15 Best Industrial Machinery and Supplies Stocks to Buy According to Hedge Funds

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6. IDEX Corporation (NYSE:IEX)

Number of Hedge Fund Holders: 39

IDEX Corporation (NYSE:IEX) is one of the 15 Best Industrial Machinery and Supplies stocks to buy according to Hedge Funds.

As of February 3 closing, sentiment around IDEX Corporation (NYSE:IEX) was strongly bullish. The stock had received coverage from 4 analysts, all of whom assigned Buy ratings. The median 1-year price target for the stock is $208.25, as per consensus.

On January 15, the price target on IDEX Corporation (NYSE:IEX) was revised from $195 to $211 by RBC Capital analyst Deane Dray. The analyst also reiterated his Outperform rating on the stock based on the upcoming fourth-quarter results preview for the Multi-Industry segment. Dray maintains an optimistic view of the sector and appreciates prevailing valuations despite “sluggish and uneven demand” across the industrials space. He also highlighted several multi-year tailwinds such as megaprojects, datacenter momentum, energy transition, and reshoring, that are expected to drive returns in the foreseeable future.

IDEX Corporation (NYSE:IEX) delivers applied solutions across the globe through its three business segments: Fluid & Metering Technologies, Health & Science Technologies, and Fire & Safety/Diversified Products. The company is structured around 50 decentralized businesses, offering high-impact products along with operational efficiency.

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