Machina Capital S.A.S. Increases Stake in IDEX Co. (NYSE:IEX)

Machina Capital S.A.S. boosted its holdings in IDEX Co. (NYSE:IEX) by 24.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,309 shares of the industrial products company’s stock after purchasing an additional 448 shares during the period. Machina Capital S.A.S.’s holdings in IDEX were worth $501,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Private Advisor Group LLC increased its stake in shares of IDEX by 6.4% in the fourth quarter. Private Advisor Group LLC now owns 2,418 shares of the industrial products company’s stock worth $525,000 after buying an additional 146 shares during the period. MeadowBrook Investment Advisors LLC bought a new position in shares of IDEX during the fourth quarter valued at about $208,000. Spire Wealth Management grew its stake in shares of IDEX by 43.7% in the fourth quarter. Spire Wealth Management now owns 25,436 shares of the industrial products company’s stock worth $5,266,000 after purchasing an additional 7,739 shares during the last quarter. Metis Global Partners LLC grew its position in shares of IDEX by 3.0% in the 4th quarter. Metis Global Partners LLC now owns 6,166 shares of the industrial products company’s stock worth $1,339,000 after buying an additional 178 shares during the last quarter. Finally, National Bank of Canada FI increased its position in IDEX by 7.3% during the 4th quarter. National Bank of Canada FI now owns 20,187 shares of the industrial products company’s stock valued at $4,341,000 after purchasing an additional 1,382 shares during the period. 97.96% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on IEX. StockNews.com lowered shares of IDEX from a “buy” rating to a “hold” rating in a research note on Thursday. Citigroup raised their target price on IDEX from $254.00 to $277.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Robert W. Baird reduced their price target on IDEX from $260.00 to $256.00 and set an “outperform” rating on the stock in a research note on Thursday, April 25th. Oppenheimer upped their target price on shares of IDEX from $245.00 to $252.00 and gave the stock an “outperform” rating in a research report on Thursday, April 18th. Finally, Stifel Nicolaus raised 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 report on Thursday, February 8th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, IDEX presently has an average rating of “Moderate Buy” and an average target price of $250.71.

IDEX Trading Up 0.8 %

IEX stock traded up $1.73 during midday trading on Monday, reaching $222.15. 331,383 shares of the company traded hands, compared to its average volume of 380,399. The firm has a market capitalization of $16.81 billion, a price-to-earnings ratio of 29.37, a P/E/G ratio of 2.21 and a beta of 0.99. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.45 and a current ratio of 3.37. The business has a 50 day moving average of $235.22 and a 200-day moving average of $217.49. IDEX Co. has a 52-week low of $183.76 and a 52-week high of $246.36.

IDEX (NYSE:IEX) last posted its quarterly earnings data 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. The company had revenue of $801.00 million during the quarter, compared to analyst estimates of $807.52 million. IDEX had a net margin of 17.89% and a return on equity of 17.60%. IDEX’s quarterly revenue was down 5.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.09 earnings per share. As a group, sell-side analysts expect that IDEX Co. will post 8.33 earnings per share for the current fiscal 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.