Raiffeisen Bank International AG raised its position in IDEX Corporation (NYSE:IEX - Free Report) by 7.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 54,974 shares of the industrial products company's stock after purchasing an additional 4,005 shares during the period. Raiffeisen Bank International AG owned 0.07% of IDEX worth $9,945,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors also recently modified their holdings of the company. MassMutual Private Wealth & Trust FSB lifted its position in IDEX by 81.0% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 143 shares of the industrial products company's stock valued at $26,000 after acquiring an additional 64 shares during the last quarter. Banque de Luxembourg S.A. purchased a new stake in IDEX in the 4th quarter valued at $27,000. UMB Bank n.a. raised its position in IDEX by 63.5% in the 1st quarter. UMB Bank n.a. now owns 224 shares of the industrial products company's stock valued at $41,000 after purchasing an additional 87 shares during the last quarter. Quarry LP acquired a new stake in IDEX during the 4th quarter worth $49,000. Finally, Federated Hermes Inc. grew its position in IDEX by 42.9% during the 1st quarter. Federated Hermes Inc. now owns 333 shares of the industrial products company's stock worth $60,000 after purchasing an additional 100 shares during the last quarter. 97.96% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
IEX has been the topic of several recent research reports. Robert W. Baird set a $215.00 price target on IDEX in a research report on Friday, May 2nd. Mizuho set a $185.00 price objective on IDEX in a research report on Friday, May 16th. Citigroup lifted their target price on IDEX from $208.00 to $216.00 and gave the company a "buy" rating in a research note on Monday, July 14th. Stifel Nicolaus cut their price target on IDEX from $238.00 to $204.00 and set a "buy" rating for the company in a research note on Thursday. Finally, Royal Bank Of Canada decreased their price target on IDEX from $207.00 to $200.00 and set an "outperform" rating for the company in a report on Thursday. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $209.63.
Check Out Our Latest Analysis on IEX
Insider Buying and Selling
In other IDEX news, CFO Akhil Mahendra sold 250 shares of the stock in a transaction dated 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 directly owned 5,035 shares of the company's stock, valued at approximately $910,781.15. This trade represents a 4.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.50% of the company's stock.
IDEX Stock Performance
Shares of IEX stock opened at $159.03 on Monday. The company has a current ratio of 3.05, a quick ratio of 2.13 and a debt-to-equity ratio of 0.46. The stock has a 50 day simple moving average of $179.49 and a 200-day simple moving average of $184.77. The company has a market cap of $11.97 billion, a price-to-earnings ratio of 25.69, a price-to-earnings-growth ratio of 1.68 and a beta of 1.04. IDEX Corporation has a 12-month low of $153.36 and a 12-month high of $238.22.
IDEX (NYSE:IEX - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The industrial products company reported $2.07 earnings per share for the quarter, topping analysts' consensus estimates of $2.00 by $0.07. IDEX had a return on equity of 15.16% and a net margin of 14.05%. The firm had revenue of $865.40 million for the quarter, compared to analyst estimates of $858.59 million. During the same quarter in the prior year, the company posted $2.06 earnings per share. IDEX's quarterly revenue was up 7.2% on a year-over-year basis. On average, equities analysts forecast that IDEX Corporation will post 8.26 EPS for the current year.
IDEX Announces Dividend
The business also recently disclosed 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. The ex-dividend date of this dividend was Friday, July 11th. This represents a $2.84 dividend on an annualized basis and a yield of 1.8%. IDEX's payout ratio is currently 45.88%.
IDEX 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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