Handelsbanken Fonder AB raised its position in IDEX Co. (NYSE:IEX – Free Report) by 24.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,600 shares of the industrial products company’s stock after purchasing an additional 3,800 shares during the quarter. Handelsbanken Fonder AB’s holdings in IDEX were worth $4,204,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in the company. Riverview Trust Co acquired a new stake in shares of IDEX during the 1st quarter worth about $35,000. Quarry LP acquired a new stake in shares of IDEX during the fourth quarter valued at about $36,000. EdgeRock Capital LLC purchased a new stake in shares of IDEX in the 2nd quarter valued at approximately $41,000. Whittier Trust Co. lifted its holdings in shares of IDEX by 38.4% in 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. boosted its position in shares of IDEX by 31.0% during 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 during the period. Hedge funds and other institutional investors own 97.96% of the company’s stock.
IDEX Stock Performance
Shares of IDEX stock opened at $208.41 on Wednesday. The business has a 50-day simple moving average of $202.39 and a 200-day simple moving average of $210.99. The company has a market cap of $15.78 billion, a PE ratio of 27.42, a P/E/G ratio of 2.22 and a beta of 0.95. IDEX Co. has a one year low of $183.76 and a one year high of $246.36. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.52 and a current ratio of 3.41.
IDEX Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, October 11th will be issued a $0.69 dividend. This represents a $2.76 annualized dividend and a dividend yield of 1.32%. The ex-dividend date is Friday, October 11th. IDEX’s payout ratio is 36.32%.
Analysts Set New Price Targets
IEX has been the topic of a number of research analyst reports. TD Cowen cut their target price on IDEX from $240.00 to $230.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. DA Davidson decreased their target price on IDEX from $220.00 to $210.00 and set a “neutral” rating on the stock in a research note on Monday, August 5th. Robert W. Baird dropped their target price on IDEX from $256.00 to $241.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Royal Bank of Canada reduced their price target on shares of IDEX from $250.00 to $236.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. Finally, StockNews.com cut shares of IDEX from a “buy” rating to a “hold” rating in a report on Thursday, July 11th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $238.29.
Check Out Our Latest Report on IEX
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.
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