Russell Investments Group Ltd. cut its position in IDEX Co. (NYSE:IEX – Get Rating) by 21.1% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 28,949 shares of the industrial products company’s stock after selling 7,730 shares during the quarter. Russell Investments Group Ltd.’s holdings in IDEX were worth $5,569,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. Allworth Financial LP raised its holdings in IDEX by 1,072.7% in the first quarter. Allworth Financial LP now owns 129 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 118 shares in the last quarter. EverSource Wealth Advisors LLC bought a new position in IDEX in the fourth quarter worth about $31,000. Riverview Trust Co bought a new position in IDEX in the first quarter worth about $27,000. Quent Capital LLC acquired a new position in shares of IDEX during the fourth quarter valued at about $46,000. Finally, Sandy Cove Advisors LLC acquired a new position in shares of IDEX during the fourth quarter valued at about $51,000. 96.95% of the stock is currently owned by institutional investors.
IDEX Price Performance
Shares of NYSE IEX opened at $209.46 on Wednesday. The business’s 50 day moving average price is $189.90 and its 200 day moving average price is $192.30. The firm has a market cap of $15.81 billion, a P/E ratio of 31.26, a P/E/G ratio of 2.22 and a beta of 1.05. IDEX Co. has a 52 week low of $172.18 and a 52 week high of $240.33. The company has a quick ratio of 2.13, a current ratio of 3.02 and a debt-to-equity ratio of 0.43.
IDEX (NYSE:IEX – Get Rating) last released its quarterly earnings data on Tuesday, July 26th. The industrial products company reported $2.02 EPS for the quarter, topping the consensus estimate of $1.89 by $0.13. IDEX had a return on equity of 19.50% and a net margin of 17.24%. During the same period last year, the firm posted $1.61 EPS. On average, sell-side analysts expect that IDEX Co. will post 7.94 earnings per share for the current year.
IDEX Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, July 29th. Shareholders of record on Friday, July 15th were given a $0.60 dividend. The ex-dividend date was Thursday, July 14th. This represents a $2.40 annualized dividend and a yield of 1.15%. IDEX’s dividend payout ratio is presently 35.82%.
Wall Street Analysts Forecast Growth
Several equities analysts have recently issued reports on the stock. DA Davidson restated a “neutral” rating on shares of IDEX in a report on Thursday, April 28th. Oppenheimer upgraded shares of IDEX from a “market perform” rating to an “outperform” rating and set a $215.00 price objective on the stock in a report on Thursday, July 14th. Mizuho upped their price objective on shares of IDEX from $190.00 to $205.00 and gave the company a “neutral” rating in a report on Monday, August 1st. Citigroup upped their price objective on shares of IDEX from $219.00 to $228.00 in a report on Thursday, July 28th. Finally, StockNews.com upgraded shares of IDEX from a “hold” rating to a “buy” rating in a report on Friday, July 22nd. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $219.82.
IDEX Company 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, small volume provers, 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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