Deutsche Bank AG Purchases 7,144 Shares of IDEX Corporation (NYSE:IEX)

Key Points

• Deutsche Bank AG increased its stake in IDEX Corporation by 1.5%, acquiring an additional 7,144 shares during the first quarter, bringing its total holdings to approximately 470,495 shares worth $85.14 million.
• IDEX Corporation reported $865.40 million in revenue for the last quarter, exceeding analyst estimates and reflecting a 7.2% year-over-year increase.
• The company declared a quarterly dividend of $0.71 per share, with a dividend yield of 1.8% and a payout ratio of 45.88%.

Deutsche Bank AG boosted its stake in shares of IDEX Corporation (NYSE:IEX - Free Report) by 1.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 470,495 shares of the industrial products company's stock after acquiring an additional 7,144 shares during the quarter. Deutsche Bank AG owned approximately 0.62% of IDEX worth $85,145,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in IEX. Price T Rowe Associates Inc. MD grew its holdings in 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 worth $767,421,000 after acquiring an additional 277,964 shares during the last quarter. Flossbach Von Storch SE acquired a new position in IDEX during the 1st quarter valued at about $49,815,000. Impax Asset Management Group plc lifted its position in IDEX by 11.5% during the 1st 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 purchasing an additional 207,172 shares during the period. Raymond James Financial Inc. acquired a new position in IDEX during the 4th quarter valued at about $35,375,000. Finally, GAMMA Investing LLC lifted its position in IDEX by 26,868.7% during the 1st quarter. GAMMA Investing LLC now owns 165,588 shares of the industrial products company's stock valued at $299,660,000 after purchasing an additional 164,974 shares during the period. Institutional investors own 97.96% of the company's stock.

Insiders Place Their Bets

In related news, CFO Akhil Mahendra sold 250 shares of the business's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $180.89, for a total transaction of $45,222.50. Following the transaction, the chief financial officer directly owned 5,035 shares in the company, valued at approximately $910,781.15. The trade was a 4.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.50% of the company's stock.

IDEX Stock Down 1.4%

Shares of NYSE IEX traded down $2.32 during midday trading on Friday, reaching $164.87. The company's stock had a trading volume of 110,437 shares, compared to its average volume of 672,928. 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 Corporation has a fifty-two week low of $153.36 and a fifty-two week high of $238.22. The stock has a market capitalization of $12.41 billion, a price-to-earnings ratio of 26.63, a PEG ratio of 1.79 and a beta of 1.04. The stock has a 50 day simple moving average of $176.01 and a 200-day simple moving average of $181.66.

IDEX (NYSE:IEX - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The industrial products company reported $2.07 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.00 by $0.07. IDEX had a net margin of 14.05% and a return on equity of 15.16%. The company had revenue of $865.40 million for the quarter, compared to the consensus estimate of $858.59 million. During the same period last year, the company earned $2.06 earnings per share. The firm's revenue was up 7.2% compared to the same quarter last year. Equities research analysts predict that IDEX Corporation will post 8.26 earnings per share for the current year.

IDEX Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Robert W. Baird set a $215.00 target price on shares of IDEX in a research report on Friday, May 2nd. Royal Bank Of Canada cut their price target on shares of IDEX from $207.00 to $200.00 and set an "outperform" rating on the stock in a research report on Thursday, July 31st. Citigroup increased their price target on shares of IDEX from $208.00 to $216.00 and gave the company a "buy" rating in a research report on Monday, July 14th. DA Davidson set a $180.00 price target on shares of IDEX and gave the company a "neutral" rating in a research report on Monday, August 4th. Finally, Mizuho set a $185.00 price target on shares of IDEX in a research report on Friday, May 16th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $201.71.

IDEX Company 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.