Outlook Wealth Advisors LLC Raises Stake in IDEX Co. (NYSE:IEX)

Outlook Wealth Advisors LLC increased its stake in shares of IDEX Co. (NYSE:IEX) by 27.0% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,250 shares of the industrial products company’s stock after buying an additional 266 shares during the period. Outlook Wealth Advisors LLC’s holdings in IDEX were worth $305,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Nordea Investment Management AB increased its holdings in IDEX by 1,196.4% in the 4th quarter. Nordea Investment Management AB now owns 135,825 shares of the industrial products company’s stock worth $29,598,000 after acquiring an additional 125,348 shares during the last quarter. Impax Asset Management Group plc increased its stake in shares of 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 purchasing an additional 84,502 shares in the last quarter. Lincoln National Corp raised its position in shares of IDEX by 7.1% in the third quarter. Lincoln National Corp now owns 1,564 shares of the industrial products company’s stock valued at $325,000 after purchasing an additional 104 shares during the period. Deutsche Bank AG raised its holdings in IDEX by 13.3% during the 3rd quarter. Deutsche Bank AG now owns 244,610 shares of the industrial products company’s stock valued at $50,884,000 after acquiring an additional 28,661 shares during the period. Finally, Raymond James & Associates raised its stake in shares of IDEX by 11.2% during the 4th quarter. Raymond James & Associates now owns 76,465 shares of the industrial products company’s stock valued at $16,601,000 after purchasing an additional 7,684 shares during the period. Institutional investors own 97.96% of the company’s stock.

IDEX Trading Down 1.2 %

NYSE IEX traded down $2.62 during trading on Friday, hitting $220.66. The company had a trading volume of 348,958 shares, compared to its average volume of 313,549. IDEX Co. has a one year low of $183.76 and a one year high of $246.36. The company has a current ratio of 3.37, a quick ratio of 2.05 and a debt-to-equity ratio of 0.37. The company’s fifty day moving average is $236.36 and its 200-day moving average is $216.69. The company has a market cap of $16.70 billion, a price-to-earnings ratio of 29.03, a price-to-earnings-growth ratio of 2.23 and a beta of 0.97.

IDEX (NYSE:IEX) last released its earnings results on Tuesday, April 23rd. The industrial products company reported $1.88 earnings per share for the quarter, topping analysts’ consensus estimates 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 net margin of 17.89% and a return on equity of 17.60%. The company’s revenue was down 5.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.09 EPS. On average, sell-side analysts predict that IDEX Co. will post 8.34 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Stifel Nicolaus upgraded IDEX from a “hold” rating to a “buy” rating and lifted their price target for the company from $215.00 to $265.00 in a research report on Thursday, February 8th. Royal Bank of Canada reissued an “outperform” rating and issued a $255.00 price target on shares of IDEX in a research note on Thursday, March 21st. Citigroup raised their price objective on shares of IDEX from $254.00 to $277.00 and gave the company a “buy” rating in a research report on Monday, April 8th. Robert W. Baird cut their target price on shares of IDEX from $260.00 to $256.00 and set an “outperform” rating for the company in a research report on Thursday. Finally, Oppenheimer boosted their target price on IDEX from $245.00 to $252.00 and gave the stock an “outperform” rating in a research report on Thursday, April 18th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $241.67.

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.