Duff & Phelps Investment Management Co. Boosts Stock Position in IDEX Co. (NYSE:IEX)

Duff & Phelps Investment Management Co. raised its position in shares of IDEX Co. (NYSE:IEX) by 6.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 64,404 shares of the industrial products company’s stock after purchasing an additional 3,704 shares during the quarter. Duff & Phelps Investment Management Co. owned 0.09% of IDEX worth $13,983,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Impax Asset Management Group plc grew its holdings in IDEX by 4.0% during the fourth quarter. Impax Asset Management Group plc now owns 2,190,741 shares of the industrial products company’s stock worth $475,632,000 after acquiring an additional 84,502 shares during the period. Barclays PLC grew its holdings in IDEX by 3.3% in the third quarter. Barclays PLC now owns 1,143,583 shares of the industrial products company’s stock valued at $237,890,000 after purchasing an additional 36,928 shares during the period. Northern Trust Corp grew its holdings in IDEX by 6.1% in the third quarter. Northern Trust Corp now owns 785,716 shares of the industrial products company’s stock valued at $163,445,000 after purchasing an additional 45,120 shares during the period. Alecta Tjanstepension Omsesidigt grew its holdings in IDEX by 420.8% in the fourth quarter. Alecta Tjanstepension Omsesidigt now owns 781,172 shares of the industrial products company’s stock valued at $169,600,000 after purchasing an additional 631,172 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in IDEX by 1.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 593,542 shares of the industrial products company’s stock valued at $123,469,000 after purchasing an additional 7,559 shares during the period. Hedge funds and other institutional investors own 97.96% of the company’s stock.

Wall Street Analysts Forecast Growth

IEX has been the topic of several research analyst reports. Citigroup raised their price objective on IDEX from $254.00 to $277.00 and gave the company a “buy” rating in a report on Monday, April 8th. StockNews.com downgraded IDEX from a “buy” rating to a “hold” rating in a research report on Wednesday, April 24th. Robert W. Baird decreased their target price on IDEX from $260.00 to $256.00 and set an “outperform” rating on the stock in a research report on Thursday, April 25th. Stifel Nicolaus upgraded IDEX from a “hold” rating to a “buy” rating and raised their target price for the company from $215.00 to $265.00 in a research report on Thursday, February 8th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $255.00 target price on shares of IDEX in a research report on Thursday, March 21st. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, IDEX currently has a consensus rating of “Moderate Buy” and an average target price of $250.71.

IDEX Trading Down 1.5 %

Shares of NYSE IEX opened at $220.46 on Wednesday. IDEX Co. has a twelve month low of $183.76 and a twelve month high of $246.36. The company has a current ratio of 3.37, a quick ratio of 2.45 and a debt-to-equity ratio of 0.37. The stock has a fifty day simple moving average of $236.29 and a 200-day simple moving average of $216.93. The stock has a market capitalization of $16.69 billion, a PE ratio of 29.01, a PEG ratio of 2.24 and a beta of 0.97.

IDEX (NYSE:IEX) last released its earnings results on Tuesday, April 23rd. The industrial products company reported $1.88 EPS for the quarter, topping the consensus estimate of $1.76 by $0.12. IDEX had a return on equity of 17.60% and a net margin of 17.89%. The firm had revenue of $801.00 million during the quarter, compared to analysts’ expectations of $807.52 million. During the same period in the previous year, the firm posted $2.09 EPS. IDEX’s revenue for the quarter was down 5.3% on a year-over-year basis. On average, equities analysts forecast that IDEX Co. will post 8.33 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.