Fmr LLC boosted its holdings in IDEX Co. (NYSE:IEX) by 6.9% in the third quarter, Holdings Channel reports. The institutional investor owned 1,112,161 shares of the industrial products company’s stock after acquiring an additional 71,693 shares during the period. Fmr LLC’s holdings in IDEX were worth $167,559,000 as of its most recent filing with the SEC.
A number of other large investors have also modified their holdings of the business. SRS Capital Advisors Inc. grew its stake in shares of IDEX by 83.0% during the 2nd quarter. SRS Capital Advisors Inc. now owns 745 shares of the industrial products company’s stock valued at $101,000 after purchasing an additional 338 shares during the period. State Board of Administration of Florida Retirement System grew its stake in shares of IDEX by 0.3% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 108,678 shares of the industrial products company’s stock valued at $14,832,000 after acquiring an additional 340 shares during the period. US Bancorp DE grew its stake in shares of IDEX by 17.3% during the 2nd quarter. US Bancorp DE now owns 2,670 shares of the industrial products company’s stock valued at $364,000 after acquiring an additional 393 shares during the period. State Treasurer State of Michigan grew its stake in shares of IDEX by 1.4% during the 2nd quarter. State Treasurer State of Michigan now owns 28,300 shares of the industrial products company’s stock valued at $3,862,000 after acquiring an additional 400 shares during the period. Finally, MetLife Investment Advisors LLC grew its stake in shares of IDEX by 1.0% during the 2nd quarter. MetLife Investment Advisors LLC now owns 48,217 shares of the industrial products company’s stock valued at $6,581,000 after acquiring an additional 455 shares during the period. 94.72% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE:IEX opened at $133.64 on Friday. The company has a market cap of $10.32 billion, a P/E ratio of 31.01, a P/E/G ratio of 2.45 and a beta of 1.33. The company has a quick ratio of 2.41, a current ratio of 3.21 and a debt-to-equity ratio of 0.41. IDEX Co. has a 12-month low of $123.47 and a 12-month high of $157.84.
IDEX (NYSE:IEX) last posted its quarterly earnings results on Tuesday, October 23rd. The industrial products company reported $1.41 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.31 by $0.10. IDEX had a return on equity of 20.40% and a net margin of 16.54%. The business had revenue of $623.00 million during the quarter, compared to the consensus estimate of $613.94 million. During the same period in the prior year, the company posted $1.08 EPS. The firm’s revenue for the quarter was up 8.4% compared to the same quarter last year. On average, sell-side analysts expect that IDEX Co. will post 5.36 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 30th. Shareholders of record on Tuesday, January 15th will be paid a $0.43 dividend. The ex-dividend date is Monday, January 14th. This represents a $1.72 annualized dividend and a yield of 1.29%. IDEX’s payout ratio is 39.91%.
A number of research analysts recently issued reports on IEX shares. Zacks Investment Research upgraded IDEX from a “hold” rating to a “buy” rating and set a $170.00 price objective for the company in a research note on Monday, August 20th. Stifel Nicolaus boosted their price objective on IDEX from $149.00 to $150.00 and gave the company a “hold” rating in a research note on Monday, October 8th. Boenning Scattergood started coverage on IDEX in a research note on Thursday, October 11th. They set a “neutral” rating for the company. Janney Montgomery Scott upgraded IDEX from a “neutral” rating to a “buy” rating and set a $149.00 price objective for the company in a research note on Thursday, October 25th. Finally, Robert W. Baird cut their price objective on IDEX from $145.00 to $139.00 and set an “outperform” rating for the company in a research note on Thursday, October 25th. Eight research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. IDEX presently has a consensus rating of “Hold” and a consensus target price of $146.00.
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IDEX Corporation, through its subsidiaries, operates as an applied solutions company 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, flow meters, injectors, and other fluid-handling pump modules and systems, as well as offers flow monitoring and other services for the food, chemical, general industrial, water and wastewater, agricultural, and energy industries.
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