New York Life Investment Management LLC Acquires 76 Shares of IDEX Co. (NYSE:IEX)

New York Life Investment Management LLC raised its holdings in IDEX Co. (NYSE:IEX) by 0.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,234 shares of the industrial products company’s stock after acquiring an additional 76 shares during the quarter. New York Life Investment Management LLC’s holdings in IDEX were worth $2,142,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of IEX. Wellington Management Group LLP boosted its holdings in IDEX by 108.4% in the third quarter. Wellington Management Group LLP now owns 2,830,929 shares of the industrial products company’s stock worth $607,234,000 after purchasing an additional 1,472,456 shares in the last quarter. Van ECK Associates Corp boosted its stake in shares of IDEX by 9,424.6% during the 3rd quarter. Van ECK Associates Corp now owns 1,032,277 shares of the industrial products company’s stock worth $211,473,000 after acquiring an additional 1,021,439 shares in the last quarter. Champlain Investment Partners LLC increased its holdings in shares of IDEX by 28.8% during the 3rd quarter. Champlain Investment Partners LLC now owns 1,223,676 shares of the industrial products company’s stock valued at $262,479,000 after acquiring an additional 273,460 shares during the last quarter. Allianz Asset Management GmbH raised its stake in shares of IDEX by 133.2% in the 4th quarter. Allianz Asset Management GmbH now owns 406,637 shares of the industrial products company’s stock valued at $85,105,000 after acquiring an additional 232,255 shares in the last quarter. Finally, DF Dent & Co. Inc. acquired a new stake in IDEX in the 3rd quarter worth approximately $31,747,000. Institutional investors and hedge funds own 97.96% of the company’s stock.

Wall Street Analyst Weigh In

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

IDEX Stock Performance

NYSE:IEX opened at $194.31 on Monday. 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 firm’s 50-day moving average is $207.62 and its 200-day moving average is $211.74. IDEX Co. has a 52-week low of $189.51 and a 52-week high of $246.36. The company has a market cap of $14.73 billion, a price-to-earnings ratio of 29.22, a PEG ratio of 1.98 and a beta of 0.97.

IDEX (NYSE:IEX) last posted 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 return on equity of 16.08% and a net margin of 15.45%. Equities research analysts anticipate that IDEX Co. will post 8.26 earnings per share for the current year.

IDEX Company 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.