IDEX Co. (IEX) Stake Lifted by Clearbridge Investments LLC
Clearbridge Investments LLC lifted its position in shares of IDEX Co. (NYSE:IEX) by 0.6% during the 4th quarter, Holdings Channel reports. The firm owned 1,313,121 shares of the industrial products company’s stock after purchasing an additional 7,496 shares during the quarter. Clearbridge Investments LLC’s holdings in IDEX were worth $173,293,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also recently added to or reduced their stakes in the company. Assetmark Inc. acquired a new position in shares of IDEX during the 4th quarter worth about $118,000. Calton & Associates Inc. bought a new stake in shares of IDEX during the 4th quarter worth about $160,000. Advisor Group Inc. boosted its holdings in shares of IDEX by 166.3% during the 4th quarter. Advisor Group Inc. now owns 1,374 shares of the industrial products company’s stock worth $182,000 after buying an additional 858 shares during the period. Stock Yards Bank & Trust Co. bought a new stake in shares of IDEX during the 4th quarter worth about $201,000. Finally, Community Bank N.A. bought a new stake in shares of IDEX during the 4th quarter worth about $203,000. Institutional investors own 95.34% of the company’s stock.
Shares of IDEX Co. (IEX) opened at $147.45 on Friday. The company has a quick ratio of 2.06, a current ratio of 2.78 and a debt-to-equity ratio of 0.46. The stock has a market cap of $10,931.53, a PE ratio of 33.82, a price-to-earnings-growth ratio of 2.17 and a beta of 1.25. IDEX Co. has a twelve month low of $89.69 and a twelve month high of $148.32.
IEX has been the subject of several research analyst reports. BMO Capital Markets lifted their target price on shares of IDEX to $143.00 and gave the stock a “market perform” rating in a report on Wednesday, January 31st. They noted that the move was a valuation call. Stifel Nicolaus reaffirmed a “hold” rating and set a $132.00 target price on shares of IDEX in a report on Thursday, December 14th. SunTrust Banks lifted their target price on shares of IDEX to $145.00 in a report on Thursday, February 1st. They noted that the move was a valuation call. Wells Fargo & Co set a $155.00 target price on shares of IDEX and gave the stock a “buy” rating in a report on Thursday, January 18th. Finally, Zacks Investment Research raised shares of IDEX from a “hold” rating to a “buy” rating and set a $162.00 target price for the company in a report on Friday, February 2nd. Ten research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $137.56.
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IDEX Corporation (IDEX) operates an applied solutions business that sells pumps, flow meters and other fluidics systems, and components and engineered products. The Company operates through three segments: Fluid & Metering Technologies (FMT), Health & Science Technologies (HST) and Fire & Safety/Diversified Products (FSDP).
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