Raiffeisen Bank International AG Takes $10.64 Million Position in IDEX Co. (NYSE:IEX)

Raiffeisen Bank International AG bought 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 and Exchange Commission (SEC). The fund bought 50,969 shares of the industrial products company's stock, valued at approximately $10,644,000. Raiffeisen Bank International AG owned 0.07% of IDEX at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in IDEX by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 9,306,008 shares of the industrial products company's stock worth $1,947,654,000 after purchasing an additional 63,432 shares during the period. Wellington Management Group LLP raised its stake 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 purchasing an additional 1,388,667 shares during the period. Price T Rowe Associates Inc. MD raised its stake 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 purchasing an additional 277,964 shares during the period. Geode Capital Management LLC raised its stake in IDEX by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 1,912,933 shares of the industrial products company's stock worth $399,350,000 after purchasing an additional 21,758 shares during the period. Finally, T. Rowe Price Investment Management Inc. raised its stake in IDEX by 0.9% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,868,919 shares of the industrial products company's stock worth $391,147,000 after purchasing an additional 17,087 shares during the period. 97.96% of the stock is owned by hedge funds and other institutional investors.

IDEX Stock Up 0.7%

IEX traded up $1.28 during trading hours on Friday, hitting $190.84. 421,473 shares of the company's stock were exchanged, compared to its average volume of 581,710. IDEX Co. has a 12-month low of $153.36 and a 12-month high of $238.22. The firm has a 50 day moving average of $176.72 and a 200 day moving average of $200.56. 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. 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 earnings results on Thursday, May 1st. The industrial products company reported $1.75 earnings per share for the quarter, topping the consensus estimate of $1.64 by $0.11. IDEX had a net margin of 15.45% and a return on equity of 16.08%. The firm had revenue of $814.30 million for the quarter, compared to the consensus estimate of $807.25 million. During the same period in the prior year, the firm earned $1.88 EPS. The firm's revenue for the quarter was up 1.7% on a year-over-year basis. Analysts predict that IDEX Co. will post 8.26 EPS for the current fiscal year.

IDEX Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Monday, May 19th will be issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 1.49%. The ex-dividend date of this dividend is Monday, May 19th. This is a boost from IDEX's previous quarterly dividend of $0.69. IDEX's payout ratio is 45.01%.

Analyst Ratings Changes

A number of brokerages have commented on IEX. Mizuho set a $175.00 target price on shares of IDEX in a research note on Tuesday, April 22nd. Stifel Nicolaus boosted their price target on shares of IDEX from $192.00 to $208.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. DA Davidson reduced their price target on shares of 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 note on Friday, May 2nd. Finally, Citigroup reduced 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. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $211.25.

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.