Checchi Capital Advisers LLC grew its stake in IDEX Co. (NYSE:IEX – Free Report) by 4.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,495 shares of the industrial products company’s stock after purchasing an additional 58 shares during the quarter. Checchi Capital Advisers LLC’s holdings in IDEX were worth $322,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in the stock. EverSource Wealth Advisors LLC lifted its holdings in IDEX by 90.0% during the first quarter. EverSource Wealth Advisors LLC now owns 114 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 54 shares in the last quarter. Parkside Financial Bank & Trust lifted its holdings in IDEX by 120.3% during the first quarter. Parkside Financial Bank & Trust now owns 141 shares of the industrial products company’s stock worth $27,000 after acquiring an additional 77 shares in the last quarter. Clear Street Markets LLC lifted its holdings in IDEX by 94.7% during the first quarter. Clear Street Markets LLC now owns 148 shares of the industrial products company’s stock worth $34,000 after acquiring an additional 72 shares in the last quarter. Your Advocates Ltd. LLP bought a new position in IDEX during the second quarter worth about $60,000. Finally, Clearstead Advisors LLC lifted its holdings in IDEX by 910.7% during the first quarter. Clearstead Advisors LLC now owns 283 shares of the industrial products company’s stock worth $65,000 after acquiring an additional 255 shares in the last quarter. Institutional investors and hedge funds own 94.85% of the company’s stock.
IDEX Price Performance
Shares of NYSE IEX opened at $198.01 on Friday. The business’s 50 day moving average price is $201.48 and its two-hundred day moving average price is $209.20. The company has a market cap of $14.98 billion, a PE ratio of 24.39, a price-to-earnings-growth ratio of 2.03 and a beta of 0.97. The company has a quick ratio of 2.20, a current ratio of 3.11 and a debt-to-equity ratio of 0.39. IDEX Co. has a twelve month low of $183.76 and a twelve month high of $246.23.
IDEX Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, January 26th. Stockholders of record on Friday, January 12th will be given a $0.64 dividend. This represents a $2.56 annualized dividend and a dividend yield of 1.29%. The ex-dividend date of this dividend is Thursday, January 11th. IDEX’s payout ratio is 31.53%.
Analysts Set New Price Targets
Several research analysts have weighed in on the company. Citigroup lifted their target price on IDEX from $243.00 to $255.00 and gave the stock a “buy” rating in a report on Friday, July 28th. Oppenheimer restated an “outperform” rating and issued a $245.00 price target on shares of IDEX in a report on Thursday, October 19th. Argus boosted their price target on IDEX from $225.00 to $250.00 and gave the company a “buy” rating in a report on Thursday, August 24th. BNP Paribas began coverage on IDEX in a report on Thursday, October 5th. They issued a “neutral” rating and a $200.00 price target on the stock. Finally, StockNews.com began coverage on IDEX in a research report on Thursday, October 5th. They issued a “hold” rating on the stock. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, IDEX presently has a consensus rating of “Moderate Buy” and an average target price of $230.73.
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.
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