American International Group Inc. increased its position in IDEX Co. (NYSE:IEX) by 1.0% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 154,804 shares of the industrial products company’s stock after purchasing an additional 1,561 shares during the period. American International Group Inc. owned about 0.20% of IDEX worth $21,128,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. Gofen & Glossberg LLC IL acquired a new position in IDEX in the 2nd quarter worth approximately $7,194,000. Aperio Group LLC boosted its stake in shares of IDEX by 5.7% during the 1st quarter. Aperio Group LLC now owns 36,411 shares of the industrial products company’s stock valued at $5,189,000 after buying an additional 1,970 shares during the period. Ontario Teachers Pension Plan Board acquired a new stake in shares of IDEX during the 1st quarter valued at $16,843,000. Robeco Institutional Asset Management B.V. boosted its stake in shares of IDEX by 1.9% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 178,497 shares of the industrial products company’s stock valued at $25,441,000 after buying an additional 3,323 shares during the period. Finally, Gateway Investment Advisers LLC acquired a new stake in shares of IDEX during the 2nd quarter valued at $208,000. 95.73% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts have issued reports on IEX shares. BMO Capital Markets reissued a “hold” rating and set a $150.00 target price on shares of IDEX in a research note on Thursday, July 26th. Zacks Investment Research lowered shares of IDEX from a “buy” rating to a “hold” rating in a research note on Friday, May 25th. Royal Bank of Canada reissued a “hold” rating and set a $144.00 target price on shares of IDEX in a research note on Friday, July 13th. Robert W. Baird reissued a “buy” rating and set a $143.00 target price on shares of IDEX in a research note on Friday, July 20th. Finally, Oppenheimer reissued a “hold” rating on shares of IDEX in a research note on Wednesday, July 25th. Twelve investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. IDEX has a consensus rating of “Hold” and an average price target of $147.90.
In other news, Chairman Andrew K. Silvernail sold 94,045 shares of the firm’s stock in a transaction on Wednesday, July 25th. The shares were sold at an average price of $145.00, for a total transaction of $13,636,525.00. Following the transaction, the chairman now owns 149,451 shares in the company, valued at approximately $21,670,395. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO William K. Grogan sold 3,406 shares of IDEX stock in a transaction on Tuesday, August 14th. The stock was sold at an average price of $152.90, for a total transaction of $520,777.40. Following the completion of the transaction, the chief financial officer now owns 5,485 shares in the company, valued at approximately $838,656.50. The disclosure for this sale can be found here. Insiders have sold a total of 137,591 shares of company stock worth $20,202,118 in the last 90 days. 1.20% of the stock is owned by insiders.
IDEX stock opened at $152.12 on Friday. The firm has a market cap of $11.58 billion, a PE ratio of 35.29, a price-to-earnings-growth ratio of 2.59 and a beta of 1.22. The company has a current ratio of 3.21, a quick ratio of 2.39 and a debt-to-equity ratio of 0.43. IDEX Co. has a 1-year low of $110.25 and a 1-year high of $154.62.
IDEX (NYSE:IEX) last released its quarterly earnings results on Tuesday, July 24th. The industrial products company reported $1.40 earnings per share for the quarter, beating analysts’ consensus estimates of $1.31 by $0.09. The business had revenue of $634.40 million for the quarter, compared to the consensus estimate of $623.10 million. IDEX had a net margin of 15.94% and a return on equity of 19.71%. IDEX’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.08 EPS. research analysts expect that IDEX Co. will post 5.31 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 31st. Stockholders of record on Monday, July 16th were issued a dividend of $0.43 per share. The ex-dividend date was Friday, July 13th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 1.13%. IDEX’s dividend payout ratio is currently 39.91%.
IDEX Corporation, through its subsidiaries, provides various pumps, valves, flow meters, other fluidics systems and components, and engineered products worldwide. Its Fluid & Metering Technologies segment designs, produces, and distributes positive displacement pumps, flow meters, injectors, other fluid-handling pump modules and systems, and specialty valve products, as well as offers flow monitoring and other services for food, chemical, general industrial, water and wastewater, agricultural, and energy industries.
See Also: Diversification
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