AlphaCrest Capital Management LLC Has $658,000 Stock Holdings in IDEX Co. (NYSE:IEX)

Posted by Defense World Staff on Mar 8th, 2023

AlphaCrest Capital Management LLC grew its position in shares of IDEX Co. (NYSE:IEX – Get Rating) by 63.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,293 shares of the industrial products company’s stock after purchasing an additional 1,273 shares during the quarter. AlphaCrest Capital Management LLC’s holdings in IDEX were worth $658,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of IDEX by 0.6% during the first quarter. Vanguard Group Inc. now owns 8,802,857 shares of the industrial products company’s stock valued at $1,687,772,000 after purchasing an additional 53,138 shares in the last quarter. Wellington Management Group LLP lifted its stake in shares of IDEX by 3.9% in the first quarter. Wellington Management Group LLP now owns 3,106,765 shares of the industrial products company’s stock worth $595,660,000 after acquiring an additional 117,605 shares during the period. Pictet Asset Management SA lifted its stake in shares of IDEX by 13.7% in the third quarter. Pictet Asset Management SA now owns 1,602,662 shares of the industrial products company’s stock worth $320,292,000 after acquiring an additional 192,917 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in shares of IDEX by 12.5% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,374,792 shares of the industrial products company’s stock worth $249,705,000 after acquiring an additional 152,391 shares during the period. Finally, Champlain Investment Partners LLC lifted its stake in shares of IDEX by 15.3% in the second quarter. Champlain Investment Partners LLC now owns 1,294,990 shares of the industrial products company’s stock worth $235,209,000 after acquiring an additional 172,140 shares during the period. 96.58% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO William K. Grogan sold 3,181 shares of the business’s stock in a transaction that occurred on Thursday, February 9th. The stock was sold at an average price of $226.36, for a total transaction of $720,051.16. Following the completion of the sale, the chief financial officer now owns 13,864 shares in the company, valued at $3,138,255.04. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.50% of the company’s stock.

Analyst Ratings Changes

IEX has been the topic of a number of recent analyst reports. Morgan Stanley lifted their price objective on IDEX from $235.00 to $250.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 18th. StockNews.com lowered IDEX from a “buy” rating to a “hold” rating in a research note on Saturday. Citigroup cut their price objective on IDEX from $273.00 to $268.00 and set a “buy” rating on the stock in a research note on Thursday, February 2nd. DA Davidson lifted their price objective on IDEX from $220.00 to $225.00 in a research note on Tuesday, November 22nd. Finally, Mizuho lifted their target price on IDEX from $225.00 to $227.00 and gave the stock a “neutral” rating in a report on Thursday, February 2nd. Six 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, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $238.25.

IDEX Trading Down 1.4 %

NYSE IEX opened at $224.06 on Wednesday. The company has a market cap of $16.92 billion, a price-to-earnings ratio of 29.06, a P/E/G ratio of 2.21 and a beta of 0.99. IDEX Co. has a 52 week low of $172.18 and a 52 week high of $246.23. The business has a 50 day moving average price of $229.42 and a 200-day moving average price of $221.69. The company has a quick ratio of 1.71, a current ratio of 2.57 and a debt-to-equity ratio of 0.48.

IDEX (NYSE:IEX – Get Rating) last released its quarterly earnings data on Wednesday, February 1st. The industrial products company reported $2.01 EPS for the quarter, beating the consensus estimate of $1.98 by $0.03. The firm had revenue of $810.70 million during the quarter, compared to the consensus estimate of $772.75 million. IDEX had a return on equity of 21.44% and a net margin of 18.44%. The company’s quarterly revenue was up 13.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.55 earnings per share. As a group, equities analysts expect that IDEX Co. will post 8.61 earnings per share for the current fiscal year.

IDEX Profile

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IDEX Corp. engages in the provision of engineering solutions. It operates through the following segments: Fluid and Metering Technologies, Health and Science Technologies, and Fire and Safety or Diversified Products. The Fluid and Metering Technologies segment is involved in the design, production, and distribution of displacement pumps, valves, flow meters, injectors, and fluid-handling pump modules and systems.

AlphaCrest Capital Management LLC Has $658,000 Stock Holdings in IDEX Co. (NYSE:IEX)

Insider Activity

Analyst Ratings Changes

IDEX Trading Down 1.4 %

IDEX Profile

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