UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Boosts Stock Position in IDEX Co. (NYSE:IEX)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of IDEX Co. (NYSE:IEX - Free Report) by 15.8% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 747,554 shares of the industrial products company's stock after buying an additional 102,129 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.99% of IDEX worth $156,456,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Wellington Management Group LLP lifted its position in shares of IDEX by 49.1% during 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 purchasing an additional 1,388,667 shares during the last quarter. Norges Bank purchased a new stake in shares of IDEX during the fourth quarter worth about $217,658,000. Price T Rowe Associates Inc. MD grew its stake in shares of IDEX by 8.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,666,777 shares of the industrial products company's stock worth $767,421,000 after acquiring an additional 277,964 shares during the last quarter. Allianz Asset Management GmbH grew its stake in shares of IDEX by 133.2% during the fourth quarter. Allianz Asset Management GmbH now owns 406,637 shares of the industrial products company's stock worth $85,105,000 after acquiring an additional 232,255 shares during the last quarter. Finally, Corient Private Wealth LLC grew its stake in shares of IDEX by 237.1% during the fourth quarter. Corient Private Wealth LLC now owns 256,769 shares of the industrial products company's stock worth $53,740,000 after acquiring an additional 180,601 shares during the last quarter. 97.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently weighed in on IEX. Mizuho set a $185.00 price target on IDEX in a research note on Friday, May 16th. Stifel Nicolaus upped their target price on IDEX from $192.00 to $208.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. Robert W. Baird set a $215.00 target price on IDEX in a research report on Friday, May 2nd. DA Davidson dropped their target price on IDEX from $225.00 to $215.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 19th. Finally, Royal Bank of Canada upped their target price on IDEX from $206.00 to $208.00 and gave the company an "outperform" rating in a research report on Friday, May 2nd. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $212.50.

IDEX Price Performance

IDEX stock opened at $181.20 on Friday. IDEX Co. has a 12-month low of $153.36 and a 12-month high of $238.22. The stock has a market cap of $13.69 billion, a P/E ratio of 27.25, a PEG ratio of 1.98 and a beta of 1.07. The company has a 50-day moving average price of $176.97 and a 200 day moving average price of $199.90. The company has a current ratio of 2.53, a quick ratio of 1.85 and a debt-to-equity ratio of 0.49.

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 for the quarter, beating analysts' consensus estimates of $1.64 by $0.11. The business had revenue of $814.30 million during 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%. The business's revenue for the quarter was up 1.7% on a year-over-year basis. During the same period last year, the business earned $1.88 earnings per share. Sell-side analysts anticipate that IDEX Co. will post 8.26 earnings per share for the current year.

IDEX Increases Dividend

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

IDEX Company 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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