Comerica Bank lifted its position in shares of IDEX Co. (NYSE:IEX) by 1.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 50,943 shares of the industrial products company’s stock after acquiring an additional 825 shares during the quarter. Comerica Bank’s holdings in IDEX were worth $7,086,000 at the end of the most recent quarter.
Other institutional investors have also recently modified their holdings of the company. DNB Asset Management AS grew its position in IDEX by 21.1% during the fourth quarter. DNB Asset Management AS now owns 16,069 shares of the industrial products company’s stock worth $2,029,000 after buying an additional 2,804 shares during the period. BTIM Corp. lifted its holdings in shares of IDEX by 10.1% in the fourth quarter. BTIM Corp. now owns 79,936 shares of the industrial products company’s stock valued at $10,093,000 after purchasing an additional 7,311 shares in the last quarter. First Hawaiian Bank purchased a new stake in shares of IDEX in the third quarter valued at about $120,000. Morgan Stanley lifted its holdings in shares of IDEX by 32.8% in the third quarter. Morgan Stanley now owns 326,434 shares of the industrial products company’s stock valued at $49,181,000 after purchasing an additional 80,558 shares in the last quarter. Finally, FMR LLC lifted its holdings in shares of IDEX by 6.9% in the third quarter. FMR LLC now owns 1,112,161 shares of the industrial products company’s stock valued at $167,559,000 after purchasing an additional 71,693 shares in the last quarter. Institutional investors and hedge funds own 92.24% of the company’s stock.
Shares of NYSE IEX opened at $143.17 on Thursday. IDEX Co. has a 12-month low of $117.72 and a 12-month high of $157.84. The stock has a market capitalization of $10.93 billion, a price-to-earnings ratio of 26.35, a price-to-earnings-growth ratio of 2.43 and a beta of 1.27. The company has a current ratio of 3.00, a quick ratio of 2.23 and a debt-to-equity ratio of 0.43.
IDEX (NYSE:IEX) last announced its quarterly earnings results on Tuesday, January 29th. The industrial products company reported $1.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.04. IDEX had a net margin of 16.53% and a return on equity of 20.83%. The company had revenue of $614.09 million for the quarter, compared to the consensus estimate of $617.72 million. During the same quarter in the prior year, the firm earned $1.12 earnings per share. The company’s revenue for the quarter was up 4.8% compared to the same quarter last year. On average, equities analysts predict that IDEX Co. will post 5.73 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 30th. Investors of record on Tuesday, January 15th were paid a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 1.20%. The ex-dividend date was Monday, January 14th. IDEX’s payout ratio is 31.79%.
Several analysts have issued reports on the stock. Boenning Scattergood reaffirmed a “hold” rating on shares of IDEX in a report on Wednesday, January 30th. Zacks Investment Research raised shares of IDEX from a “sell” rating to a “hold” rating in a report on Thursday, January 24th. Eight research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $145.70.
In related news, SVP Jeffrey D. Bucklew sold 2,255 shares of the company’s stock in a transaction that occurred on Friday, February 15th. The shares were sold at an average price of $143.02, for a total transaction of $322,510.10. Following the transaction, the senior vice president now owns 2,255 shares of the company’s stock, valued at $322,510.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.20% of the company’s stock.
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IDEX Corporation, through its subsidiaries, operates as an applied solutions company 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, 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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