Texas Bank & Trust Co Invests $283,000 in IDEX Co. (NYSE:IEX)

Texas Bank & Trust Co acquired a new position in shares of IDEX Co. (NYSE:IEX - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 1,350 shares of the industrial products company's stock, valued at approximately $283,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in IEX. Wellington Management Group LLP raised its stake in IDEX by 49.1% in the fourth quarter. Wellington Management Group LLP now owns 4,219,596 shares of the industrial products company's stock worth $883,119,000 after buying an additional 1,388,667 shares in the last quarter. Norges Bank purchased a new stake in IDEX during the 4th quarter worth approximately $217,658,000. Price T Rowe Associates Inc. MD increased its position in shares of IDEX by 8.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,666,777 shares of the industrial products company's stock valued at $767,421,000 after acquiring an additional 277,964 shares during the period. Allianz Asset Management GmbH increased its holdings in shares of IDEX by 133.2% in the fourth quarter. Allianz Asset Management GmbH now owns 406,637 shares of the industrial products company's stock valued at $85,105,000 after purchasing an additional 232,255 shares during the period. Finally, Corient Private Wealth LLC raised its position in IDEX by 237.1% during the 4th quarter. Corient Private Wealth LLC now owns 256,769 shares of the industrial products company's stock worth $53,740,000 after buying an additional 180,601 shares during the last quarter. 97.96% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on IEX. DA Davidson lowered their target price on IDEX from $225.00 to $215.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 19th. Robert W. Baird set a $215.00 price target on shares of IDEX in a research report on Friday, May 2nd. Citigroup lowered their target price on shares of IDEX from $264.00 to $201.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Royal Bank of Canada upped their price target on IDEX from $206.00 to $208.00 and gave the company an "outperform" rating in a research report on Friday, May 2nd. Finally, Mizuho set a $185.00 target price on shares of IDEX in a research note on Friday, May 16th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $212.50.

IDEX Trading Up 0.0%

Shares of IEX stock traded up $0.04 on Thursday, hitting $181.20. The stock had a trading volume of 468,920 shares, compared to its average volume of 584,172. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.53 and a quick ratio of 1.85. The firm has a market capitalization of $13.69 billion, a P/E ratio of 27.25, a P/E/G ratio of 1.98 and a beta of 1.07. The company's 50 day moving average price is $177.05 and its 200-day moving average price is $200.16. IDEX Co. has a 1 year low of $153.36 and a 1 year high of $238.22.

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 (EPS) for the quarter, beating the consensus estimate of $1.64 by $0.11. The business had revenue of $814.30 million for 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 revenue for the quarter was up 1.7% compared to the same quarter last year. During the same period last year, the firm earned $1.88 earnings per share. Analysts anticipate that IDEX Co. will post 8.26 earnings per share for the current year.

IDEX Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Monday, May 19th will be paid a dividend of $0.71 per share. The ex-dividend date is Monday, May 19th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.57%. This is an increase from IDEX's previous quarterly dividend of $0.69. IDEX's payout ratio is presently 45.01%.

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.