Suntrust Banks Inc. lessened its position in shares of IDEX Co. (NYSE:IEX) by 4.1% in the fourth quarter, HoldingsChannel reports. The firm owned 20,231 shares of the industrial products company’s stock after selling 856 shares during the period. Suntrust Banks Inc.’s holdings in IDEX were worth $2,669,000 as of its most recent SEC filing.
A number of other hedge funds have also recently added to or reduced their stakes in the business. American International Group Inc. increased its holdings in IDEX by 1.2% during the 4th quarter. American International Group Inc. now owns 158,278 shares of the industrial products company’s stock worth $20,888,000 after purchasing an additional 1,927 shares in the last quarter. Virtu Financial LLC boosted its stake in shares of IDEX by 34.6% during the 4th quarter. Virtu Financial LLC now owns 7,781 shares of the industrial products company’s stock worth $1,027,000 after buying an additional 1,999 shares during the last quarter. UBS Asset Management Americas Inc. boosted its stake in shares of IDEX by 8.0% during the 4th quarter. UBS Asset Management Americas Inc. now owns 217,300 shares of the industrial products company’s stock worth $28,677,000 after buying an additional 16,025 shares during the last quarter. BlackRock Inc. boosted its stake in shares of IDEX by 4.7% during the 4th quarter. BlackRock Inc. now owns 7,338,809 shares of the industrial products company’s stock worth $968,504,000 after buying an additional 331,466 shares during the last quarter. Finally, Arizona State Retirement System boosted its stake in shares of IDEX by 26.9% during the 4th quarter. Arizona State Retirement System now owns 54,992 shares of the industrial products company’s stock worth $7,257,000 after buying an additional 11,669 shares during the last quarter. Hedge funds and other institutional investors own 97.29% of the company’s stock.
A number of equities analysts have recently commented on the stock. Wells Fargo & Co restated a “positive” rating and set a $165.00 price objective (up from $155.00) on shares of IDEX in a research note on Wednesday, January 31st. BMO Capital Markets increased their price objective on shares of IDEX to $143.00 and gave the stock a “market perform” rating in a research note on Wednesday, January 31st. They noted that the move was a valuation call. SunTrust Banks increased their price objective on shares of IDEX to $145.00 in a research note on Thursday, February 1st. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of IDEX from a “hold” rating to a “buy” rating and set a $162.00 price objective for the company in a research note on Friday, February 2nd. Finally, Cowen restated a “hold” rating and set a $120.00 price objective on shares of IDEX in a research note on Sunday, January 28th. Eleven research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. IDEX has an average rating of “Hold” and an average price target of $133.40.
IDEX (NYSE:IEX) last issued its earnings results on Monday, January 29th. The industrial products company reported $1.12 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.07 by $0.05. IDEX had a net margin of 14.74% and a return on equity of 18.88%. The business had revenue of $585.90 million during the quarter, compared to the consensus estimate of $573.47 million. During the same period last year, the business posted $0.96 EPS. IDEX’s revenue was up 10.5% on a year-over-year basis. equities analysts predict that IDEX Co. will post 5.07 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, January 30th. Investors of record on Monday, January 15th were paid a $0.37 dividend. The ex-dividend date of this dividend was Thursday, January 11th. This represents a $1.48 annualized dividend and a yield of 1.08%. IDEX’s dividend payout ratio (DPR) is currently 33.95%.
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IDEX Corporation (IDEX) operates an applied solutions business that sells pumps, flow meters and other fluidics systems, and components and engineered products. The Company operates through three segments: Fluid & Metering Technologies (FMT), Health & Science Technologies (HST) and Fire & Safety/Diversified Products (FSDP).
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