IDEX Corporation (NYSE:IEX) Stock Holdings Lowered by CCLA Investment Management

Key Points

• CCLA Investment Management has reduced its holdings in IDEX Corporation by 19.2%, selling 91,546 shares and now owning approximately 0.51% of the company valued at $69.7 million.
• IDEX reported an earnings per share (EPS) of $2.07 for the last quarter, exceeding analyst estimates, with revenues also up 7.2% year-over-year.
• The company declared a quarterly dividend of $0.71, resulting in an annualized dividend of $2.84 and a yield of 1.8%.

CCLA Investment Management trimmed its holdings in shares of IDEX Corporation (NYSE:IEX - Free Report) by 19.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 385,624 shares of the industrial products company's stock after selling 91,546 shares during the period. CCLA Investment Management owned approximately 0.51% of IDEX worth $69,716,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of IEX. American Century Companies Inc. lifted its holdings in shares of IDEX by 3.4% in the fourth quarter. American Century Companies Inc. now owns 9,655 shares of the industrial products company's stock valued at $2,021,000 after buying an additional 314 shares during the period. LPL Financial LLC grew its stake in shares of IDEX by 13.6% in the 4th quarter. LPL Financial LLC now owns 19,702 shares of the industrial products company's stock worth $4,123,000 after purchasing an additional 2,363 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in shares of IDEX in the 4th quarter worth approximately $448,000. O Shaughnessy Asset Management LLC lifted its stake in IDEX by 4.2% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 3,128 shares of the industrial products company's stock valued at $655,000 after purchasing an additional 127 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in IDEX by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 1,912,933 shares of the industrial products company's stock worth $399,350,000 after buying an additional 21,758 shares in the last quarter. Institutional investors own 97.96% of the company's stock.

IDEX Price Performance

Shares of NYSE IEX opened at $159.03 on Friday. The company has a fifty day moving average price of $179.49 and a 200 day moving average price of $185.00. The company has a current ratio of 3.05, a quick ratio of 1.99 and a debt-to-equity ratio of 0.46. The firm has a market cap of $11.97 billion, a PE ratio of 25.69, a PEG ratio of 1.68 and a beta of 1.04. IDEX Corporation has a 1-year low of $153.36 and a 1-year high of $238.22.

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

IDEX Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 25th. Shareholders of record on Friday, July 11th were given a $0.71 dividend. The ex-dividend date of this dividend was Friday, July 11th. This represents a $2.84 annualized dividend and a yield of 1.8%. IDEX's payout ratio is currently 45.88%.

Insider Buying and Selling

In other news, CFO Akhil Mahendra sold 250 shares of the firm's stock in a transaction 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 of the company's stock, valued at $910,781.15. This trade represents a 4.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.50% of the company's stock.

Analyst Ratings Changes

IEX has been the topic of a number of analyst reports. Oppenheimer dropped 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. Royal Bank Of Canada dropped their target price on shares of IDEX from $207.00 to $200.00 and set an "outperform" rating on the stock in a research report on Thursday. Stifel Nicolaus reduced their price target on shares of IDEX from $238.00 to $204.00 and set a "buy" rating for the company in a research report on Thursday. Mizuho set a $185.00 price objective on shares of IDEX in a research report on Friday, May 16th. Finally, Citigroup increased their target price on IDEX from $208.00 to $216.00 and gave the company a "buy" rating in a report on Monday, July 14th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, IDEX has a consensus rating of "Moderate Buy" and an average price target of $209.63.

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.

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