Huntington National Bank reduced its stake in shares of IDEX Co. (NYSE:IEX) by 20.2% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 612 shares of the industrial products company’s stock after selling 155 shares during the quarter. Huntington National Bank’s holdings in IDEX were worth $93,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of IEX. Quantamental Technologies LLC acquired a new position in shares of IDEX during the 4th quarter worth about $25,000. Lindbrook Capital LLC acquired a new position in shares of IDEX during the 4th quarter worth about $32,000. Essex Investment Management Co. LLC acquired a new position in shares of IDEX during the 4th quarter worth about $33,000. JOYN Advisors Inc. grew its position in shares of IDEX by 51.4% during the 4th quarter. JOYN Advisors Inc. now owns 265 shares of the industrial products company’s stock worth $33,000 after buying an additional 90 shares during the period. Finally, Penserra Capital Management LLC acquired a new position in shares of IDEX during the 4th quarter worth about $35,000. Institutional investors own 94.63% of the company’s stock.
Several research firms have recently issued reports on IEX. Stifel Nicolaus boosted their target price on IDEX from $129.00 to $153.00 and gave the stock a “hold” rating in a research report on Tuesday. Zacks Investment Research upgraded IDEX from a “sell” rating to a “hold” rating in a research report on Monday, April 8th. Janney Montgomery Scott lowered IDEX from a “buy” rating to a “neutral” rating in a research report on Friday, March 29th. Boenning Scattergood restated a “hold” rating on shares of IDEX in a research report on Wednesday, January 30th. Finally, Royal Bank of Canada upgraded IDEX from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from $141.00 to $146.00 in a research report on Thursday, January 3rd. Eight analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $146.67.
Shares of IEX opened at $155.78 on Wednesday. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.00 and a quick ratio of 2.23. IDEX Co. has a 52-week low of $117.72 and a 52-week high of $159.10. The company has a market capitalization of $11.84 billion, a P/E ratio of 28.87, a price-to-earnings-growth ratio of 2.66 and a beta of 1.29.
IDEX (NYSE:IEX) last issued its quarterly earnings data on Tuesday, January 29th. The industrial products company reported $1.31 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.27 by $0.04. IDEX had a return on equity of 20.82% and a net margin of 16.53%. The business had revenue of $614.09 million during the quarter, compared to analyst estimates of $617.72 million. During the same period in the previous year, the firm earned $1.12 EPS. IDEX’s quarterly revenue was up 4.8% compared to the same quarter last year. Equities analysts forecast that IDEX Co. will post 5.73 EPS for the current year.
In other IDEX news, VP Michael J. Yates sold 11,397 shares of the business’s stock in a transaction that occurred on Wednesday, February 27th. The stock was sold at an average price of $144.72, for a total value of $1,649,373.84. Following the sale, the vice president now owns 26,590 shares in the company, valued at approximately $3,848,104.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Jeffrey D. Bucklew sold 2,255 shares of the business’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 value of $322,510.10. Following the completion of the sale, the senior vice president now owns 2,255 shares in the company, valued at approximately $322,510.10. The disclosure for this sale can be found here. 1.20% of the stock is currently owned by insiders.
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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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