Thoroughbred Financial Services LLC Invests $201,000 in IDEX Co. (NYSE:IEX)

Thoroughbred Financial Services LLC purchased a new stake in IDEX Co. (NYSE:IEX) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,001 shares of the industrial products company’s stock, valued at approximately $201,000.

A number of other hedge funds have also bought and sold shares of IEX. DekaBank Deutsche Girozentrale raised its holdings in shares of IDEX by 10.4% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 113,854 shares of the industrial products company’s stock worth $22,752,000 after buying an additional 10,707 shares in the last quarter. Nuance Investments LLC raised its stake in IDEX by 125.5% during the second quarter. Nuance Investments LLC now owns 143,343 shares of the industrial products company’s stock worth $28,841,000 after acquiring an additional 79,771 shares in the last quarter. Robeco Schweiz AG lifted its holdings in shares of IDEX by 29.5% in the second quarter. Robeco Schweiz AG now owns 337,290 shares of the industrial products company’s stock worth $67,863,000 after acquiring an additional 76,867 shares during the last quarter. Vest Financial LLC boosted its stake in shares of IDEX by 58.1% in the 2nd quarter. Vest Financial LLC now owns 5,445 shares of the industrial products company’s stock valued at $1,096,000 after purchasing an additional 2,000 shares in the last quarter. Finally, Forsta AP Fonden grew its holdings in shares of IDEX by 27.8% during the 2nd quarter. Forsta AP Fonden now owns 22,500 shares of the industrial products company’s stock valued at $4,527,000 after purchasing an additional 4,900 shares during the last quarter. 97.96% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on IEX. DA Davidson dropped their price objective on shares of IDEX from $220.00 to $210.00 and set a “neutral” rating for the company in a report on Monday, August 5th. Royal Bank of Canada cut their price target on shares of IDEX from $250.00 to $236.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. StockNews.com lowered shares of IDEX from a “buy” rating to a “hold” rating in a research note on Thursday, July 11th. TD Cowen cut their target price on IDEX from $240.00 to $230.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Finally, Oppenheimer dropped their price target on IDEX from $245.00 to $238.00 and set an “outperform” rating on the stock in a report on Monday, August 5th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, IDEX currently has an average rating of “Moderate Buy” and an average price target of $233.50.

IDEX Stock Performance

Shares of IEX stock opened at $205.60 on Thursday. The firm has a market capitalization of $15.56 billion, a price-to-earnings ratio of 27.05, a PEG ratio of 2.09 and a beta of 0.95. The stock has a fifty day moving average of $200.65 and a 200 day moving average of $214.08. IDEX Co. has a 52 week low of $183.76 and a 52 week high of $246.36. The company has a quick ratio of 2.52, a current ratio of 3.41 and a debt-to-equity ratio of 0.36.

IDEX (NYSE:IEX) last posted its earnings results on Wednesday, July 31st. The industrial products company reported $2.06 earnings per share for the quarter, topping analysts’ consensus estimates of $2.04 by $0.02. IDEX had a return on equity of 16.87% and a net margin of 18.19%. The firm had revenue of $807.20 million for the quarter, compared to the consensus estimate of $828.15 million. During the same quarter in the prior year, the business earned $2.18 EPS. The business’s revenue for the quarter was down 4.6% on a year-over-year basis. As a group, research analysts expect that IDEX Co. will post 7.88 earnings per share 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.