Janney Montgomery Scott LLC purchased a new position in shares of IDEX Co. (NYSE:IEX) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 2,860 shares of the industrial products company’s stock, valued at approximately $431,000.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. SRS Capital Advisors Inc. lifted its position in IDEX by 83.0% in the second quarter. SRS Capital Advisors Inc. now owns 745 shares of the industrial products company’s stock valued at $101,000 after purchasing an additional 338 shares during the period. Fort L.P. acquired a new stake in IDEX in the second quarter valued at about $118,000. First Hawaiian Bank acquired a new stake in IDEX in the third quarter valued at about $120,000. Point72 Hong Kong Ltd acquired a new stake in IDEX in the second quarter valued at about $153,000. Finally, Qube Research & Technologies Ltd acquired a new stake in IDEX in the second quarter valued at about $155,000. 94.99% of the stock is currently owned by hedge funds and other institutional investors.
IEX stock opened at $137.40 on Friday. IDEX Co. has a 12-month low of $123.47 and a 12-month high of $157.84. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.21 and a quick ratio of 2.41. The company has a market cap of $10.54 billion, a PE ratio of 26.32, a P/E/G ratio of 2.50 and a beta of 1.31.
A number of equities research analysts recently commented on the stock. Zacks Investment Research upgraded shares of IDEX from a “hold” rating to a “buy” rating and set a $170.00 price objective for the company in a research report on Monday, August 20th. Stifel Nicolaus raised their price objective on shares of IDEX from $149.00 to $150.00 and gave the company a “hold” rating in a research report on Monday, October 8th. Boenning Scattergood assumed coverage on shares of IDEX in a research report on Thursday, October 11th. They issued a “neutral” rating for the company. UBS Group set a $142.00 price objective on shares of IDEX and gave the company a “hold” rating in a research report on Friday, October 26th. Finally, Janney Montgomery Scott upgraded shares of IDEX from a “neutral” rating to a “buy” rating and set a $149.00 price objective for the company in a research report on Thursday, October 25th. Eight investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $146.00.
IDEX Company Profile
IDEX Corporation, through its subsidiaries, operates as an applied solutions company 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, flow meters, injectors, and other fluid-handling pump modules and systems, as well as offers flow monitoring and other services for the food, chemical, general industrial, water and wastewater, agricultural, and energy industries.
Further Reading: Outstanding Shares
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