Boston Financial Mangement LLC Invests $226,000 in IDEX Co. (NYSE:IEX)

Boston Financial Mangement LLC purchased a new stake in IDEX Co. (NYSE:IEX) during the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 1,078 shares of the industrial products company’s stock, valued at approximately $226,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. State Street Corp lifted its stake in IDEX by 0.5% in the 3rd quarter. State Street Corp now owns 3,017,976 shares of the industrial products company’s stock valued at $647,356,000 after buying an additional 15,077 shares in the last quarter. Wellington Management Group LLP lifted its stake in IDEX by 108.4% in the 3rd quarter. Wellington Management Group LLP now owns 2,830,929 shares of the industrial products company’s stock valued at $607,234,000 after buying an additional 1,472,456 shares in the last quarter. Geode Capital Management LLC lifted its stake in IDEX by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,891,175 shares of the industrial products company’s stock valued at $404,339,000 after buying an additional 23,388 shares in the last quarter. Champlain Investment Partners LLC lifted its stake in IDEX by 28.8% in 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 buying an additional 273,460 shares in the last quarter. Finally, Barclays PLC lifted its stake in IDEX by 1.2% in the 3rd quarter. Barclays PLC now owns 1,177,645 shares of the industrial products company’s stock valued at $252,603,000 after buying an additional 14,360 shares in the last quarter. 97.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on IEX. Royal Bank of Canada decreased their price target on shares of IDEX from $256.00 to $245.00 and set an “outperform” rating on the stock in a research note on Thursday, February 6th. Citigroup decreased their target price on shares of IDEX from $269.00 to $267.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Stifel Nicolaus raised their target price on shares of IDEX from $244.00 to $256.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. DA Davidson decreased 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. Finally, Robert W. Baird decreased their target price on shares of IDEX from $245.00 to $241.00 and set an “outperform” rating on the stock in a research note on Thursday, October 31st. Three 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, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $241.71.

IDEX Stock Down 1.4 %

Shares of NYSE IEX opened at $195.92 on Friday. The company has a 50 day simple moving average of $210.29 and a 200-day simple moving average of $211.39. The company has a market capitalization of $14.83 billion, a P/E ratio of 29.46, a P/E/G ratio of 1.97 and a beta of 0.97. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.53 and a quick ratio of 1.85. IDEX Co. has a 1 year low of $189.51 and a 1 year high of $246.36.

IDEX (NYSE:IEX) last announced its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $2.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.03 by $0.01. IDEX had a net margin of 15.45% and a return on equity of 16.08%. On average, equities research analysts predict that IDEX Co. will post 8.31 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.