SOA Wealth Advisors LLC. Acquires New Position in IDEX Co. (NYSE:IEX)

SOA Wealth Advisors LLC. bought a new position in IDEX Co. (NYSE:IEX) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 150 shares of the industrial products company’s stock, valued at approximately $29,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Norges Bank purchased a new position in shares of IDEX during the 4th quarter worth $143,190,000. Nordea Investment Management AB lifted its position in IDEX by 29.5% during the fourth quarter. Nordea Investment Management AB now owns 818,300 shares of the industrial products company’s stock worth $163,005,000 after buying an additional 186,357 shares during the period. Amundi Pioneer Asset Management Inc. boosted its stake in IDEX by 119.5% in the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 332,235 shares of the industrial products company’s stock worth $66,181,000 after buying an additional 180,903 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its stake in IDEX by 6,462.8% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 112,420 shares of the industrial products company’s stock worth $22,393,000 after purchasing an additional 110,707 shares during the period. Finally, KBC Group NV boosted its holdings in shares of IDEX by 114.8% in the 4th quarter. KBC Group NV now owns 206,546 shares of the industrial products company’s stock valued at $41,144,000 after purchasing an additional 110,402 shares during the last quarter. Institutional investors own 96.59% of the company’s stock.

A number of research analysts recently weighed in on IEX shares. Zacks Investment Research upgraded IDEX from a “hold” rating to a “buy” rating and set a $199.00 target price on the stock in a report on Friday, February 5th. Wells Fargo & Company reaffirmed a “buy” rating and issued a $178.00 price objective on shares of IDEX in a research note on Tuesday, February 9th. Cowen cut IDEX from an “outperform” rating to a “market perform” rating and boosted their price objective for the stock from $200.00 to $220.00 in a research note on Thursday, January 14th. Rosenblatt Securities lifted their price target on shares of IDEX from $220.00 to $225.00 and gave the stock a “buy” rating in a research note on Friday, February 5th. Finally, Morgan Stanley assumed coverage on shares of IDEX in a research report on Wednesday, March 31st. They set an “overweight” rating and a $230.00 price target for the company. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $191.89.

NYSE IEX opened at $217.42 on Friday. The company has a current ratio of 3.71, a quick ratio of 2.97 and a debt-to-equity ratio of 0.44. IDEX Co. has a 1 year low of $141.86 and a 1 year high of $218.58. The company has a market cap of $16.51 billion, a PE ratio of 44.46, a PEG ratio of 3.53 and a beta of 1.08. The stock’s 50-day moving average price is $201.84 and its two-hundred day moving average price is $194.27.

IDEX (NYSE:IEX) last released its earnings results on Tuesday, February 2nd. The industrial products company reported $1.37 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.06. The business had revenue of $614.80 million for the quarter, compared to the consensus estimate of $601.26 million. IDEX had a net margin of 15.94% and a return on equity of 17.21%. The firm’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same period last year, the firm posted $1.33 earnings per share. Research analysts forecast that IDEX Co. will post 5.15 EPS for the current fiscal year.

In other news, SVP Denise R. Cade sold 3,750 shares of the stock in a transaction on Tuesday, February 16th. The stock was sold at an average price of $200.11, for a total value of $750,412.50. 1.10% of the stock is owned by insiders.

About IDEX

IDEX Corporation, together with its subsidiaries, operates as an applied solutions company 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, small volume provers, flow meters, injectors, and other fluid-handling pump modules and systems, as well as offers flow monitoring and other services for the food, chemical, general industrial, water and wastewater, agricultural, and energy industries.

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Institutional Ownership by Quarter for IDEX (NYSE:IEX)

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