Royal Bank of Canada cut its stake in shares of IDEX Co. (NYSE:IEX - Free Report) by 7.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 130,652 shares of the industrial products company's stock after selling 10,135 shares during the quarter. Royal Bank of Canada owned approximately 0.17% of IDEX worth $27,344,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Dimensional Fund Advisors LP lifted its holdings in shares of IDEX by 13.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 640,717 shares of the industrial products company's stock valued at $134,096,000 after acquiring an additional 73,540 shares during the period. Snyder Capital Management L P lifted its holdings in shares of IDEX by 12.2% during the fourth quarter. Snyder Capital Management L P now owns 480,193 shares of the industrial products company's stock valued at $100,500,000 after acquiring an additional 52,259 shares during the period. Asset Management One Co. Ltd. lifted its holdings in shares of IDEX by 4.2% during the fourth quarter. Asset Management One Co. Ltd. now owns 30,250 shares of the industrial products company's stock valued at $6,386,000 after acquiring an additional 1,209 shares during the period. Assetmark Inc. lifted its holdings in shares of IDEX by 129.1% during the fourth 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, Barclays PLC lifted its holdings in shares of IDEX by 1.2% during the third quarter. Barclays PLC now owns 1,177,645 shares of the industrial products company's stock valued at $252,603,000 after acquiring an additional 14,360 shares during the period. 97.96% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of research analysts have issued reports on the company. Mizuho set a $185.00 price objective on IDEX in a report on Friday, May 16th. Robert W. Baird set a $215.00 price target on IDEX in a report on Friday, May 2nd. Royal Bank of Canada lifted their price target on IDEX from $206.00 to $208.00 and gave the company an "outperform" rating in a report on Friday, May 2nd. Citigroup cut their price target on IDEX from $264.00 to $201.00 and set a "buy" rating for the company in a report on Monday, April 14th. Finally, DA Davidson cut their price target on IDEX from $225.00 to $215.00 and set a "neutral" rating for the company in a report on Wednesday, February 19th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, IDEX has a consensus rating of "Moderate Buy" and an average price target of $212.50.
Read Our Latest Report on IDEX
IDEX Trading Down 0.0%
NYSE:IEX traded down $0.09 on Thursday, hitting $180.61. 90,838 shares of the stock were exchanged, compared to its average volume of 581,816. The stock has a market capitalization of $13.64 billion, a price-to-earnings ratio of 27.16, a P/E/G ratio of 1.98 and a beta of 1.07. IDEX Co. has a 52 week low of $153.36 and a 52 week high of $238.22. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.85 and a current ratio of 2.53. The company's 50-day moving average price is $176.73 and its 200 day moving average price is $198.56.
IDEX (NYSE:IEX - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The industrial products company reported $1.75 earnings per share for the quarter, topping the consensus estimate of $1.64 by $0.11. The firm had revenue of $814.30 million during the quarter, compared to analysts' expectations of $807.25 million. IDEX had a return on equity of 16.08% and a net margin of 15.45%. The company's quarterly revenue was up 1.7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.88 EPS. On average, equities research analysts forecast that IDEX Co. will post 8.26 earnings per share for the current year.
IDEX Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Monday, May 19th will be issued a dividend of $0.71 per share. This is a boost from IDEX's previous quarterly dividend of $0.69. This represents a $2.84 annualized dividend and a yield of 1.57%. The ex-dividend date is Monday, May 19th. IDEX's payout ratio is currently 45.01%.
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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