IDEX Co. (NYSE:IEX) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP lessened its stake in shares of IDEX Co. (NYSE:IEX) by 0.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,219,226 shares of the industrial products company’s stock after selling 12,053 shares during the period. Wellington Management Group LLP owned 2.93% of IDEX worth $481,816,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the business. Impax Asset Management Group plc raised its holdings in IDEX by 4.0% in the 4th quarter. Impax Asset Management Group plc now owns 2,190,741 shares of the industrial products company’s stock valued at $475,632,000 after acquiring an additional 84,502 shares during the last quarter. Norges Bank acquired a new stake in IDEX in the 4th quarter valued at about $237,425,000. Northern Trust Corp raised its holdings in IDEX by 6.1% in the 3rd quarter. Northern Trust Corp now owns 785,716 shares of the industrial products company’s stock valued at $163,445,000 after acquiring an additional 45,120 shares during the last quarter. Alecta Tjanstepension Omsesidigt raised its holdings in IDEX by 420.8% in the 4th quarter. Alecta Tjanstepension Omsesidigt now owns 781,172 shares of the industrial products company’s stock valued at $169,600,000 after acquiring an additional 631,172 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in IDEX by 2.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 608,744 shares of the industrial products company’s stock valued at $132,164,000 after acquiring an additional 15,202 shares during the last quarter. Institutional investors and hedge funds own 97.96% of the company’s stock.

IDEX Stock Performance

Shares of IEX stock opened at $198.23 on Monday. The company has a quick ratio of 2.45, a current ratio of 3.37 and a debt-to-equity ratio of 0.37. IDEX Co. has a 52 week low of $183.76 and a 52 week high of $246.36. The stock has a market capitalization of $15.00 billion, a PE ratio of 26.08, a P/E/G ratio of 1.99 and a beta of 0.99. The firm has a 50 day moving average of $219.37 and a two-hundred day moving average of $221.38.

IDEX (NYSE:IEX) last announced its quarterly earnings data on Tuesday, April 23rd. The industrial products company reported $1.88 earnings per share for the quarter, beating analysts’ consensus estimates of $1.76 by $0.12. IDEX had a net margin of 17.89% and a return on equity of 17.60%. The business had revenue of $801.00 million for the quarter, compared to analyst estimates of $807.52 million. During the same period last year, the business earned $2.09 EPS. The company’s revenue was down 5.3% on a year-over-year basis. On average, research analysts predict that IDEX Co. will post 8.31 EPS for the current fiscal year.

IDEX Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Friday, May 17th were given a dividend of $0.69 per share. This is an increase from IDEX’s previous quarterly dividend of $0.64. This represents a $2.76 annualized dividend and a yield of 1.39%. The ex-dividend date of this dividend was Thursday, May 16th. IDEX’s dividend payout ratio (DPR) is presently 36.32%.

Analyst Ratings Changes

A number of analysts have commented on IEX shares. Oppenheimer increased their price objective on shares of IDEX from $245.00 to $252.00 and gave the company an “outperform” rating in a report on Thursday, April 18th. Robert W. Baird dropped their price target on shares of IDEX from $260.00 to $256.00 and set an “outperform” rating for the company in a research note on Thursday, April 25th. Royal Bank of Canada reissued an “outperform” rating and issued a $255.00 price target on shares of IDEX in a research note on Thursday, March 21st. StockNews.com raised shares of IDEX from a “hold” rating to a “buy” rating in a research note on Saturday, May 18th. Finally, Citigroup increased their price target on shares of IDEX from $254.00 to $277.00 and gave the company a “buy” rating in a research note on Monday, April 8th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, IDEX has an average rating of “Moderate Buy” and a consensus price target of $250.71.

IDEX Company Profile

IDEX Corporation, together with its subsidiaries, provides applied solutions 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, valves, small volume provers, flow meters, injectors, and other fluid-handling pump modules and systems, as well as flow monitoring and other services for the food, chemical, general industrial, water and wastewater, agricultural, and energy industries.