Resona Asset Management Co. Ltd. Makes New Investment in IDEX Co. (NYSE:IEX)

Resona Asset Management Co. Ltd. purchased a new stake in IDEX Co. (NYSE:IEX) during the fourth quarter, according to its most recent filing with the SEC. The firm purchased 23,167 shares of the industrial products company’s stock, valued at approximately $4,854,000.

Other large investors have also recently made changes to their positions in the company. Jones Financial Companies Lllp raised its holdings in IDEX by 35.2% in the fourth quarter. Jones Financial Companies Lllp now owns 407 shares of the industrial products company’s stock worth $85,000 after purchasing an additional 106 shares in the last quarter. Assetmark Inc. grew its position in shares of IDEX by 129.1% in the 4th quarter. Assetmark Inc. now owns 417 shares of the industrial products company’s stock worth $87,000 after buying an additional 235 shares during the last quarter. BankPlus Trust Department purchased a new stake in IDEX during the fourth quarter valued at approximately $123,000. EverSource Wealth Advisors LLC boosted its stake in IDEX by 49.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 590 shares of the industrial products company’s stock valued at $123,000 after acquiring an additional 196 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in IDEX by 416.0% in the fourth quarter. GAMMA Investing LLC now owns 614 shares of the industrial products company’s stock worth $129,000 after purchasing an additional 495 shares during the last quarter. 97.96% of the stock is owned by institutional investors.

IDEX Trading Down 0.6 %

Shares of IDEX stock opened at $161.89 on Wednesday. The stock has a market cap of $12.23 billion, a PE ratio of 24.34, a price-to-earnings-growth ratio of 1.98 and a beta of 1.05. The firm has a fifty day moving average price of $189.23 and a 200 day moving average price of $207.55. IDEX Co. has a 1 year low of $153.36 and a 1 year high of $241.97. 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 (NYSE:IEX) last released its quarterly earnings data 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 return on equity of 16.08% and a net margin of 15.45%. Equities research analysts predict that IDEX Co. will post 8.26 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

IDEX 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.