MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of IDEX Co. (NYSE:IEX - Free Report) by 5.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 529,445 shares of the industrial products company's stock after acquiring an additional 29,085 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 0.70% of IDEX worth $110,807,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in IEX. Wellington Management Group LLP raised its position in 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 acquiring an additional 1,388,667 shares during the last quarter. Norges Bank acquired a new position in IDEX during the fourth quarter worth about $217,658,000. Price T Rowe Associates Inc. MD raised its position in 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 raised its position in 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 raised its position in 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. Hedge funds and other institutional investors own 97.96% of the company's stock.
Wall Street Analysts Forecast Growth
Several research firms have issued reports on IEX. Citigroup decreased their price target 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. Stifel Nicolaus increased their price target on IDEX from $192.00 to $208.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. Royal Bank of Canada increased their price target on IDEX from $206.00 to $208.00 and gave the stock an "outperform" rating in a research note on Friday, May 2nd. Mizuho set a $175.00 target price on shares of IDEX in a report on Tuesday, April 22nd. Finally, Robert W. Baird set a $215.00 target price on shares of IDEX in a report on Friday, May 2nd. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, IDEX presently has an average rating of "Moderate Buy" and an average price target of $211.25.
View Our Latest Stock Report on IDEX
IDEX Trading Up 0.7%
IEX traded up $1.28 during trading on Friday, hitting $190.84. 421,473 shares of the company's stock were exchanged, compared to its average volume of 580,246. 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 Co. has a 1 year low of $153.36 and a 1 year high of $238.22. The stock has a 50 day moving average price of $176.61 and a 200 day moving average price of $200.87. The firm has a market cap of $14.42 billion, a P/E ratio of 28.70, a price-to-earnings-growth ratio of 1.98 and a beta of 1.07.
IDEX (NYSE:IEX - Get Free Report) last posted its earnings results on Thursday, May 1st. The industrial products company reported $1.75 EPS for the quarter, topping analysts' consensus estimates of $1.64 by $0.11. IDEX had a net margin of 15.45% and a return on equity of 16.08%. The business had revenue of $814.30 million for the quarter, compared to analysts' expectations of $807.25 million. During the same period in the previous year, the company posted $1.88 earnings per share. The business's revenue for the quarter was up 1.7% compared to the same quarter last year. As a group, analysts expect that IDEX Co. will post 8.26 EPS for the current fiscal year.
IDEX Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Monday, May 19th will be issued a $0.71 dividend. The ex-dividend date of this dividend is Monday, May 19th. This is a boost from IDEX's previous quarterly dividend of $0.69. This represents a $2.84 annualized dividend and a yield of 1.49%. IDEX's dividend 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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