Boston Trust Walden Corp Has $66.98 Million Holdings in IDEX Corporation $IEX

Key Points

• Boston Trust Walden Corp increased its stake in IDEX Corporation by 40% to own approximately $66.98 million worth of shares, amounting to about 0.51% of the company.
• Recent analyst reports show mixed ratings for IDEX, with targets ranging from $180 to $216 and a consensus rating of "Moderate Buy".
• IDEX announced a quarterly dividend of $0.71, resulting in an annualized yield of 1.8%, alongside a new stock repurchase program allowing for up to $1 billion in shares to be repurchased.

Boston Trust Walden Corp grew its stake in IDEX Corporation (NYSE:IEX - Free Report) by 40.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 381,517 shares of the industrial products company's stock after buying an additional 109,043 shares during the period. Boston Trust Walden Corp owned approximately 0.51% of IDEX worth $66,983,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Horizon Investments LLC increased its stake in shares of IDEX by 5.2% in the first quarter. Horizon Investments LLC now owns 1,087 shares of the industrial products company's stock worth $197,000 after purchasing an additional 54 shares during the period. Empowered Funds LLC increased its stake in shares of IDEX by 3.4% in the first quarter. Empowered Funds LLC now owns 1,646 shares of the industrial products company's stock worth $298,000 after purchasing an additional 54 shares during the period. Alps Advisors Inc. increased its stake in shares of IDEX by 1.0% in the first quarter. Alps Advisors Inc. now owns 5,990 shares of the industrial products company's stock worth $1,084,000 after purchasing an additional 60 shares during the period. Oppenheimer Asset Management Inc. increased its stake in shares of IDEX by 0.7% in the first quarter. Oppenheimer Asset Management Inc. now owns 8,332 shares of the industrial products company's stock worth $1,508,000 after purchasing an additional 61 shares during the period. Finally, Blue Trust Inc. increased its stake in shares of IDEX by 21.5% in the second quarter. Blue Trust Inc. now owns 446 shares of the industrial products company's stock worth $78,000 after purchasing an additional 79 shares during the period. Institutional investors and hedge funds own 97.96% of the company's stock.

Wall Street Analyst Weigh In

IEX has been the topic of a number of recent analyst reports. Royal Bank Of Canada dropped their price objective on IDEX from $207.00 to $200.00 and set an "outperform" rating on the stock in a research note on Thursday, July 31st. Oppenheimer set a $210.00 price target on IDEX in a research note on Tuesday, October 7th. Citigroup boosted their price target on IDEX from $208.00 to $216.00 and gave the company a "buy" rating in a research note on Monday, July 14th. Stifel Nicolaus lowered their price target on IDEX from $238.00 to $204.00 and set a "buy" rating on the stock in a research note on Thursday, July 31st. Finally, DA Davidson set a $180.00 price target on IDEX and gave the company a "neutral" rating in a research note on Monday, August 4th. Five analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $201.43.

IDEX Trading Down 0.1%

IEX stock opened at $160.99 on Tuesday. IDEX Corporation has a 1-year low of $153.36 and a 1-year high of $238.22. The firm has a market cap of $12.12 billion, a P/E ratio of 26.01, a P/E/G ratio of 1.70 and a beta of 1.04. The business's 50 day moving average is $163.17 and its 200-day moving average is $172.48. The company has a current ratio of 3.05, a quick ratio of 2.13 and a debt-to-equity ratio of 0.46.

IDEX (NYSE:IEX - Get Free Report) last released its quarterly earnings data on Friday, December 16th. The industrial products company reported $1.79 earnings per share for the quarter. The company had revenue of $712.00 million for the quarter. IDEX had a return on equity of 15.16% and a net margin of 14.05%. Equities analysts anticipate that IDEX Corporation will post 8.26 earnings per share for the current fiscal year.

IDEX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 24th. Stockholders of record on Friday, October 10th will be issued a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend is Friday, October 10th. IDEX's payout ratio is presently 45.88%.

IDEX declared that its Board of Directors has approved a stock repurchase program on Thursday, September 18th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the industrial products company to repurchase up to 8.3% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's board of directors believes its shares are undervalued.

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.

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