Principal Financial Group Inc. boosted its position in shares of IDEX Co. (NYSE:IEX - Free Report) by 3.0% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 95,836 shares of the industrial products company's stock after purchasing an additional 2,820 shares during the quarter. Principal Financial Group Inc. owned about 0.13% of IDEX worth $20,557,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also bought and sold shares of the company. Raymond James Trust N.A. grew its holdings in IDEX by 5.2% during the 2nd quarter. Raymond James Trust N.A. now owns 1,594 shares of the industrial products company's stock worth $321,000 after acquiring an additional 79 shares in the last quarter. Whittier Trust Co. boosted its position in IDEX by 38.4% during the second quarter. Whittier Trust Co. now owns 209 shares of the industrial products company's stock valued at $42,000 after purchasing an additional 58 shares in the last quarter. Panagora Asset Management Inc. grew its stake in IDEX by 4.9% in the second quarter. Panagora Asset Management Inc. now owns 18,760 shares of the industrial products company's stock valued at $3,775,000 after purchasing an additional 868 shares during the last quarter. UMB Bank n.a. raised its holdings in IDEX by 31.0% in the second quarter. UMB Bank n.a. now owns 241 shares of the industrial products company's stock worth $48,000 after purchasing an additional 57 shares in the last quarter. Finally, iA Global Asset Management Inc. purchased a new stake in shares of IDEX during the second quarter valued at about $1,319,000. 97.96% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
A number of research analysts have recently issued reports on IEX shares. Citigroup lifted their price objective on shares of IDEX from $251.00 to $269.00 and gave the stock a "buy" rating in a research report on Monday, December 9th. Robert W. Baird reduced their price target on IDEX from $245.00 to $241.00 and set an "outperform" rating on the stock in a research report on Thursday, October 31st. Royal Bank of Canada raised their price objective on IDEX from $248.00 to $258.00 and gave the stock an "outperform" rating in a research report on Friday, December 6th. Finally, Stifel Nicolaus upped their target price on IDEX from $244.00 to $256.00 and gave the company a "buy" rating in a research report on Wednesday, December 11th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, IDEX currently has an average rating of "Moderate Buy" and a consensus price target of $243.14.
View Our Latest Stock Analysis on IDEX
IDEX Stock Performance
NYSE:IEX traded up $0.70 during mid-day trading on Thursday, hitting $212.98. The company's stock had a trading volume of 401,761 shares, compared to its average volume of 489,114. The business's fifty day moving average is $221.66 and its two-hundred day moving average is $209.37. The stock has a market cap of $16.13 billion, a price-to-earnings ratio of 32.97, a PEG ratio of 2.41 and a beta of 0.96. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.97 and a quick ratio of 2.11. IDEX Co. has a 1 year low of $189.51 and a 1 year high of $246.36.
IDEX (NYSE:IEX - Get Free Report) last issued its earnings results on Tuesday, October 29th. The industrial products company reported $1.90 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 the consensus estimate of $793.05 million. IDEX had a return on equity of 15.92% and a net margin of 15.35%. The company's revenue was up .6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.12 earnings per share. Analysts anticipate that IDEX Co. will post 7.89 EPS for the current fiscal year.
IDEX Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 17th will be paid a $0.69 dividend. This represents a $2.76 annualized dividend and a dividend yield of 1.30%. The ex-dividend date is Friday, January 17th. IDEX's dividend payout ratio is currently 42.72%.
IDEX 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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