California Public Employees Retirement System Increases Position in IDEX Co. (NYSE:IEX)

California Public Employees Retirement System grew its stake in IDEX Co. (NYSE:IEX) by 1.9% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 269,023 shares of the industrial products company’s stock after purchasing an additional 5,093 shares during the period. California Public Employees Retirement System’s holdings in IDEX were worth $58,408,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Planned Solutions Inc. acquired a new stake in IDEX during the 4th quarter worth $33,000. Compagnie Lombard Odier SCmA acquired a new stake in IDEX during the 4th quarter worth $54,000. Cary Street Partners Investment Advisory LLC raised its position in IDEX by 30.9% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 339 shares of the industrial products company’s stock worth $71,000 after buying an additional 80 shares during the last quarter. Desjardins Global Asset Management Inc. raised its position in IDEX by 25.6% during the 4th quarter. Desjardins Global Asset Management Inc. now owns 388 shares of the industrial products company’s stock worth $84,000 after buying an additional 79 shares during the last quarter. Finally, Orion Capital Management LLC purchased a new position in shares of IDEX in the 3rd quarter valued at about $86,000. Institutional investors and hedge funds own 97.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on IEX shares. Stifel Nicolaus upgraded shares of IDEX from a “hold” rating to a “buy” rating and raised their target price for the company from $215.00 to $265.00 in a report on Thursday, February 8th. Oppenheimer raised their price target on shares of IDEX from $245.00 to $252.00 and gave the stock an “outperform” rating in a research note on Thursday, April 18th. Robert W. Baird decreased their price target on shares of IDEX from $260.00 to $256.00 and set an “outperform” rating on the stock in a research note on Thursday. StockNews.com cut shares of IDEX from a “buy” rating to a “hold” rating in a research report on Wednesday. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $255.00 target price on shares of IDEX in a research report on Thursday, March 21st. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $241.67.

IDEX Stock Down 0.6 %

Shares of NYSE:IEX opened at $223.29 on Friday. The firm has a market cap of $16.90 billion, a PE ratio of 29.38, a price-to-earnings-growth ratio of 2.24 and a beta of 0.97. The company has a fifty day simple moving average of $236.49 and a 200 day simple moving average of $216.60. The company has a current ratio of 3.37, a quick ratio of 2.05 and a debt-to-equity ratio of 0.37. IDEX Co. has a 12-month low of $183.76 and a 12-month high of $246.36.

IDEX (NYSE:IEX) last posted its quarterly earnings data on Tuesday, April 23rd. The industrial products company reported $1.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.76 by $0.12. The firm 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 17.60% and a net margin of 17.89%. The business’s revenue for the quarter was down 5.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.09 EPS. On average, equities research analysts anticipate that IDEX Co. will post 8.34 EPS 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.