Stock Yards Bank & Trust Co. Purchases 1,987 Shares of IDEX Co. (NYSE:IEX)

Stock Yards Bank & Trust Co. lifted its stake in IDEX Co. (NYSE:IEX) by 121.7% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,620 shares of the industrial products company’s stock after purchasing an additional 1,987 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in IDEX were worth $786,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of IEX. CWM LLC boosted its holdings in shares of IDEX by 3.1% in the 3rd quarter. CWM LLC now owns 1,719 shares of the industrial products company’s stock worth $358,000 after purchasing an additional 52 shares during the period. Global Retirement Partners LLC boosted its holdings in shares of IDEX by 8.3% in the 3rd quarter. Global Retirement Partners LLC now owns 944 shares of the industrial products company’s stock worth $197,000 after purchasing an additional 72 shares during the period. HB Wealth Management LLC purchased a new position in shares of IDEX in the 3rd quarter worth approximately $253,000. Avior Wealth Management LLC boosted its holdings in shares of IDEX by 2.3% in the 3rd quarter. Avior Wealth Management LLC now owns 2,210 shares of the industrial products company’s stock worth $460,000 after purchasing an additional 49 shares during the period. Finally, CreativeOne Wealth LLC purchased a new position in IDEX during the 3rd quarter valued at $321,000. Hedge funds and other institutional investors own 97.96% of the company’s stock.

IDEX Price Performance

IEX opened at $232.37 on Wednesday. IDEX Co. has a 12-month low of $183.76 and a 12-month high of $246.36. The company has a current ratio of 2.89, a quick ratio of 2.05 and a debt-to-equity ratio of 0.37. The business’s fifty day simple moving average is $236.63 and its 200-day simple moving average is $216.50. The company has a market capitalization of $17.59 billion, a price-to-earnings ratio of 29.64, a PEG ratio of 2.30 and a beta of 0.97.

IDEX (NYSE:IEX) last posted its quarterly earnings results on Tuesday, April 23rd. The industrial products company reported $1.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.76 by $0.12. The business had revenue of $801.00 million for the quarter, compared to the consensus estimate of $807.52 million. IDEX had a return on equity of 18.56% and a net margin of 18.21%. The business’s revenue was down 5.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.09 EPS. On average, equities research analysts anticipate that IDEX Co. will post 8.34 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

IEX has been the subject of a number of recent analyst reports. Oppenheimer boosted their price objective on IDEX from $245.00 to $252.00 and gave the company an “outperform” rating in a report on Thursday, April 18th. Royal Bank of Canada restated an “outperform” rating and set a $255.00 price objective on shares of IDEX in a report on Thursday, March 21st. Citigroup boosted 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. Stifel Nicolaus upgraded IDEX from a “hold” rating to a “buy” rating and boosted their price objective for the company from $215.00 to $265.00 in a report on Thursday, February 8th. Finally, StockNews.com cut IDEX from a “buy” rating to a “hold” rating in a report on Wednesday. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, IDEX presently has a consensus rating of “Moderate Buy” and an average price target of $238.78.

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.