Global X Management Co. LLC raised its stake in IDEX Corporation (NYSE:IEX) by 1.3% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,869 shares of the industrial products company’s stock after buying an additional 36 shares during the period. Global X Management Co. LLC’s holdings in IDEX Corporation were worth $268,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. Wellington Management Group LLP boosted its stake in IDEX Corporation by 1.4% in the first quarter. Wellington Management Group LLP now owns 2,830,339 shares of the industrial products company’s stock valued at $264,665,000 after buying an additional 39,295 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in IDEX Corporation by 4.1% in the first quarter. Bank of New York Mellon Corp now owns 954,923 shares of the industrial products company’s stock valued at $89,295,000 after buying an additional 37,834 shares in the last quarter. Impax Asset Management LTD boosted its stake in IDEX Corporation by 19.4% in the first quarter. Impax Asset Management LTD now owns 853,006 shares of the industrial products company’s stock valued at $79,765,000 after buying an additional 138,374 shares in the last quarter. Norges Bank acquired a new stake in IDEX Corporation during the fourth quarter valued at approximately $55,949,000. Finally, Principal Financial Group Inc. boosted its stake in IDEX Corporation by 5.7% in the first quarter. Principal Financial Group Inc. now owns 567,016 shares of the industrial products company’s stock valued at $53,022,000 after buying an additional 30,728 shares in the last quarter. 99.03% of the stock is owned by institutional investors and hedge funds.
IDEX Corporation (NYSE IEX) opened at 112.70 on Friday. The stock has a 50 day moving average price of $108.03 and a 200-day moving average price of $96.85. IDEX Corporation has a 12-month low of $77.93 and a 12-month high of $114.94. The company has a market cap of $8.60 billion, a price-to-earnings ratio of 31.05 and a beta of 1.15.
IDEX Corporation (NYSE:IEX) last posted its quarterly earnings results on Wednesday, April 19th. The industrial products company reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.10. The company had revenue of $553.60 million for the quarter, compared to the consensus estimate of $533.14 million. IDEX Corporation had a return on equity of 19.19% and a net margin of 12.89%. The firm’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.89 EPS. On average, analysts predict that IDEX Corporation will post $4.07 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, July 31st. Shareholders of record on Friday, July 14th will be paid a dividend of $0.37 per share. The ex-dividend date is Wednesday, July 12th. This represents a $1.48 annualized dividend and a yield of 1.31%. IDEX Corporation’s dividend payout ratio is 40.66%.
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Several equities research analysts recently commented on IEX shares. BMO Capital Markets reaffirmed a “hold” rating and set a $101.00 target price on shares of IDEX Corporation in a research note on Monday, March 27th. Zacks Investment Research cut IDEX Corporation from a “buy” rating to a “hold” rating in a research note on Monday, May 22nd. Royal Bank Of Canada reissued a “hold” rating and issued a $99.00 price objective on shares of IDEX Corporation in a research note on Tuesday, April 11th. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of IDEX Corporation in a research note on Wednesday, May 24th. Finally, Seaport Global Securities reissued a “neutral” rating on shares of IDEX Corporation in a research note on Wednesday. Nine analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. IDEX Corporation presently has an average rating of “Hold” and an average price target of $100.71.
In other IDEX Corporation news, SVP Jeffrey D. Bucklew sold 2,000 shares of the stock in a transaction on Monday, April 24th. The stock was sold at an average price of $103.09, for a total transaction of $206,180.00. Following the sale, the senior vice president now directly owns 2,726 shares in the company, valued at approximately $281,023.34. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Michael J. Yates sold 10,533 shares of the stock in a transaction on Wednesday, April 26th. The shares were sold at an average price of $104.30, for a total value of $1,098,591.90. Following the sale, the vice president now owns 34,418 shares in the company, valued at $3,589,797.40. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.
About IDEX Corporation
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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