Raymond James Trust N.A. decreased its holdings in shares of IDEX Co. (NYSE:IEX) by 23.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,151 shares of the industrial products company’s stock after selling 649 shares during the quarter. Raymond James Trust N.A.’s holdings in IDEX were worth $324,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also modified their holdings of the company. BlackRock Inc. grew its holdings in shares of IDEX by 4.5% during the second quarter. BlackRock Inc. now owns 7,916,684 shares of the industrial products company’s stock valued at $1,080,468,000 after buying an additional 339,328 shares in the last quarter. FMR LLC grew its holdings in shares of IDEX by 4.0% during the second quarter. FMR LLC now owns 1,040,468 shares of the industrial products company’s stock valued at $142,003,000 after buying an additional 40,153 shares in the last quarter. Janus Henderson Group PLC grew its holdings in shares of IDEX by 3.5% during the second quarter. Janus Henderson Group PLC now owns 822,710 shares of the industrial products company’s stock valued at $112,284,000 after buying an additional 27,452 shares in the last quarter. Bessemer Group Inc. grew its holdings in shares of IDEX by 1.1% during the second quarter. Bessemer Group Inc. now owns 738,568 shares of the industrial products company’s stock valued at $100,800,000 after buying an additional 7,987 shares in the last quarter. Finally, Fenimore Asset Management Inc. purchased a new position in IDEX in the second quarter valued at about $96,508,000. Institutional investors and hedge funds own 95.07% of the company’s stock.
IEX has been the topic of a number of recent research reports. Royal Bank of Canada restated a “hold” rating and issued a $144.00 target price on shares of IDEX in a research note on Friday, July 13th. Zacks Investment Research downgraded IDEX from a “buy” rating to a “hold” rating in a research note on Tuesday, July 31st. Boenning Scattergood initiated coverage on IDEX in a research note on Thursday, October 11th. They issued a “neutral” rating on the stock. Stifel Nicolaus boosted their target price on IDEX from $149.00 to $150.00 and gave the company a “hold” rating in a research note on Monday, October 8th. Finally, Robert W. Baird restated a “buy” rating and issued a $143.00 target price on shares of IDEX in a research note on Friday, July 20th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company’s stock. IDEX presently has a consensus rating of “Hold” and a consensus target price of $148.20.
Shares of NYSE IEX opened at $132.86 on Friday. The company has a current ratio of 3.21, a quick ratio of 2.39 and a debt-to-equity ratio of 0.43. IDEX Co. has a one year low of $124.65 and a one year high of $157.84. The stock has a market capitalization of $10.53 billion, a price-to-earnings ratio of 30.83, a PEG ratio of 2.35 and a beta of 1.20.
IDEX (NYSE:IEX) last issued its earnings results on Tuesday, July 24th. The industrial products company reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $1.31 by $0.09. IDEX had a return on equity of 19.71% and a net margin of 15.94%. The firm had revenue of $634.40 million for the quarter, compared to the consensus estimate of $623.10 million. During the same quarter in the previous year, the company posted $1.08 earnings per share. The business’s quarterly revenue was up 10.6% compared to the same quarter last year. On average, equities research analysts anticipate that IDEX Co. will post 5.32 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 31st. Stockholders of record on Tuesday, October 16th will be paid a dividend of $0.43 per share. The ex-dividend date is Monday, October 15th. This represents a $1.72 annualized dividend and a dividend yield of 1.29%. IDEX’s dividend payout ratio (DPR) is presently 39.91%.
IDEX Company Profile
IDEX Corporation, through its subsidiaries, provides various pumps, valves, flow meters, other fluidics systems and components, and engineered products worldwide. Its Fluid & Metering Technologies segment designs, produces, and distributes positive displacement pumps, flow meters, injectors, other fluid-handling pump modules and systems, and specialty valve products, as well as offers flow monitoring and other services for food, chemical, general industrial, water and wastewater, agricultural, and energy industries.
Further Reading: What is the NASDAQ?
Want to see what other hedge funds are holding IEX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for IDEX Co. (NYSE:IEX).
Receive News & Ratings for IDEX Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for IDEX and related companies with MarketBeat.com's FREE daily email newsletter.