Quantinno Capital Management LP raised its holdings in shares of IDEX Co. (NYSE:IEX - Free Report) by 146.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,873 shares of the industrial products company's stock after acquiring an additional 5,277 shares during the period. Quantinno Capital Management LP's holdings in IDEX were worth $1,857,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. Banque de Luxembourg S.A. purchased a new position in IDEX in the 4th quarter worth $27,000. Quarry LP purchased a new position in shares of IDEX in the fourth quarter worth about $49,000. Jones Financial Companies Lllp lifted its stake in shares of IDEX by 35.2% in the 4th quarter. Jones Financial Companies Lllp now owns 407 shares of the industrial products company's stock valued at $85,000 after acquiring an additional 106 shares during the last quarter. Assetmark Inc. boosted its holdings in IDEX by 129.1% during the 4th quarter. Assetmark Inc. now owns 417 shares of the industrial products company's stock valued at $87,000 after acquiring an additional 235 shares during the period. Finally, Ancora Advisors LLC grew its position in IDEX by 24,700.0% during the 4th quarter. Ancora Advisors LLC now owns 496 shares of the industrial products company's stock worth $104,000 after acquiring an additional 494 shares during the last quarter. 97.96% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of analysts have recently weighed in on the company. Citigroup dropped 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. DA Davidson dropped their price target on shares of IDEX from $225.00 to $215.00 and set a "neutral" rating for the company in a research report on Wednesday, February 19th. Stifel Nicolaus boosted their price objective on shares of IDEX from $192.00 to $208.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. Royal Bank of Canada increased their target price on shares of IDEX from $206.00 to $208.00 and gave the stock an "outperform" rating in a report on Friday, May 2nd. Finally, Mizuho set a $185.00 price target on IDEX in a report on Friday, May 16th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $212.50.
Check Out Our Latest Research Report on IEX
IDEX Trading Up 1.2%
Shares of NYSE IEX traded up $2.21 during midday trading on Tuesday, hitting $181.81. 63,490 shares of the company traded hands, compared to its average volume of 582,120. IDEX Co. has a 12-month low of $153.36 and a 12-month high of $238.22. The firm has a market cap of $13.73 billion, a P/E ratio of 27.33, a P/E/G ratio of 1.98 and a beta of 1.07. The stock has a 50-day moving average price of $176.77 and a 200 day moving average price of $198.79. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.85 and a current ratio of 2.53.
IDEX (NYSE:IEX - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The industrial products company reported $1.75 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.64 by $0.11. The company had revenue of $814.30 million for the quarter, compared to analysts' expectations of $807.25 million. IDEX had a net margin of 15.45% and a return on equity of 16.08%. IDEX's revenue was up 1.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.88 EPS. As a group, analysts expect that IDEX Co. will post 8.26 earnings per share for the current year.
IDEX Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Monday, May 19th will be given a dividend of $0.71 per share. The ex-dividend date is Monday, May 19th. This represents a $2.84 annualized dividend and a dividend yield of 1.56%. This is an increase from IDEX's previous quarterly dividend of $0.69. IDEX's dividend payout ratio (DPR) is 45.01%.
IDEX Company Profile
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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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