Checchi Capital Advisers LLC bought a new stake in shares of IDEX Co. (NYSE:IEX) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,319 shares of the industrial products company’s stock, valued at approximately $200,000.
Several other institutional investors also recently added to or reduced their stakes in IEX. Shell Asset Management Co. lifted its stake in IDEX by 7.5% in the 1st quarter. Shell Asset Management Co. now owns 11,771 shares of the industrial products company’s stock worth $1,786,000 after purchasing an additional 818 shares in the last quarter. Great West Life Assurance Co. Can lifted its stake in IDEX by 16.3% in the 1st quarter. Great West Life Assurance Co. Can now owns 85,622 shares of the industrial products company’s stock worth $12,972,000 after purchasing an additional 11,978 shares in the last quarter. Commerce Bank lifted its stake in IDEX by 2.3% in the 1st quarter. Commerce Bank now owns 7,645 shares of the industrial products company’s stock worth $1,161,000 after purchasing an additional 174 shares in the last quarter. US Bancorp DE lifted its stake in IDEX by 387.4% in the 1st quarter. US Bancorp DE now owns 12,278 shares of the industrial products company’s stock worth $1,862,000 after purchasing an additional 9,759 shares in the last quarter. Finally, Keybank National Association OH purchased a new stake in IDEX in the 1st quarter worth approximately $411,000. 94.67% of the stock is owned by hedge funds and other institutional investors.
Several analysts have recently weighed in on the stock. Zacks Investment Research cut shares of IDEX from a “buy” rating to a “hold” rating in a research report on Friday. Berenberg Bank assumed coverage on shares of IDEX in a research report on Wednesday, May 15th. They set a “buy” rating and a $180.00 price objective on the stock. Oppenheimer restated a “hold” rating on shares of IDEX in a research report on Wednesday, May 8th. DA Davidson restated a “neutral” rating on shares of IDEX in a research report on Friday, April 26th. Finally, Stifel Nicolaus raised their price objective on shares of IDEX from $129.00 to $153.00 and gave the company a “hold” rating in a research report on Tuesday, April 16th. Nine equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $153.10.
Shares of NYSE:IEX opened at $152.92 on Monday. The firm has a market capitalization of $11.58 billion, a P/E ratio of 28.27, a price-to-earnings-growth ratio of 2.63 and a beta of 1.27. IDEX Co. has a 52 week low of $117.72 and a 52 week high of $159.51. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.45 and a current ratio of 3.33.
IDEX (NYSE:IEX) last issued its earnings results on Thursday, April 25th. The industrial products company reported $1.44 EPS for the quarter, topping analysts’ consensus estimates of $1.37 by $0.07. The company had revenue of $622.20 million for the quarter, compared to analysts’ expectations of $634.38 million. IDEX had a net margin of 16.92% and a return on equity of 21.22%. The firm’s revenue was up 1.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.27 EPS. As a group, equities analysts forecast that IDEX Co. will post 5.82 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date is Thursday, May 16th. This is a boost from IDEX’s previous quarterly dividend of $0.43. IDEX’s dividend payout ratio (DPR) is presently 36.97%.
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IDEX Corporation, through its subsidiaries, operates as an applied solutions company 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, flow meters, injectors, and other fluid-handling pump modules and systems, as well as offers flow monitoring and other services for the food, chemical, general industrial, water and wastewater, agricultural, and energy industries.
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