Charles Schwab Investment Management Inc. Has $117.36 Million Stock Position in IDEX Corporation (NYSE:IEX)

Key Points

• Charles Schwab Investment Management Inc. increased its stake in IDEX Corporation by 1.3% in Q1, owning 648,477 shares valued at approximately $117.36 million.
• IDEX reported Q2 earnings of $2.07 EPS, exceeding analysts' estimates, with revenues of $865.4 million, up 7.2% year-over-year.
• The company has declared a quarterly dividend of $0.71 per share, reflecting an annualized dividend yield of 1.8% and a payout ratio of 45.88%.

Charles Schwab Investment Management Inc. raised its stake in IDEX Corporation (NYSE:IEX - Free Report) by 1.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 648,477 shares of the industrial products company's stock after purchasing an additional 8,294 shares during the period. Charles Schwab Investment Management Inc. owned about 0.86% of IDEX worth $117,355,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in the business. MassMutual Private Wealth & Trust FSB boosted its position in IDEX by 81.0% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 143 shares of the industrial products company's stock worth $26,000 after purchasing an additional 64 shares in the last quarter. Banque de Luxembourg S.A. acquired a new stake in IDEX during the fourth quarter worth about $27,000. UMB Bank n.a. grew its stake in shares of IDEX by 63.5% in the first quarter. UMB Bank n.a. now owns 224 shares of the industrial products company's stock valued at $41,000 after buying an additional 87 shares in the last quarter. Quarry LP acquired a new stake in shares of IDEX in the fourth quarter valued at about $49,000. Finally, Federated Hermes Inc. boosted its holdings in IDEX by 42.9% in the first quarter. Federated Hermes Inc. now owns 333 shares of the industrial products company's stock valued at $60,000 after purchasing an additional 100 shares during the last quarter. Institutional investors and hedge funds own 97.96% of the company's stock.

Insider Activity at IDEX

In other news, CFO Akhil Mahendra sold 250 shares of the stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $180.89, for a total transaction of $45,222.50. Following the completion of the transaction, the chief financial officer directly owned 5,035 shares in the company, valued at $910,781.15. This represents a 4.73% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.50% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts recently issued reports on IEX shares. Royal Bank Of Canada cut their price target on IDEX from $207.00 to $200.00 and set an "outperform" rating on the stock in a report on Thursday, July 31st. Citigroup raised their target price on IDEX from $208.00 to $216.00 and gave the stock a "buy" rating in a research report on Monday, July 14th. Mizuho set a $185.00 target price on IDEX in a report on Friday, May 16th. DA Davidson set a $180.00 price objective on IDEX and gave the stock a "neutral" rating in a research note on Monday, August 4th. Finally, Oppenheimer lowered their price target on IDEX from $224.00 to $212.00 and set an "outperform" rating on the stock in a research note on Thursday, July 31st. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $201.71.

IDEX Trading Down 1.3%

Shares of IDEX stock traded down $2.25 on Friday, hitting $164.94. 250,110 shares of the company's stock traded hands, compared to its average volume of 673,818. The firm's 50-day moving average price is $176.01 and its two-hundred day moving average price is $181.66. The stock has a market capitalization of $12.42 billion, a PE ratio of 26.63, a price-to-earnings-growth ratio of 1.79 and a beta of 1.04. IDEX Corporation has a one year low of $153.36 and a one year high of $238.22. The company has a debt-to-equity ratio of 0.46, a current ratio of 3.05 and a quick ratio of 2.13.

IDEX (NYSE:IEX - Get Free Report) last announced its earnings results on Wednesday, July 30th. The industrial products company reported $2.07 earnings per share for the quarter, topping analysts' consensus estimates of $2.00 by $0.07. The firm had revenue of $865.40 million during the quarter, compared to analyst estimates of $858.59 million. IDEX had a net margin of 14.05% and a return on equity of 15.16%. The company's revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period in the prior year, the business earned $2.06 EPS. On average, research analysts expect that IDEX Corporation will post 8.26 EPS for the current fiscal year.

IDEX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 25th. Stockholders of record on Friday, July 11th were paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date was Friday, July 11th. IDEX's dividend payout ratio is currently 45.88%.

IDEX Profile

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.