Raymond James Financial Services Advisors Inc. decreased its stake in IDEX Co. (NYSE:IEX) by 5.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,180 shares of the industrial products company’s stock after selling 251 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in IDEX were worth $865,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in IEX. Berman Capital Advisors LLC lifted its stake in shares of IDEX by 46.1% in the second quarter. Berman Capital Advisors LLC now owns 187 shares of the industrial products company’s stock valued at $41,000 after purchasing an additional 59 shares during the period. Penserra Capital Management LLC raised its position in IDEX by 34.2% during the second quarter. Penserra Capital Management LLC now owns 247 shares of the industrial products company’s stock worth $54,000 after acquiring an additional 63 shares during the last quarter. Signaturefd LLC raised its position in IDEX by 15.0% during the third quarter. Signaturefd LLC now owns 345 shares of the industrial products company’s stock worth $71,000 after acquiring an additional 45 shares during the last quarter. Benjamin F. Edwards & Company Inc. raised its position in IDEX by 15.9% during the third quarter. Benjamin F. Edwards & Company Inc. now owns 701 shares of the industrial products company’s stock worth $145,000 after acquiring an additional 96 shares during the last quarter. Finally, Corient Capital Partners LLC acquired a new position in IDEX during the second quarter worth about $202,000. Hedge funds and other institutional investors own 96.41% of the company’s stock.
A number of equities analysts have issued reports on the stock. Loop Capital assumed coverage on shares of IDEX in a research report on Monday, November 22nd. They set a “hold” rating and a $234.00 target price for the company. Robert W. Baird boosted their price objective on shares of IDEX from $253.00 to $256.00 and gave the company an “outperform” rating in a research report on Thursday, October 7th. Sanford C. Bernstein began coverage on shares of IDEX in a research report on Monday, January 10th. They issued a “market perform” rating and a $230.00 price objective for the company. DA Davidson boosted their price objective on shares of IDEX from $210.00 to $220.00 and gave the company a “neutral” rating in a research report on Thursday, October 28th. Finally, Royal Bank of Canada boosted their price objective on shares of IDEX from $252.00 to $254.00 and gave the company an “outperform” rating in a research report on Thursday, October 28th. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $239.73.
Shares of IEX stock opened at $220.31 on Friday. The company has a market capitalization of $16.75 billion, a PE ratio of 38.99, a price-to-earnings-growth ratio of 2.67 and a beta of 1.06. The firm has a fifty day simple moving average of $232.37 and a 200-day simple moving average of $224.82. The company has a current ratio of 3.38, a quick ratio of 2.62 and a debt-to-equity ratio of 0.44. IDEX Co. has a twelve month low of $185.23 and a twelve month high of $240.33.
IDEX (NYSE:IEX) last announced its earnings results on Monday, October 25th. The industrial products company reported $1.63 earnings per share for the quarter, beating the consensus estimate of $1.59 by $0.04. The business had revenue of $712.02 million during the quarter, compared to the consensus estimate of $697.44 million. IDEX had a net margin of 16.20% and a return on equity of 17.75%. The business’s quarterly revenue was up 22.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.40 earnings per share. Equities research analysts predict that IDEX Co. will post 6.34 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, January 28th. Investors of record on Friday, January 14th will be issued a $0.54 dividend. The ex-dividend date is Thursday, January 13th. This represents a $2.16 annualized dividend and a yield of 0.98%. IDEX’s dividend payout ratio is presently 38.23%.
IDEX Corp. engages in the provision of engineering solutions. It operates through the following segments: Fluid and Metering Technologies; Health and Science Technologies and Fire and Safety or Diversified Products. The Fluid and Metering Technologies segment involves in the design, production, and distribution of displacement pumps, valves, flow meters, injectors, and fluid-handling pump modules and systems.
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