Lighthouse Investment Partners LLC purchased a new position in shares of IDEX Co. (NYSE:IEX - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 6,500 shares of the industrial products company's stock, valued at approximately $1,360,000.
A number of other large investors have also made changes to their positions in the business. Wellington Management Group LLP increased its position in shares of IDEX by 49.1% in the 4th quarter. Wellington Management Group LLP now owns 4,219,596 shares of the industrial products company's stock valued at $883,119,000 after acquiring an additional 1,388,667 shares during the period. Norges Bank acquired a new position in shares of IDEX in the 4th quarter valued at $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 position in shares of IDEX by 133.2% in the 4th quarter. Allianz Asset Management GmbH now owns 406,637 shares of the industrial products company's stock valued at $85,105,000 after acquiring an additional 232,255 shares during the period. Finally, Corient Private Wealth LLC increased its position in shares of IDEX by 237.1% in the 4th quarter. Corient Private Wealth LLC now owns 256,769 shares of the industrial products company's stock valued at $53,740,000 after acquiring an additional 180,601 shares during the period. 97.96% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several equities analysts recently issued reports on the company. 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. Mizuho set a $175.00 price target on IDEX in a research report on Tuesday, April 22nd. Robert W. Baird set a $215.00 price target on IDEX in a research report on Friday, May 2nd. Stifel Nicolaus increased their price target on IDEX from $192.00 to $208.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. Finally, DA Davidson cut their price target on IDEX from $225.00 to $215.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 19th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat.com, IDEX presently has a consensus rating of "Moderate Buy" and a consensus target price of $211.25.
View Our Latest Stock Report on IEX
IDEX Price Performance
Shares of NYSE:IEX traded up $1.28 during trading on Friday, reaching $190.84. 421,473 shares of the company's stock traded hands, compared to its average volume of 580,246. IDEX Co. has a fifty-two week low of $153.36 and a fifty-two week high of $238.22. The company has a quick ratio of 1.85, a current ratio of 2.53 and a debt-to-equity ratio of 0.49. The firm has a market cap of $14.42 billion, a PE ratio of 28.70, a P/E/G ratio of 1.98 and a beta of 1.07. The company has a 50-day simple moving average of $176.72 and a 200-day simple moving average of $200.78.
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, beating analysts' consensus estimates of $1.64 by $0.11. IDEX had a return on equity of 16.08% and a net margin of 15.45%. The firm had revenue of $814.30 million for the quarter, compared to analysts' expectations of $807.25 million. During the same period last year, the firm earned $1.88 EPS. The company's quarterly revenue was up 1.7% on a year-over-year basis. As a group, analysts predict that IDEX Co. will post 8.26 earnings per share for the current 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 paid a $0.71 dividend. The ex-dividend date of this dividend is Monday, May 19th. This is a positive change from IDEX's previous quarterly dividend of $0.69. This represents a $2.84 dividend on an annualized basis and a yield of 1.49%. IDEX's dividend payout ratio (DPR) is currently 45.01%.
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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