Savant Capital LLC Invests $290,000 in IDEX Corporation $IEX

Savant Capital LLC purchased a new stake in IDEX Corporation (NYSE:IEX) during the second quarter, Holdings Channel reports. The institutional investor purchased 1,653 shares of the industrial products company’s stock, valued at approximately $290,000.

A number of other large investors also recently added to or reduced their stakes in IEX. Wellington Management Group LLP grew its position in shares of IDEX by 19.7% in the first quarter. Wellington Management Group LLP now owns 5,050,601 shares of the industrial products company’s stock valued at $914,007,000 after purchasing an additional 831,005 shares during the period. Millennium Management LLC lifted its stake in IDEX by 1,232.4% in the 1st quarter. Millennium Management LLC now owns 487,274 shares of the industrial products company’s stock valued at $88,182,000 after buying an additional 450,704 shares in the last quarter. Amundi boosted its holdings in IDEX by 23.4% in the 1st quarter. Amundi now owns 1,249,546 shares of the industrial products company’s stock worth $220,849,000 after buying an additional 236,650 shares during the last quarter. Invesco Ltd. increased its stake in IDEX by 15.4% during the 1st quarter. Invesco Ltd. now owns 1,545,463 shares of the industrial products company’s stock worth $279,682,000 after buying an additional 206,633 shares in the last quarter. Finally, Findlay Park Partners LLP raised its holdings in shares of IDEX by 66.0% during the first quarter. Findlay Park Partners LLP now owns 469,299 shares of the industrial products company’s stock valued at $84,929,000 after acquiring an additional 186,599 shares during the last quarter. 97.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on IEX shares. Oppenheimer set a $210.00 price target on IDEX in a research note on Tuesday, October 7th. Royal Bank Of Canada lowered their target price on shares of IDEX from $200.00 to $195.00 and set an “outperform” rating on the stock in a research note on Thursday, October 30th. DA Davidson set a $180.00 target price on shares of IDEX and gave the company a “neutral” rating in a research report on Monday, August 4th. Weiss Ratings reissued a “hold (c-)” rating on shares of IDEX in a research note on Wednesday, October 8th. Finally, Stifel Nicolaus dropped their price objective on shares of IDEX from $204.00 to $191.00 and set a “buy” rating for the company in a research note on Monday, October 20th. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, IDEX currently has an average rating of “Moderate Buy” and a consensus target price of $198.86.

IDEX Trading Down 0.7%

Shares of IEX stock opened at $161.67 on Wednesday. The company has a current ratio of 2.93, a quick ratio of 2.13 and a debt-to-equity ratio of 0.47. IDEX Corporation has a twelve month low of $153.36 and a twelve month high of $237.38. The company’s 50-day moving average price is $165.07 and its 200-day moving average price is $171.99. The stock has a market cap of $12.10 billion, a price-to-earnings ratio of 25.58, a PEG ratio of 1.83 and a beta of 1.04.

IDEX (NYSE:IEX) last posted its quarterly earnings results on Friday, December 16th. The industrial products company reported $1.79 earnings per share for the quarter. The business had revenue of $712.00 million during the quarter. IDEX had a net margin of 13.97% and a return on equity of 15.20%. As a group, equities analysts predict that IDEX Corporation will post 8.26 earnings per share for the current year.

IDEX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 30th. Shareholders of record on Friday, January 16th will be paid a dividend of $0.71 per share. The ex-dividend date of this dividend is Friday, January 16th. This represents a $2.84 annualized dividend and a yield of 1.8%. IDEX’s dividend payout ratio (DPR) is 44.94%.

IDEX declared that its Board of Directors has approved a stock buyback plan on Thursday, September 18th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the industrial products company to buy up to 8.3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its stock is undervalued.

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, valves, small volume provers, flow meters, injectors, and other fluid-handling pump modules and systems, as well as flow monitoring and other services for the food, chemical, general industrial, water and wastewater, agricultural, and energy industries.