First Trust Advisors LP Purchases 58,571 Shares of IDEX Co. (NYSE:IEX)

First Trust Advisors LP grew its stake in IDEX Co. (NYSE:IEXFree Report) by 16.6% in the 4th quarter, Holdings Channel reports. The firm owned 410,404 shares of the industrial products company’s stock after purchasing an additional 58,571 shares during the period. First Trust Advisors LP’s holdings in IDEX were worth $89,103,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in IEX. Norges Bank bought a new position in IDEX in the 4th quarter worth $237,425,000. Alecta Tjanstepension Omsesidigt grew its position in shares of IDEX by 420.8% in the 4th quarter. Alecta Tjanstepension Omsesidigt now owns 781,172 shares of the industrial products company’s stock worth $169,600,000 after buying an additional 631,172 shares during the period. Ameriprise Financial Inc. grew its position in shares of IDEX by 316.9% in the 3rd quarter. Ameriprise Financial Inc. now owns 368,849 shares of the industrial products company’s stock worth $76,667,000 after buying an additional 280,385 shares during the period. Maren Capital LLC purchased a new stake in shares of IDEX in the 4th quarter worth about $49,789,000. Finally, Assenagon Asset Management S.A. grew its position in shares of IDEX by 6,079.1% in the 4th quarter. Assenagon Asset Management S.A. now owns 189,143 shares of the industrial products company’s stock worth $41,065,000 after buying an additional 186,082 shares during the period. 97.96% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Robert W. Baird reduced their target price on shares of IDEX from $260.00 to $256.00 and set an “outperform” rating on the stock in a research report on Thursday, April 25th. Royal Bank of Canada reissued an “outperform” rating and set a $255.00 price objective on shares of IDEX in a research report on Thursday, March 21st. Stifel Nicolaus raised shares of IDEX from a “hold” rating to a “buy” rating and increased their price objective for the company from $215.00 to $265.00 in a research report on Thursday, February 8th. Oppenheimer increased their price objective on shares of IDEX from $245.00 to $252.00 and gave the company an “outperform” rating in a research report on Thursday, April 18th. Finally, Citigroup increased their price objective on shares of IDEX from $254.00 to $277.00 and gave the company a “buy” rating in a research report on Monday, April 8th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $250.71.

Get Our Latest Report on IDEX

IDEX Stock Up 0.7 %

NYSE IEX opened at $207.61 on Thursday. The company has a quick ratio of 2.45, a current ratio of 3.37 and a debt-to-equity ratio of 0.37. The company has a fifty day moving average of $224.67 and a two-hundred day moving average of $221.13. The firm has a market capitalization of $15.71 billion, a price-to-earnings ratio of 27.32, a PEG ratio of 2.07 and a beta of 0.99. IDEX Co. has a 52 week low of $183.76 and a 52 week high of $246.36.

IDEX (NYSE:IEXGet Free Report) last released its earnings results on Tuesday, April 23rd. The industrial products company reported $1.88 earnings per share for the quarter, topping the consensus estimate of $1.76 by $0.12. IDEX had a return on equity of 17.60% and a net margin of 17.89%. The business had revenue of $801.00 million during the quarter, compared to the consensus estimate of $807.52 million. During the same period last year, the company earned $2.09 earnings per share. The business’s revenue for the quarter was down 5.3% compared to the same quarter last year. On average, analysts predict that IDEX Co. will post 8.31 earnings per share for the current year.

IDEX Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 31st. Investors of record on Friday, May 17th were issued a $0.69 dividend. This is an increase from IDEX’s previous quarterly dividend of $0.64. This represents a $2.76 annualized dividend and a dividend yield of 1.33%. The ex-dividend date of this dividend was Thursday, May 16th. IDEX’s payout ratio is presently 36.32%.

About IDEX

(Free Report)

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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Institutional Ownership by Quarter for IDEX (NYSE:IEX)

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