. IDEX Co. has a fifty-two week low of $160.13 and a fifty-two week high of $241.97. The company has a market capitalization of $12.26 billion, a price-to-earnings ratio of 24.41, a P/E/G ratio of 1.98 and a beta of 1.05. 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 (NYSE:IEX) last announced its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $2.04 earnings per share for the quarter, topping analysts’ consensus estimates 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 forecast that IDEX Co. will post 8.26 earnings per share for the current year.

Analysts Set New Price Targets

IEX has been the subject of a number of recent research reports. Citigroup dropped their target price on IDEX from $269.00 to $267.00 and set a “buy” rating for the company in a research report on Monday, January 13th. 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 report on Thursday, February 6th. Stifel Nicolaus raised their target price 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, DA Davidson dropped their price target on shares of IDEX from $225.00 to $215.00 and set a “neutral” rating for the company in a research note on Wednesday, February 19th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, IDEX currently has an average rating of “Moderate Buy” and a consensus 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.