LPL Financial LLC raised its holdings in IDEX Co. (NYSE:IEX – Free Report) by 60.0% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 12,592 shares of the industrial products company’s stock after acquiring an additional 4,724 shares during the period. LPL Financial LLC’s holdings in IDEX were worth $2,909,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of IEX. Vanguard Group Inc. increased its holdings in shares of IDEX by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 8,802,857 shares of the industrial products company’s stock worth $1,687,772,000 after buying an additional 53,138 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in IDEX by 10.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,269,952 shares of the industrial products company’s stock valued at $746,628,000 after buying an additional 306,008 shares during the last quarter. Wellington Management Group LLP boosted its position in IDEX by 3.9% in the 1st quarter. Wellington Management Group LLP now owns 3,106,765 shares of the industrial products company’s stock valued at $595,660,000 after buying an additional 117,605 shares during the last quarter. Alliancebernstein L.P. boosted its position in IDEX by 1.8% in the 4th quarter. Alliancebernstein L.P. now owns 2,736,556 shares of the industrial products company’s stock valued at $624,838,000 after buying an additional 48,631 shares during the last quarter. Finally, Morgan Stanley lifted its position in shares of IDEX by 274.1% during the fourth quarter. Morgan Stanley now owns 2,151,334 shares of the industrial products company’s stock worth $491,214,000 after purchasing an additional 1,576,263 shares during the last quarter. 94.85% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
IEX has been the topic of a number of recent research reports. Stifel Nicolaus raised their target price on shares of IDEX from $214.00 to $220.00 and gave the stock a “hold” rating in a report on Wednesday, July 19th. Oppenheimer reissued an “outperform” rating and set a $245.00 target price on shares of IDEX in a report on Monday, July 31st. Citigroup upped their price target on IDEX from $243.00 to $255.00 and gave the company a “buy” rating in a report on Friday, July 28th. StockNews.com began coverage on IDEX in a report on Thursday, August 17th. They issued a “hold” rating on the stock. Finally, Argus lifted their price objective on shares of IDEX from $225.00 to $250.00 and gave the stock a “buy” rating in a research report on Thursday, August 24th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, IDEX currently has an average rating of “Moderate Buy” and a consensus target price of $236.92.
IDEX Trading Down 2.4 %
Shares of NYSE:IEX opened at $222.78 on Wednesday. The stock has a market capitalization of $16.84 billion, a PE ratio of 28.82, a P/E/G ratio of 2.39 and a beta of 0.99. The company has a current ratio of 3.06, a quick ratio of 2.07 and a debt-to-equity ratio of 0.45. IDEX Co. has a 1 year low of $195.27 and a 1 year high of $246.23. The firm has a fifty day moving average price of $218.40 and a 200 day moving average price of $215.93.
IDEX (NYSE:IEX – Get Free Report) last released its earnings results on Wednesday, July 26th. The industrial products company reported $2.18 earnings per share for the quarter, topping analysts’ consensus estimates of $2.11 by $0.07. The firm had revenue of $846.20 million during the quarter, compared to analyst estimates of $852.28 million. IDEX had a net margin of 17.65% and a return on equity of 20.69%. The business’s revenue was up 6.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.02 EPS. Analysts expect that IDEX Co. will post 7.97 EPS for the current fiscal year.
IDEX Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, July 28th. Stockholders of record on Friday, July 14th were given a dividend of $0.64 per share. This represents a $2.56 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date was Thursday, July 13th. IDEX’s dividend payout ratio is currently 33.12%.
IDEX Company Profile
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.
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