IDEX Co. (NYSE:IEX) Shares Purchased by Principal Financial Group Inc.

Principal Financial Group Inc. boosted its holdings in shares of IDEX Co. (NYSE:IEXGet Rating) by 1.8% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 99,094 shares of the industrial products company’s stock after buying an additional 1,772 shares during the quarter. Principal Financial Group Inc.’s holdings in IDEX were worth $17,998,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in IEX. Kestra Advisory Services LLC lifted its holdings in IDEX by 6.1% during the 1st quarter. Kestra Advisory Services LLC now owns 1,271 shares of the industrial products company’s stock worth $244,000 after buying an additional 73 shares in the last quarter. CCLA Investment Management Ltd lifted its holdings in IDEX by 3.6% during the 1st quarter. CCLA Investment Management Ltd now owns 365,212 shares of the industrial products company’s stock worth $68,306,000 after buying an additional 12,548 shares in the last quarter. Park Avenue Securities LLC lifted its holdings in IDEX by 16.7% during the 1st quarter. Park Avenue Securities LLC now owns 1,611 shares of the industrial products company’s stock worth $309,000 after buying an additional 230 shares in the last quarter. Mutual of America Capital Management LLC lifted its holdings in IDEX by 1.2% during the 1st quarter. Mutual of America Capital Management LLC now owns 10,194 shares of the industrial products company’s stock worth $1,954,000 after buying an additional 116 shares in the last quarter. Finally, FDx Advisors Inc. lifted its holdings in IDEX by 26.7% during the 1st quarter. FDx Advisors Inc. now owns 3,484 shares of the industrial products company’s stock worth $668,000 after buying an additional 734 shares in the last quarter. 96.52% of the stock is currently owned by institutional investors and hedge funds.

IDEX Trading Up 0.7 %

NYSE IEX opened at $234.82 on Wednesday. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.23 and a quick ratio of 2.33. The firm’s fifty day moving average price is $213.02 and its 200 day moving average price is $201.10. The company has a market capitalization of $17.71 billion, a price-to-earnings ratio of 31.10, a price-to-earnings-growth ratio of 2.41 and a beta of 1.01. IDEX Co. has a 12 month low of $172.18 and a 12 month high of $240.33.

IDEX (NYSE:IEXGet Rating) last posted its earnings results on Tuesday, October 25th. The industrial products company reported $2.14 EPS for the quarter, beating analysts’ consensus estimates of $2.00 by $0.14. The firm had revenue of $824.00 million for the quarter, compared to the consensus estimate of $779.81 million. IDEX had a net margin of 18.66% and a return on equity of 20.68%. The company’s revenue was up 15.7% on a year-over-year basis. During the same period last year, the firm posted $1.63 EPS. On average, sell-side analysts expect that IDEX Co. will post 8.08 earnings per share for the current fiscal year.

IDEX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 27th. Investors of record on Friday, January 13th will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date is Thursday, January 12th. IDEX’s dividend payout ratio is currently 31.79%.

Insider Buying and Selling

In related news, CEO Eric D. Ashleman sold 15,848 shares of the stock in a transaction on Friday, October 28th. The shares were sold at an average price of $86.43, for a total transaction of $1,369,742.64. Following the completion of the sale, the chief executive officer now owns 38,480 shares in the company, valued at approximately $3,325,826.40. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director Livingston Satterthwaite sold 3,075 shares of the firm’s stock in a transaction on Wednesday, November 2nd. The shares were sold at an average price of $222.69, for a total value of $684,771.75. Following the completion of the sale, the director now owns 13,232 shares in the company, valued at approximately $2,946,634.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Eric D. Ashleman sold 15,848 shares of the firm’s stock in a transaction dated Friday, October 28th. The shares were sold at an average price of $86.43, for a total transaction of $1,369,742.64. Following the completion of the sale, the chief executive officer now owns 38,480 shares of the company’s stock, valued at approximately $3,325,826.40. The disclosure for this sale can be found here. Insiders sold a total of 19,766 shares of company stock worth $2,097,044 in the last 90 days. Company insiders own 0.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on IEX. StockNews.com initiated coverage on shares of IDEX in a report on Wednesday, October 12th. They set a “buy” rating on the stock. Mizuho increased their price objective on shares of IDEX from $205.00 to $208.00 and gave the company a “neutral” rating in a research report on Thursday, October 27th. Stifel Nicolaus dropped their price objective on shares of IDEX from $213.00 to $211.00 and set a “hold” rating on the stock in a research report on Tuesday, October 11th. Wells Fargo & Company increased their price objective on shares of IDEX from $260.00 to $265.00 and gave the company an “overweight” rating in a research report on Thursday, October 27th. Finally, DA Davidson increased their price objective on shares of IDEX from $220.00 to $225.00 in a research report on Tuesday. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $225.00.

IDEX Company Profile

(Get Rating)

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, small volume provers, 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.

Read More

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:IEXGet Rating).

Institutional Ownership by Quarter for IDEX (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.