DekaBank Deutsche Girozentrale lessened its holdings in shares of IDEX Corporation (NYSE:IEX - Free Report) by 8.7% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 103,147 shares of the industrial products company's stock after selling 9,810 shares during the period. DekaBank Deutsche Girozentrale owned 0.14% of IDEX worth $18,379,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of IEX. Wellington Management Group LLP lifted its position in IDEX by 49.1% in the 4th quarter. Wellington Management Group LLP now owns 4,219,596 shares of the industrial products company's stock worth $883,119,000 after buying an additional 1,388,667 shares in the last quarter. Norges Bank acquired a new stake in IDEX in the 4th quarter worth $217,658,000. Price T Rowe Associates Inc. MD boosted its position in shares of IDEX by 8.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,666,777 shares of the industrial products company's stock valued at $767,421,000 after acquiring an additional 277,964 shares in the last quarter. Impax Asset Management Group plc boosted its position in IDEX by 11.5% in the first quarter. Impax Asset Management Group plc now owns 2,006,724 shares of the industrial products company's stock valued at $363,157,000 after buying an additional 207,172 shares in the last quarter. Finally, Corient Private Wealth LLC raised its stake in shares of IDEX by 237.1% in the fourth quarter. Corient Private Wealth LLC now owns 256,769 shares of the industrial products company's stock worth $53,740,000 after acquiring an additional 180,601 shares during the last quarter. 97.96% of the stock is owned by institutional investors and hedge funds.
Insider Activity
In other IDEX news, CFO Akhil Mahendra sold 250 shares of the company's stock in a transaction that occurred on Thursday, June 5th. The stock was 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 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 document filed with the SEC, which is available through the SEC website. Company insiders own 0.50% of the company's stock.
IDEX Stock Down 2.1%
Shares of IEX traded down $3.82 during trading hours on Friday, hitting $181.61. The company had a trading volume of 646,834 shares, compared to its average volume of 604,776. The firm has a fifty day moving average price of $181.41 and a 200-day moving average price of $188.02. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.99 and a current ratio of 2.79. The stock has a market capitalization of $13.72 billion, a price-to-earnings ratio of 28.78, a P/E/G ratio of 1.84 and a beta of 1.04. IDEX Corporation has a 52-week low of $153.36 and a 52-week high of $238.22.
IDEX (NYSE:IEX - Get Free Report) last issued its earnings results on Thursday, May 1st. The industrial products company reported $1.75 earnings per share for the quarter, topping analysts' consensus estimates of $1.64 by $0.11. The business had revenue of $814.30 million during the quarter, compared to analyst estimates of $807.25 million. IDEX had a return on equity of 15.51% and a net margin of 14.60%. IDEX's revenue was up 1.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.88 EPS. On average, equities research analysts forecast that IDEX Corporation will post 8.26 EPS for the current fiscal year.
IDEX Dividend Announcement
The business also recently disclosed 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 dividend yield of 1.56%. IDEX's dividend payout ratio (DPR) is presently 45.01%.
Analysts Set New Price Targets
IEX has been the subject of several recent analyst reports. Royal Bank Of Canada upped their target price on shares of IDEX from $206.00 to $208.00 and gave the company an "outperform" rating in a research note on Friday, May 2nd. Stifel Nicolaus raised their price target on shares of IDEX from $192.00 to $208.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. Citigroup lowered their price objective on shares of IDEX from $264.00 to $201.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Mizuho set a $185.00 target price on shares of IDEX in a report on Friday, May 16th. Finally, Robert W. Baird set a $215.00 price objective on shares of IDEX in a research note on Friday, May 2nd. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $212.50.
Check Out Our Latest Analysis on IEX
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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