Fourpath Capital Management LLC cut its stake in IDEX Co. (NYSE:IEX - Free Report) by 16.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,354 shares of the industrial products company's stock after selling 1,217 shares during the period. Fourpath Capital Management LLC's holdings in IDEX were worth $1,330,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors also recently bought and sold shares of the stock. Sumitomo Mitsui Trust Group Inc. boosted its position in IDEX by 2.7% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 168,023 shares of the industrial products company's stock valued at $36,041,000 after buying an additional 4,465 shares during the last quarter. Cerity Partners LLC increased its holdings in shares of IDEX by 48.3% during the 3rd quarter. Cerity Partners LLC now owns 20,632 shares of the industrial products company's stock valued at $4,426,000 after purchasing an additional 6,720 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in shares of IDEX by 7.1% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 250,443 shares of the industrial products company's stock valued at $53,720,000 after purchasing an additional 16,504 shares during the period. Covea Finance boosted its holdings in IDEX by 70.6% during the fourth quarter. Covea Finance now owns 14,500 shares of the industrial products company's stock worth $3,035,000 after buying an additional 6,000 shares in the last quarter. Finally, B.O.S.S. Retirement Advisors LLC grew its position in IDEX by 17.3% during the third quarter. B.O.S.S. Retirement Advisors LLC now owns 27,805 shares of the industrial products company's stock valued at $5,964,000 after buying an additional 4,096 shares during the period. Hedge funds and other institutional investors own 97.96% of the company's stock.
Analyst Ratings Changes
IEX has been the topic of several recent analyst reports. Robert W. Baird lowered their target price on shares of IDEX from $245.00 to $241.00 and set an "outperform" rating on the stock in a research note on Thursday, October 31st. Citigroup dropped their price objective on IDEX from $269.00 to $267.00 and set a "buy" rating on the stock in a report on Monday, January 13th. Royal Bank of Canada reduced their target price on IDEX from $256.00 to $245.00 and set an "outperform" rating for the company in a research note on Thursday. Finally, Stifel Nicolaus boosted their price target on shares of IDEX from $244.00 to $256.00 and gave the stock a "buy" rating in a report on Wednesday, December 11th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $241.00.
Read Our Latest Analysis on IEX
IDEX Price Performance
Shares of IEX traded down $3.67 during trading hours on Friday, hitting $195.65. 856,052 shares of the stock were exchanged, compared to its average volume of 522,338. The stock's 50-day moving average price is $216.28 and its two-hundred day moving average price is $211.85. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.11 and a current ratio of 2.97. The company has a market cap of $14.82 billion, a price-to-earnings ratio of 30.29, a price-to-earnings-growth ratio of 2.21 and a beta of 0.97. IDEX Co. has a 12-month low of $189.51 and a 12-month high of $246.36.
IDEX (NYSE:IEX - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $2.04 EPS for the quarter, topping analysts' consensus estimates of $2.03 by $0.01. IDEX had a return on equity of 15.92% and a net margin of 15.35%. Research analysts expect that IDEX Co. will post 7.88 earnings per share for the current year.
IDEX Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 17th were issued a dividend of $0.69 per share. The ex-dividend date of this dividend was Friday, January 17th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.41%. IDEX's dividend payout ratio is currently 41.50%.
About IDEX
(
Free Report)
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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