Geode Capital Management LLC lifted its holdings in shares of IDEX Co. (NYSE:IEX - Free Report) by 1.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,891,175 shares of the industrial products company's stock after purchasing an additional 23,388 shares during the quarter. Geode Capital Management LLC owned about 2.50% of IDEX worth $404,339,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently modified their holdings of IEX. Studio Investment Management LLC lifted its stake in IDEX by 4.9% during the 3rd quarter. Studio Investment Management LLC now owns 955 shares of the industrial products company's stock worth $205,000 after acquiring an additional 45 shares in the last quarter. UMB Bank n.a. raised its stake in IDEX by 31.0% in the second quarter. UMB Bank n.a. now owns 241 shares of the industrial products company's stock valued at $48,000 after buying an additional 57 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in IDEX by 19.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 344 shares of the industrial products company's stock worth $72,000 after buying an additional 57 shares during the last quarter. Whittier Trust Co. increased its holdings in shares of IDEX by 38.4% in the 2nd quarter. Whittier Trust Co. now owns 209 shares of the industrial products company's stock valued at $42,000 after acquiring an additional 58 shares during the last quarter. Finally, Catalyst Capital Advisors LLC raised its position in shares of IDEX by 73.8% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 139 shares of the industrial products company's stock worth $30,000 after acquiring an additional 59 shares in the last quarter. 97.96% of the stock is owned by institutional investors and hedge funds.
IDEX Stock Performance
IDEX stock traded down $1.98 during midday trading on Friday, hitting $223.00. 455,777 shares of the company's stock were exchanged, compared to its average volume of 481,796. 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 stock has a market cap of $16.89 billion, a price-to-earnings ratio of 34.52, a price-to-earnings-growth ratio of 2.41 and a beta of 0.96. IDEX Co. has a 12-month low of $189.51 and a 12-month high of $246.36. The firm's 50 day simple moving average is $220.89 and its 200 day simple moving average is $208.85.
IDEX (NYSE:IEX - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $1.90 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.89 by $0.01. The firm had revenue of $798.20 million for the quarter, compared to analyst estimates of $793.05 million. IDEX had a return on equity of 15.92% and a net margin of 15.35%. The business's revenue was up .6% on a year-over-year basis. During the same quarter last year, the company posted $2.12 earnings per share. Equities research analysts predict that IDEX Co. will post 7.89 EPS for the current year.
IDEX Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 17th will be issued a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a dividend yield of 1.24%. The ex-dividend date is Friday, January 17th. IDEX's dividend payout ratio is presently 42.72%.
Wall Street Analysts Forecast Growth
IEX has been the subject of a number of research analyst reports. Royal Bank of Canada upped their price target on IDEX from $248.00 to $258.00 and gave the company an "outperform" rating in a report on Friday, December 6th. Citigroup increased their target price on shares of IDEX from $251.00 to $269.00 and gave the company a "buy" rating in a research report on Monday, December 9th. Robert W. Baird reduced their price target on shares of IDEX from $245.00 to $241.00 and set an "outperform" rating for the company in a research report on Thursday, October 31st. Finally, Stifel Nicolaus raised their price objective on IDEX from $244.00 to $256.00 and gave the stock a "buy" rating in a report on Wednesday. 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 $243.14.
Get Our Latest Research Report on IDEX
IDEX Company Profile
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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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