Swiss National Bank Has $51.33 Million Position in IDEX Co. (NYSE:IEX)

Swiss National Bank lessened its stake in shares of IDEX Co. (NYSE:IEX - Free Report) by 2.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 236,400 shares of the industrial products company's stock after selling 6,700 shares during the period. Swiss National Bank owned 0.31% of IDEX worth $51,325,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of IEX. Commonwealth Equity Services LLC increased its holdings in IDEX by 1.3% in the 3rd quarter. Commonwealth Equity Services LLC now owns 4,289 shares of the industrial products company's stock valued at $892,000 after purchasing an additional 53 shares during the last quarter. DB Fitzpatrick & Co Inc lifted its stake in IDEX by 2.1% during the 3rd quarter. DB Fitzpatrick & Co Inc now owns 2,766 shares of the industrial products company's stock worth $575,000 after acquiring an additional 56 shares in the last quarter. Jacobson & Schmitt Advisors LLC boosted its holdings in IDEX by 5.0% during the 3rd quarter. Jacobson & Schmitt Advisors LLC now owns 1,242 shares of the industrial products company's stock valued at $258,000 after acquiring an additional 59 shares during the period. Guinness Asset Management LTD grew its position in IDEX by 2.8% in the 3rd quarter. Guinness Asset Management LTD now owns 2,360 shares of the industrial products company's stock valued at $491,000 after acquiring an additional 65 shares in the last quarter. Finally, Desjardins Global Asset Management Inc. lifted its position in shares of IDEX by 25.6% during the fourth quarter. Desjardins Global Asset Management Inc. now owns 388 shares of the industrial products company's stock worth $84,000 after purchasing an additional 79 shares in the last quarter. Institutional investors and hedge funds own 97.96% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on IEX shares. StockNews.com cut shares of IDEX from a "buy" rating to a "hold" rating in a report on Thursday, May 2nd. Royal Bank of Canada reaffirmed an "outperform" rating and set a $255.00 price objective on shares of IDEX in a research report on Thursday, March 21st. Oppenheimer lifted their target price on IDEX from $245.00 to $252.00 and gave the company an "outperform" rating in a report on Thursday, April 18th. Stifel Nicolaus raised IDEX from a "hold" rating to a "buy" rating and increased their price target for the company from $215.00 to $265.00 in a research report on Thursday, February 8th. Finally, Robert W. Baird decreased their price objective on IDEX from $260.00 to $256.00 and set an "outperform" rating for the company in a research note on Thursday, April 25th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, IDEX presently has an average rating of "Moderate Buy" and an average target price of $250.71.

IDEX Stock Down 0.2 %

IEX traded down $0.43 on Tuesday, reaching $221.72. The company's stock had a trading volume of 454,052 shares, compared to its average volume of 381,236. The company has a market capitalization of $16.78 billion, a price-to-earnings ratio of 29.23, a P/E/G ratio of 2.21 and a beta of 0.99. IDEX Co. has a fifty-two week low of $183.76 and a fifty-two week high of $246.36. The company has a quick ratio of 2.45, a current ratio of 3.37 and a debt-to-equity ratio of 0.37. The stock has a 50 day moving average of $234.94 and a two-hundred day moving average of $217.68.

IDEX (NYSE:IEX - Get Free Report) last issued its quarterly earnings results on Tuesday, April 23rd. The industrial products company reported $1.88 earnings per share for the quarter, topping analysts' consensus estimates of $1.76 by $0.12. The firm had revenue of $801.00 million during the quarter, compared to analysts' expectations of $807.52 million. IDEX had a net margin of 17.89% and a return on equity of 17.60%. IDEX's quarterly revenue was down 5.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.09 EPS. As a group, analysts forecast that IDEX Co. will post 8.33 EPS for the current fiscal year.

IDEX Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be issued a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a yield of 1.24%. This is an increase from IDEX's previous quarterly dividend of $0.64. IDEX's payout ratio is currently 33.68%.

About IDEX

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.