Sonen Capital LLC Acquires 319 Shares of IDEX Co. (NYSE:IEX)

Sonen Capital LLC grew its holdings in shares of IDEX Co. (NYSE:IEX) by 13.0% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 2,776 shares of the industrial products company’s stock after acquiring an additional 319 shares during the quarter. Sonen Capital LLC’s holdings in IDEX were worth $603,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in IEX. Impax Asset Management Group plc raised its stake in IDEX by 4.0% in the fourth quarter. Impax Asset Management Group plc now owns 2,190,741 shares of the industrial products company’s stock worth $475,632,000 after buying an additional 84,502 shares in the last quarter. Barclays PLC raised its position in shares of IDEX by 3.3% in the 3rd quarter. Barclays PLC now owns 1,143,583 shares of the industrial products company’s stock worth $237,890,000 after acquiring an additional 36,928 shares in the last quarter. Northern Trust Corp lifted its stake in shares of IDEX by 6.1% in the 3rd quarter. Northern Trust Corp now owns 785,716 shares of the industrial products company’s stock valued at $163,445,000 after purchasing an additional 45,120 shares during the period. Alecta Tjanstepension Omsesidigt boosted its position in shares of IDEX by 420.8% during the fourth quarter. Alecta Tjanstepension Omsesidigt now owns 781,172 shares of the industrial products company’s stock valued at $169,600,000 after purchasing an additional 631,172 shares in the last quarter. Finally, Fenimore Asset Management Inc. grew its stake in IDEX by 3.9% in the third quarter. Fenimore Asset Management Inc. now owns 773,412 shares of the industrial products company’s stock worth $160,885,000 after purchasing an additional 29,258 shares during the period. Institutional investors own 97.96% of the company’s stock.

IDEX Trading Down 1.2 %

NYSE:IEX opened at $220.66 on Friday. The stock has a market cap of $16.70 billion, a price-to-earnings ratio of 29.03, a PEG ratio of 2.20 and a beta of 0.97. The company has a quick ratio of 2.05, a current ratio of 3.37 and a debt-to-equity ratio of 0.37. The company’s 50 day moving average price is $236.36 and its 200-day moving average price is $216.75. IDEX Co. has a 52 week low of $183.76 and a 52 week high of $246.36.

IDEX (NYSE:IEX) last issued its earnings results on Tuesday, April 23rd. The industrial products company reported $1.88 EPS for the quarter, beating the consensus estimate of $1.76 by $0.12. IDEX had a return on equity of 17.60% and a net margin of 17.89%. The business had revenue of $801.00 million for the quarter, compared to the consensus estimate of $807.52 million. During the same period last year, the business posted $2.09 EPS. The company’s revenue was down 5.3% compared to the same quarter last year. On average, equities research analysts forecast that IDEX Co. will post 8.33 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

About IDEX

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.