Nicolet Advisory Services LLC Takes Position in IDEX Co. (NYSE:IEX)

Nicolet Advisory Services LLC bought a new position in IDEX Co. (NYSE:IEX) during the fourth quarter, according to its most recent filing with the SEC. The firm bought 979 shares of the industrial products company’s stock, valued at approximately $202,000.

Other hedge funds have also bought and sold shares of the company. Asset Management One Co. Ltd. lifted its stake in shares of IDEX by 4.2% in the fourth quarter. Asset Management One Co. Ltd. now owns 30,250 shares of the industrial products company’s stock valued at $6,386,000 after buying an additional 1,209 shares in the last quarter. Assetmark Inc. lifted its position in IDEX by 129.1% in the 4th quarter. Assetmark Inc. now owns 417 shares of the industrial products company’s stock valued at $87,000 after acquiring an additional 235 shares in the last quarter. Covea Finance boosted its stake in IDEX by 70.6% during the 4th quarter. Covea Finance now owns 14,500 shares of the industrial products company’s stock valued at $3,035,000 after purchasing an additional 6,000 shares during the last quarter. Barclays PLC increased its holdings in IDEX by 1.2% during the 3rd quarter. Barclays PLC now owns 1,177,645 shares of the industrial products company’s stock worth $252,603,000 after purchasing an additional 14,360 shares in the last quarter. Finally, Park Avenue Securities LLC raised its stake in shares of IDEX by 27.0% in the fourth quarter. Park Avenue Securities LLC now owns 2,330 shares of the industrial products company’s stock worth $488,000 after purchasing an additional 495 shares during the last quarter. Institutional investors and hedge funds own 97.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on IEX shares. Royal Bank of Canada cut their target price on IDEX from $256.00 to $245.00 and set an “outperform” rating on the stock in a research report on Thursday, February 6th. Stifel Nicolaus lifted their price objective on shares of IDEX from $244.00 to $256.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. DA Davidson lowered their target price on shares of IDEX from $225.00 to $215.00 and set a “neutral” rating for the company in a report on Wednesday, February 19th. Finally, Citigroup cut their price target on shares of IDEX from $269.00 to $267.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $241.71.

IDEX Price Performance

IEX opened at $162.33 on Friday. IDEX Co. has a fifty-two week low of $160.13 and a fifty-two week high of $241.97. The firm has a 50-day moving average of $192.73 and a 200 day moving average of $208.49. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.85 and a current ratio of 2.53. The firm has a market cap of $12.26 billion, a P/E ratio of 24.41, a PEG ratio of 1.98 and a beta of 1.05.

IDEX (NYSE:IEX) last released its earnings results on Tuesday, February 4th. The industrial products company reported $2.04 earnings per share for the quarter, beating 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, research analysts expect that IDEX Co. will post 8.26 EPS for the current year.

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.