Intech Investment Management LLC Has $4.12 Million Stake in IDEX Co. (NYSE:IEX)

Intech Investment Management LLC grew its stake in IDEX Co. (NYSE:IEX) by 48.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,456 shares of the industrial products company’s stock after purchasing an additional 6,657 shares during the period. Intech Investment Management LLC’s holdings in IDEX were worth $4,116,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Riverview Trust Co acquired a new stake in IDEX in the first quarter valued at approximately $35,000. Quarry LP bought a new position in shares of IDEX in the 4th quarter valued at $36,000. EdgeRock Capital LLC acquired a new stake in shares of IDEX during the 2nd quarter valued at $41,000. Whittier Trust Co. grew its position in IDEX by 38.4% during the 2nd quarter. Whittier Trust Co. now owns 209 shares of the industrial products company’s stock worth $42,000 after acquiring an additional 58 shares during the last quarter. Finally, UMB Bank n.a. increased its holdings in IDEX by 31.0% in the 2nd quarter. UMB Bank n.a. now owns 241 shares of the industrial products company’s stock worth $48,000 after purchasing an additional 57 shares in the last quarter. 97.96% of the stock is owned by institutional investors.

Analysts Set New Price Targets

IEX has been the topic of several research reports. TD Cowen reduced their price target on IDEX from $240.00 to $230.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. StockNews.com lowered shares of IDEX from a “buy” rating to a “hold” rating in a report on Thursday, July 11th. DA Davidson dropped their price target on shares of IDEX from $220.00 to $210.00 and set a “neutral” rating for the company in a research note on Monday, August 5th. Robert W. Baird reduced their price objective on shares of IDEX from $256.00 to $241.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. Finally, Argus downgraded IDEX from a “buy” rating to a “hold” rating in a report on Wednesday, August 14th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $233.50.

IDEX Trading Down 0.8 %

IEX opened at $208.73 on Friday. IDEX Co. has a twelve month low of $183.76 and a twelve month high of $246.36. The company has a fifty day moving average of $201.03 and a 200-day moving average of $213.64. The stock has a market cap of $15.80 billion, a PE ratio of 27.46, a price-to-earnings-growth ratio of 2.09 and a beta of 0.95. The company has a quick ratio of 2.52, a current ratio of 3.41 and a debt-to-equity ratio of 0.36.

IDEX (NYSE:IEX) last issued its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $2.06 earnings per share for the quarter, topping analysts’ consensus estimates of $2.04 by $0.02. The firm had revenue of $807.20 million during the quarter, compared to the consensus estimate of $828.15 million. IDEX had a return on equity of 16.87% and a net margin of 18.19%. The business’s revenue was down 4.6% compared to the same quarter last year. During the same period last year, the business posted $2.18 EPS. On average, sell-side analysts predict that IDEX Co. will post 7.88 EPS for the current year.

IDEX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, October 11th will be paid a $0.69 dividend. This represents a $2.76 annualized dividend and a yield of 1.32%. The ex-dividend date of this dividend is Friday, October 11th. IDEX’s dividend payout ratio (DPR) is presently 36.32%.

About IDEX

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.