Rafferty Asset Management LLC Increases Holdings in IDEX Co. (NYSE:IEX)

Rafferty Asset Management LLC increased its holdings in IDEX Co. (NYSE:IEXFree Report) by 5.5% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 6,342 shares of the industrial products company’s stock after buying an additional 330 shares during the period. Rafferty Asset Management LLC’s holdings in IDEX were worth $1,377,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently bought and sold shares of IEX. DB Fitzpatrick & Co Inc increased its stake in shares of IDEX by 2.4% in the fourth quarter. DB Fitzpatrick & Co Inc now owns 2,833 shares of the industrial products company’s stock worth $615,000 after acquiring an additional 67 shares during the period. Desjardins Global Asset Management Inc. grew its position in IDEX by 25.6% during the 4th quarter. Desjardins Global Asset Management Inc. now owns 388 shares of the industrial products company’s stock worth $84,000 after purchasing an additional 79 shares during the period. Cary Street Partners Investment Advisory LLC grew its position in IDEX by 30.9% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 339 shares of the industrial products company’s stock worth $71,000 after purchasing an additional 80 shares during the period. Wahed Invest LLC raised its stake in shares of IDEX by 9.1% during the 3rd quarter. Wahed Invest LLC now owns 1,193 shares of the industrial products company’s stock valued at $248,000 after buying an additional 100 shares during the last quarter. Finally, CenterBook Partners LP lifted its holdings in shares of IDEX by 1.7% in the 3rd quarter. CenterBook Partners LP now owns 6,328 shares of the industrial products company’s stock valued at $1,316,000 after buying an additional 103 shares during the period. 97.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

IEX has been the subject of a number of recent analyst reports. Citigroup lifted their price objective on shares of IDEX from $254.00 to $277.00 and gave the company a “buy” rating in a report on Monday, April 8th. Robert W. Baird reduced their price objective on IDEX from $260.00 to $256.00 and set an “outperform” rating for the company in a research note on Thursday, April 25th. Oppenheimer boosted their price target on shares of IDEX from $245.00 to $252.00 and gave the stock an “outperform” rating in a research report on Thursday, April 18th. StockNews.com upgraded IDEX from a “hold” rating to a “buy” rating in a report on Saturday, May 18th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $255.00 price target on shares of IDEX in a research report on Thursday, March 21st. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $250.71.

Check Out Our Latest Stock Analysis on IDEX

IDEX Price Performance

IEX opened at $202.91 on Tuesday. The firm has a market cap of $15.36 billion, a price-to-earnings ratio of 26.70, a PEG ratio of 2.02 and a beta of 0.99. The company has a current ratio of 3.37, a quick ratio of 2.45 and a debt-to-equity ratio of 0.37. The stock’s 50-day moving average price is $222.25 and its 200 day moving average price is $221.41. IDEX Co. has a 12-month low of $183.76 and a 12-month 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 (EPS) for the quarter, topping analysts’ consensus estimates of $1.76 by $0.12. The company had revenue of $801.00 million for the quarter, compared to analyst estimates of $807.52 million. IDEX had a net margin of 17.89% and a return on equity of 17.60%. The firm’s quarterly revenue was down 5.3% on a year-over-year basis. During the same period in the prior year, the business earned $2.09 EPS. As a group, sell-side analysts expect that IDEX Co. will post 8.31 earnings per share for the current year.

IDEX Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Friday, May 17th were issued a dividend of $0.69 per share. This is an increase from IDEX’s previous quarterly dividend of $0.64. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $2.76 annualized dividend and a yield of 1.36%. IDEX’s dividend payout ratio is 36.32%.

IDEX Company Profile

(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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