Eventide Asset Management LLC boosted its holdings in IDEX Corporation (NYSE:IEX – Free Report) by 2.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 99,135 shares of the industrial products company’s stock after acquiring an additional 2,753 shares during the period. Eventide Asset Management LLC’s holdings in IDEX were worth $17,653,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also added to or reduced their stakes in the company. GoalVest Advisory LLC bought a new stake in IDEX in the 4th quarter valued at $26,000. Laurel Wealth Advisors LLC bought a new stake in IDEX in the 4th quarter valued at $27,000. Cromwell Holdings LLC increased its position in IDEX by 41.1% during the 4th quarter. Cromwell Holdings LLC now owns 199 shares of the industrial products company’s stock worth $35,000 after buying an additional 58 shares during the period. CYBER HORNET ETFs LLC bought a new position in IDEX during the 2nd quarter worth $35,000. Finally, MUFG Securities EMEA plc bought a new position in IDEX during the 2nd quarter worth $39,000. Institutional investors own 97.96% of the company’s stock.
IDEX Stock Performance
IEX opened at $218.12 on Monday. The firm has a market cap of $16.14 billion, a P/E ratio of 32.27, a price-to-earnings-growth ratio of 2.14 and a beta of 1.00. IDEX Corporation has a 52-week low of $157.25 and a 52-week high of $223.94. The company has a debt-to-equity ratio of 0.46, a quick ratio of 2.40 and a current ratio of 3.39. The business’s fifty day moving average is $208.47 and its 200-day moving average is $197.41.
IDEX Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Friday, May 22nd were paid a $0.73 dividend. This represents a $2.92 annualized dividend and a yield of 1.3%. This is a boost from IDEX’s previous quarterly dividend of $0.71. The ex-dividend date of this dividend was Friday, May 22nd. IDEX’s payout ratio is 43.20%.
Analysts Set New Price Targets
Several research firms have weighed in on IEX. Citigroup increased their price objective on IDEX from $243.00 to $252.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Weiss Ratings reiterated a “hold (c)” rating on shares of IDEX in a research report on Monday, April 20th. Royal Bank Of Canada increased their price objective on IDEX from $225.00 to $252.00 and gave the stock an “outperform” rating in a research report on Thursday, April 30th. Robert W. Baird set a $257.00 price objective on IDEX in a research report on Thursday, April 30th. Finally, Seaport Research Partners reiterated a “buy” rating and set a $250.00 price objective on shares of IDEX in a research report on Tuesday, May 5th. Six research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $241.11.
Read Our Latest Analysis on IEX
Insiders Place Their Bets
In related news, CEO Eric D. Ashleman sold 15,385 shares of the firm’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $215.22, for a total value of $3,311,159.70. Following the sale, the chief executive officer directly owned 66,658 shares of the company’s stock, valued at $14,346,134.76. This trade represents a 18.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.50% of the stock is owned by company insiders.
About IDEX
IDEX Corporation is a diversified industrial manufacturer specializing in the design, production and distribution of highly engineered fluidics systems, measurement technologies and safety solutions. The company’s core offerings include positive-displacement pumps, flow meters, valves, sampling systems and analytical instruments that serve a wide range of end markets such as water treatment, chemical processing, energy, food and beverage, and life sciences. Through its focus on precision engineering and proprietary material science, IDEX delivers products designed for reliability in demanding applications.
Operations at IDEX are organized into three principal segments.
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