Covea Finance Purchases 3,500 Shares of IDEX Corporation (NYSE:IEX)

Covea Finance raised its position in shares of IDEX Corporation (NYSE:IEX - Free Report) by 24.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 18,000 shares of the industrial products company's stock after buying an additional 3,500 shares during the period. Covea Finance's holdings in IDEX were worth $3,257,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Dimensional Fund Advisors LP increased its stake in shares of IDEX by 13.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 640,717 shares of the industrial products company's stock valued at $134,096,000 after buying an additional 73,540 shares during the period. Snyder Capital Management L P increased its position in IDEX by 12.2% in the fourth quarter. Snyder Capital Management L P now owns 480,193 shares of the industrial products company's stock worth $100,500,000 after purchasing an additional 52,259 shares during the period. Assetmark Inc. raised its holdings in IDEX by 129.1% during the 4th quarter. Assetmark Inc. now owns 417 shares of the industrial products company's stock worth $87,000 after purchasing an additional 235 shares during the last quarter. Proficio Capital Partners LLC acquired a new position in IDEX during the 4th quarter valued at about $10,212,000. Finally, Corient Private Wealth LLC boosted its stake in shares of IDEX by 237.1% in the 4th quarter. Corient Private Wealth LLC now owns 256,769 shares of the industrial products company's stock valued at $53,740,000 after purchasing an additional 180,601 shares during the last quarter. Institutional investors own 97.96% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on IEX shares. Robert W. Baird set a $215.00 price objective on shares of IDEX in a report on Friday, May 2nd. Stifel Nicolaus increased their price target on IDEX from $192.00 to $208.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. Citigroup decreased their price objective on IDEX from $264.00 to $201.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Royal Bank Of Canada increased their target price on IDEX from $206.00 to $208.00 and gave the company an "outperform" rating in a research note on Friday, May 2nd. Finally, Mizuho set a $185.00 target price on IDEX in a report on Friday, May 16th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $212.50.

Insiders Place Their Bets

In related news, CFO Akhil Mahendra sold 250 shares of the company's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $180.89, for a total value of $45,222.50. Following the completion of the transaction, the chief financial officer now directly owns 5,035 shares of the company's stock, valued at approximately $910,781.15. This represents a 4.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.50% of the company's stock.

IDEX Trading Down 1.0%

Shares of IEX stock traded down $1.75 on Friday, hitting $173.28. The stock had a trading volume of 2,463,247 shares, compared to its average volume of 594,044. The company has a current ratio of 2.79, a quick ratio of 1.99 and a debt-to-equity ratio of 0.47. IDEX Corporation has a twelve month low of $153.36 and a twelve month high of $238.22. The company has a fifty day moving average price of $178.57 and a two-hundred day moving average price of $192.24. The firm has a market cap of $13.09 billion, a P/E ratio of 27.46, a PEG ratio of 1.76 and a beta of 1.06.

IDEX (NYSE:IEX - Get Free Report) last posted its earnings results on Thursday, May 1st. The industrial products company reported $1.75 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.64 by $0.11. IDEX had a return on equity of 15.51% and a net margin of 14.60%. The firm had revenue of $814.30 million during the quarter, compared to analysts' expectations of $807.25 million. During the same period in the previous year, the firm earned $1.88 earnings per share. The company's revenue was up 1.7% on a year-over-year basis. As a group, analysts forecast that IDEX Corporation will post 8.26 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, July 25th. Investors of record on Friday, July 11th will be paid a dividend of $0.71 per share. The ex-dividend date is Friday, July 11th. This represents a $2.84 dividend on an annualized basis and a yield of 1.64%. IDEX's payout ratio is 45.01%.

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.