Johnson Investment Counsel Inc. Has $53.34 Million Holdings in IDEX Co. (NYSE:IEX)

Johnson Investment Counsel Inc. increased its holdings in shares of IDEX Co. (NYSE:IEX) by 178.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 254,842 shares of the industrial products company’s stock after purchasing an additional 163,283 shares during the period. Johnson Investment Counsel Inc. owned approximately 0.34% of IDEX worth $53,336,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the stock. Assetmark Inc. bought a new position in IDEX during the 3rd quarter worth about $39,000. Brooklyn Investment Group acquired a new stake in IDEX in the 3rd quarter valued at approximately $86,000. Jones Financial Companies Lllp boosted its position in IDEX by 35.2% during the 4th quarter. Jones Financial Companies Lllp now owns 407 shares of the industrial products company’s stock worth $85,000 after acquiring an additional 106 shares during the last quarter. Fred Alger Management LLC acquired a new position in IDEX during the 3rd quarter worth approximately $89,000. Finally, Millburn Ridgefield Corp grew its stake in shares of IDEX by 475.0% during the 3rd quarter. Millburn Ridgefield Corp now owns 460 shares of the industrial products company’s stock worth $99,000 after acquiring an additional 380 shares in the last quarter. 97.96% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently commented on IEX. DA Davidson reduced their target price on shares of IDEX from $225.00 to $215.00 and set a “neutral” rating for the company in a report on Wednesday, February 19th. Stifel Nicolaus increased their price objective on shares of IDEX from $244.00 to $256.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Royal Bank of Canada lowered their target price on IDEX from $256.00 to $245.00 and set an “outperform” rating on the stock in a research report on Thursday, February 6th. Finally, Citigroup reduced their price target on IDEX from $269.00 to $267.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, IDEX presently has a consensus rating of “Moderate Buy” and an average target price of $241.71.

IDEX Stock Performance

IEX opened at $187.36 on Monday. The company has a quick ratio of 1.85, a current ratio of 2.53 and a debt-to-equity ratio of 0.49. IDEX Co. has a 12-month low of $183.24 and a 12-month high of $246.36. The business has a 50 day moving average of $205.18 and a 200-day moving average of $211.36. The stock has a market cap of $14.20 billion, a price-to-earnings ratio of 28.17, a PEG ratio of 1.98 and a beta of 0.99.

IDEX (NYSE:IEX) last announced its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $2.04 earnings per share (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%. On average, equities research analysts expect that IDEX Co. will post 8.26 earnings per share for the current year.

About IDEX

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.