Investment management firm Strs Ohio has added 8,772 shares in IDEX Corporation. Total worth around $2m, to its holdings in the fourth quarter, according to Securities and Exchange Commission filings. Other institutional investors such as Diversified Trust and Wedmont Private Capital also acquired shares in the company. Hedge funds and other institutional investors hold 96.58% of the stock. Several analysts have given mixed ratings for IDEX, with six calling it a hold and five calling it a buy. The company’s shares are currently trading at $220.41. The industrial products company recently reported Q4 2022 results with EPS of $2.01, topping estimates by $0.03, and revenue of $810.7m, up 13.4% YoY.
IDEX Corporation, which has a market capitalization of $16.66bn, has a financial ratio of 0.48 and a beta of 1.00. The company’s current ratio is 2.57, while its quick ratio is 1.71. IDEX’s 52-week high is $246.23 and its low is $172.18. Its price-to-earnings ratio is 28.59 and its P/E/G ratio is 2.07. The company operates in various segments, including fluid and metering technologies, health and science technologies, and fire and safety/detection technologies. With its most recent earnings report beating expectations, IDEX may continue to attract the interest of institutional investors.
IDEX Corporation Stock Forecast
IDEX Corporation is expected to reach an average analyst target price of USD 240.89 in the next 12 months. According to the stock forecast of 13 analysts. The average analyst rating for the company is Buy. However, Stock Target Advisor’s analysis of the company’s stock is Neutral, based on 7 positive signals and 7 negative signals. IDEX stock price at the last closing was USD 220.41, which has changed by -0.82% over the past week, +0.22% over the past month, and +12.96% over the last year.
Company Overview
IDEX Corporation is a global provider of applied solutions, operating through three segments: Fluid & Metering Technologies, Health & Science Technologies, and Fire & Safety/Diversified Products. The Fluid & Metering Technologies segment offers a range of fluid handling products and services to industries including food, chemical, water, energy, and agriculture. The Health & Science Technologies segment provides precision fluidics, pumps, sealing solutions, medical devices, and laboratory equipment to industries such as pharmaceuticals, life sciences, and defense. The Fire & Safety/Diversified Products segment offers firefighting pumps and tools, stainless steel banding devices, and equipment for dispensing and mixing paints. IDEX Corporation was founded in 1987 and is headquartered in Northbrook, Illinois.
