Cerity Partners LLC Acquires Shares of 1,710 IDEX Co. (NYSE:IEX)

Cerity Partners LLC acquired a new stake in IDEX Co. (NYSE:IEX) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 1,710 shares of the industrial products company’s stock, valued at approximately $372,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Planned Solutions Inc. acquired a new stake in IDEX in the fourth quarter worth $33,000. Compagnie Lombard Odier SCmA acquired a new stake in IDEX in the fourth quarter worth $54,000. Cary Street Partners Investment Advisory LLC raised its holdings in IDEX by 30.9% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 339 shares of the industrial products company’s stock worth $71,000 after purchasing an additional 80 shares during the period. Orion Capital Management LLC acquired a new stake in IDEX in the third quarter worth $86,000. Finally, Federated Hermes Inc. raised its holdings in IDEX by 49.0% in the third quarter. Federated Hermes Inc. now owns 447 shares of the industrial products company’s stock worth $93,000 after purchasing an additional 147 shares during the period. 97.96% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Oppenheimer increased their target price on shares of IDEX from $245.00 to $252.00 and gave the stock an “outperform” rating in a report on Thursday, April 18th. Citigroup lifted their price target on shares of IDEX from $254.00 to $277.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Stifel Nicolaus upgraded shares of IDEX from a “hold” rating to a “buy” rating and lifted their price target for the company from $215.00 to $265.00 in a research note on Thursday, February 8th. Robert W. Baird lowered their price target on shares of IDEX from $260.00 to $256.00 and set an “outperform” rating on the stock in a research note on Thursday. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $255.00 price target on shares of IDEX in a research note on Thursday, March 21st. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $241.67.

IDEX Stock Performance

Shares of IEX opened at $220.66 on Friday. The firm has a 50-day moving average of $236.36 and a 200-day moving average of $216.69. IDEX Co. has a one year low of $183.76 and a one year high of $246.36. The company has a market cap of $16.70 billion, a PE ratio of 29.03, a price-to-earnings-growth ratio of 2.24 and a beta of 0.97. The company has a debt-to-equity ratio of 0.37, a current ratio of 3.37 and a quick ratio of 2.05.

IDEX (NYSE:IEX) last announced its quarterly earnings data on Tuesday, April 23rd. The industrial products company reported $1.88 EPS for the quarter, beating analysts’ consensus estimates of $1.76 by $0.12. IDEX had a net margin of 17.89% and a return on equity of 17.60%. The company had revenue of $801.00 million during the quarter, compared to the consensus estimate of $807.52 million. During the same quarter last year, the firm posted $2.09 EPS. The company’s quarterly revenue was down 5.3% on a year-over-year basis. As a group, equities analysts forecast that IDEX Co. will post 8.34 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.