Raymond James & Associates decreased its holdings in IDEX Co. (NYSE:IEX - Free Report) by 3.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 106,670 shares of the industrial products company's stock after selling 3,408 shares during the period. Raymond James & Associates owned approximately 0.14% of IDEX worth $22,881,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. EdgeRock Capital LLC bought a new position in IDEX in the second quarter valued at about $41,000. Whittier Trust Co. grew its holdings in shares of IDEX by 38.4% during the 2nd 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 during the last quarter. Livforsakringsbolaget Skandia Omsesidigt increased its position in IDEX by 100.0% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 200 shares of the industrial products company's stock worth $43,000 after purchasing an additional 100 shares in the last quarter. UMB Bank n.a. lifted its stake in IDEX by 31.0% in the 2nd quarter. UMB Bank n.a. now owns 241 shares of the industrial products company's stock valued at $48,000 after purchasing an additional 57 shares during the last quarter. Finally, Mascoma Wealth Management LLC acquired a new stake in IDEX in the second quarter valued at approximately $51,000. Institutional investors and hedge funds own 97.96% of the company's stock.
IDEX Trading Down 0.3 %
IEX stock traded down $0.66 during trading on Friday, hitting $202.82. The company had a trading volume of 268,778 shares, compared to its average volume of 459,826. The company has a current ratio of 3.41, a quick ratio of 2.52 and a debt-to-equity ratio of 0.36. IDEX Co. has a one year low of $183.76 and a one year high of $246.36. The business has a 50-day moving average of $205.83 and a 200-day moving average of $208.72. The stock has a market cap of $15.35 billion, a PE ratio of 26.76, a PEG ratio of 2.20 and a beta of 0.95.
IDEX (NYSE:IEX - Get Free Report) last posted its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $2.06 earnings per share for the quarter, topping the consensus estimate of $2.04 by $0.02. The company had revenue of $807.20 million during the quarter, compared to analysts' expectations of $828.15 million. IDEX had a net margin of 18.19% and a return on equity of 16.87%. IDEX's revenue for the quarter was down 4.6% compared to the same quarter last year. During the same period in the prior year, the company posted $2.18 earnings per share. Research analysts predict that IDEX Co. will post 7.88 earnings per share for the current fiscal year.
IDEX Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, October 11th will be paid a dividend of $0.69 per share. The ex-dividend date is Friday, October 11th. This represents a $2.76 annualized dividend and a yield of 1.36%. IDEX's dividend payout ratio is currently 36.32%.
Wall Street Analysts Forecast Growth
Several research analysts have recently issued reports on the stock. Argus downgraded shares of IDEX from a "buy" rating to a "hold" rating in a report on Wednesday, August 14th. Royal Bank of Canada dropped their target price on IDEX from $250.00 to $236.00 and set an "outperform" rating for the company in a research report on Friday, August 2nd. StockNews.com cut IDEX from a "buy" rating to a "hold" rating in a report on Thursday, July 11th. TD Cowen lowered their price objective on IDEX from $240.00 to $230.00 and set a "buy" rating for the company in a research note on Wednesday, August 7th. Finally, Robert W. Baird cut their target price on shares of IDEX from $256.00 to $241.00 and set an "outperform" rating on the stock in a research report on Friday, August 2nd. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat.com, IDEX presently has an average rating of "Moderate Buy" and an average price target of $239.43.
Read Our Latest Stock Report on IDEX
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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