Principal Financial Group Inc. lifted its position in shares of IDEX Co. (NYSE:IEX - Free Report) by 3.0% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 95,836 shares of the industrial products company's stock after buying an additional 2,820 shares during the period. Principal Financial Group Inc. owned approximately 0.13% of IDEX worth $20,557,000 as of its most recent SEC filing.
Several other large investors have also made changes to their positions in the company. Northstar Asset Management Inc. lifted its stake in shares of IDEX by 5.6% in the 3rd quarter. Northstar Asset Management Inc. now owns 39,698 shares of the industrial products company's stock valued at $8,515,000 after purchasing an additional 2,096 shares in the last quarter. Catalyst Capital Advisors LLC increased its holdings in IDEX by 73.8% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 139 shares of the industrial products company's stock valued at $30,000 after purchasing an additional 59 shares in the last quarter. QRG Capital Management Inc. raised its position in IDEX by 8.4% in the third quarter. QRG Capital Management Inc. now owns 9,554 shares of the industrial products company's stock valued at $2,049,000 after purchasing an additional 737 shares during the period. Robeco Institutional Asset Management B.V. boosted its position in shares of IDEX by 0.3% in the third quarter. Robeco Institutional Asset Management B.V. now owns 35,343 shares of the industrial products company's stock worth $7,581,000 after buying an additional 95 shares during the period. Finally, Van ECK Associates Corp grew its stake in shares of IDEX by 9,424.6% in the third quarter. Van ECK Associates Corp now owns 1,032,277 shares of the industrial products company's stock valued at $211,473,000 after buying an additional 1,021,439 shares in the last quarter. 97.96% of the stock is owned by hedge funds and other institutional investors.
IDEX Stock Down 0.2 %
Shares of IEX stock traded down $0.41 during trading hours on Thursday, hitting $230.59. 349,274 shares of the company were exchanged, compared to its average volume of 472,661. 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 capitalization of $17.46 billion, a price-to-earnings ratio of 35.76, a P/E/G ratio of 2.41 and a beta of 0.96. IDEX Co. has a one year low of $189.51 and a one year high of $246.36. The business's 50-day simple moving average is $210.90 and its two-hundred day simple moving average is $207.59.
IDEX (NYSE:IEX - Get Free Report) last released 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 company 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%. IDEX's quarterly revenue was up .6% compared to the same quarter last year. During the same quarter last year, the business posted $2.12 EPS. Sell-side analysts predict that IDEX Co. will post 7.88 EPS for the current fiscal year.
IDEX Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 17th will be issued a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.20%. IDEX's dividend payout ratio (DPR) is 42.72%.
Analysts Set New Price Targets
A number of equities analysts have weighed in on IEX shares. DA Davidson decreased their price target on IDEX from $220.00 to $210.00 and set a "neutral" rating for the company in a report on Monday, August 5th. Royal Bank of Canada raised their price target on shares of IDEX from $236.00 to $248.00 and gave the company an "outperform" rating in a report on Thursday, October 31st. Robert W. Baird cut their price objective on shares of IDEX from $245.00 to $241.00 and set an "outperform" rating on the stock in a report on Thursday, October 31st. Argus downgraded IDEX from a "buy" rating to a "hold" rating in a research note on Wednesday, August 14th. Finally, Stifel Nicolaus boosted their price target on IDEX from $232.00 to $244.00 and gave the stock a "buy" rating in a research note on Wednesday, October 16th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $241.14.
Check Out Our Latest Analysis on IEX
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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