GYL Financial Synergies LLC acquired a new stake in shares of IDEX Co. (NYSE:IEX) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 5,575 shares of the industrial products company’s stock, valued at approximately $846,000.
Several other large investors also recently made changes to their positions in the stock. BlackRock Inc. grew its position in IDEX by 0.8% in the 1st quarter. BlackRock Inc. now owns 8,048,153 shares of the industrial products company’s stock valued at $1,221,229,000 after acquiring an additional 65,516 shares during the last quarter. Vanguard Group Inc grew its position in IDEX by 1.4% in the 3rd quarter. Vanguard Group Inc now owns 6,997,198 shares of the industrial products company’s stock valued at $1,054,197,000 after acquiring an additional 95,176 shares during the last quarter. Oregon Public Employees Retirement Fund grew its position in IDEX by 10,176.1% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 4,856,591 shares of the industrial products company’s stock valued at $38,000 after acquiring an additional 4,809,330 shares during the last quarter. FMR LLC grew its position in IDEX by 55.9% in the 4th quarter. FMR LLC now owns 1,733,558 shares of the industrial products company’s stock valued at $218,879,000 after acquiring an additional 621,397 shares during the last quarter. Finally, Impax Asset Management Group plc grew its position in IDEX by 15.5% in the 4th quarter. Impax Asset Management Group plc now owns 1,240,378 shares of the industrial products company’s stock valued at $156,610,000 after acquiring an additional 166,540 shares during the last quarter. Institutional investors own 94.66% of the company’s stock.
Shares of IEX traded down $1.48 during midday trading on Friday, reaching $158.79. 63,917 shares of the stock were exchanged, compared to its average volume of 292,526. IDEX Co. has a 52 week low of $117.72 and a 52 week high of $165.72. The company has a market capitalization of $12.14 billion, a price-to-earnings ratio of 29.35, a PEG ratio of 2.76 and a beta of 1.22. The company has a current ratio of 3.33, a quick ratio of 2.45 and a debt-to-equity ratio of 0.41.
IDEX (NYSE:IEX) last issued its quarterly earnings data on Thursday, April 25th. The industrial products company reported $1.44 earnings per share for the quarter, beating analysts’ consensus estimates of $1.37 by $0.07. IDEX had a return on equity of 21.22% and a net margin of 16.92%. The company had revenue of $622.20 million for the quarter, compared to the consensus estimate of $634.38 million. During the same quarter last year, the company earned $1.27 earnings per share. The firm’s revenue for the quarter was up 1.6% compared to the same quarter last year. On average, equities research analysts predict that IDEX Co. will post 5.82 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, May 31st. Investors of record on Friday, May 17th were given a dividend of $0.50 per share. The ex-dividend date was Thursday, May 16th. This represents a $2.00 dividend on an annualized basis and a yield of 1.26%. This is an increase from IDEX’s previous quarterly dividend of $0.43. IDEX’s dividend payout ratio (DPR) is presently 36.97%.
In other IDEX news, SVP Daniel J. Salliotte sold 7,125 shares of the stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $153.06, for a total value of $1,090,552.50. Following the completion of the sale, the senior vice president now directly owns 44,545 shares in the company, valued at $6,818,057.70. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Michael J. Yates sold 15,178 shares of the stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $156.97, for a total value of $2,382,490.66. Following the completion of the sale, the vice president now owns 38,590 shares of the company’s stock, valued at $6,057,472.30. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 103,423 shares of company stock worth $16,055,566. 1.20% of the stock is owned by corporate insiders.
A number of equities analysts have recently issued reports on IEX shares. Berenberg Bank started coverage on IDEX in a research report on Wednesday, May 15th. They set a “buy” rating and a $180.00 price target on the stock. Zacks Investment Research downgraded IDEX from a “hold” rating to a “sell” rating in a research report on Tuesday, April 2nd. Janney Montgomery Scott downgraded IDEX from a “buy” rating to a “neutral” rating in a research report on Friday, March 29th. Oppenheimer reissued a “hold” rating on shares of IDEX in a research report on Wednesday, May 8th. Finally, DA Davidson reissued a “neutral” rating on shares of IDEX in a research report on Friday, April 26th. Nine investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $153.00.
TRADEMARK VIOLATION NOTICE: “GYL Financial Synergies LLC Takes Position in IDEX Co. (NYSE:IEX)” was reported by Macon Daily and is the sole property of of Macon Daily. If you are viewing this news story on another website, it was stolen and reposted in violation of US & international copyright and trademark legislation. The legal version of this news story can be accessed at https://macondaily.com/2019/06/14/gyl-financial-synergies-llc-takes-position-in-idex-co-nyseiex.html.
IDEX Company Profile
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.
See Also: What is Depreciation?
Want to see what other hedge funds are holding IEX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for IDEX Co. (NYSE:IEX).
Receive News & Ratings for IDEX Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for IDEX and related companies with MarketBeat.com's FREE daily email newsletter.