Tower Research Capital LLC TRC Acquires 2,111 Shares of IDEX Co. (NYSE:IEX)

Tower Research Capital LLC TRC grew its holdings in shares of IDEX Co. (NYSE:IEX) by 33.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,490 shares of the industrial products company’s stock after acquiring an additional 2,111 shares during the period. Tower Research Capital LLC TRC’s holdings in IDEX were worth $1,777,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on IEX. Stifel Nicolaus dropped their price objective on IDEX from $256.00 to $192.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Royal Bank of Canada reduced 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. DA Davidson cut their target price 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. Finally, Citigroup dropped their price objective on shares of IDEX from $264.00 to $201.00 and set a “buy” rating for the company in a report on Monday, April 14th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, IDEX currently has an average rating of “Moderate Buy” and a consensus price target of $223.14.

IDEX Stock Performance

NYSE:IEX opened at $166.66 on Wednesday. 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 stock’s fifty day moving average is $180.89 and its 200 day moving average is $204.16. The firm has a market capitalization of $12.59 billion, a PE ratio of 25.06, a PEG ratio of 1.98 and a beta of 1.05. IDEX Co. has a fifty-two week low of $153.36 and a fifty-two week high of $238.22.

IDEX (NYSE:IEX) last issued its quarterly 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, sell-side analysts anticipate that IDEX Co. will post 8.26 earnings per share for the current 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.