US Bancorp DE Lowers Holdings in IDEX Co. (NYSE:IEX)

US Bancorp DE lessened its stake in IDEX Co. (NYSE:IEX - Free Report) by 73.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,168 shares of the industrial products company's stock after selling 27,891 shares during the period. US Bancorp DE's holdings in IDEX were worth $2,181,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. abrdn plc boosted its stake in shares of IDEX by 9.5% during the 3rd quarter. abrdn plc now owns 50,183 shares of the industrial products company's stock worth $10,691,000 after acquiring an additional 4,340 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in IDEX by 119.3% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 4,864 shares of the industrial products company's stock worth $1,043,000 after purchasing an additional 2,646 shares during the period. Forsta AP Fonden boosted its position in IDEX by 6.7% during the third quarter. Forsta AP Fonden now owns 24,000 shares of the industrial products company's stock worth $5,148,000 after purchasing an additional 1,500 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in IDEX by 19.0% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,887 shares of the industrial products company's stock valued at $1,696,000 after purchasing an additional 1,257 shares during the period. Finally, Lake Street Advisors Group LLC purchased a new stake in shares of IDEX in the third quarter valued at approximately $248,000. Institutional investors and hedge funds own 97.96% of the company's stock.

IDEX Price Performance

IEX traded down $6.00 during trading on Thursday, reaching $228.90. The company's stock had a trading volume of 597,996 shares, compared to its average volume of 472,755. The company has a market cap of $17.33 billion, a price-to-earnings ratio of 36.12, a PEG ratio of 2.32 and a beta of 0.96. The firm has a fifty day simple moving average of $208.41 and a two-hundred day simple moving average of $207.49. IDEX Co. has a 1 year low of $189.33 and a 1 year high of $246.36. The company has a quick ratio of 2.11, a current ratio of 2.97 and a debt-to-equity ratio of 0.54.

IDEX (NYSE:IEX - Get Free Report) last announced its quarterly earnings data 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 firm's revenue was up .6% compared to the same quarter last year. During the same quarter last year, the business posted $2.12 earnings per share. As a group, analysts anticipate that IDEX Co. will post 7.87 EPS for the current year.

IDEX Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Friday, October 11th were issued a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date was Friday, October 11th. IDEX's dividend payout ratio is currently 42.72%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on IEX. Royal Bank of Canada lifted their price target on shares of IDEX from $236.00 to $248.00 and gave the company an "outperform" rating in a research note on Thursday, October 31st. DA Davidson dropped their target price on shares of IDEX from $220.00 to $210.00 and set a "neutral" rating on the stock in a research report on Monday, August 5th. Stifel Nicolaus upped their price target on shares of IDEX from $232.00 to $244.00 and gave the stock a "buy" rating in a research report on Wednesday, October 16th. StockNews.com cut IDEX from a "buy" rating to a "hold" rating in a report on Thursday, July 11th. Finally, Robert W. Baird decreased their target price on IDEX from $245.00 to $241.00 and set an "outperform" rating on the stock in a research report on Thursday, October 31st. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $241.14.

About IDEX

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.