The Manufacturers Life Insurance Company Sells 389 Shares of IDEX Co. (NYSE:IEX)

The Manufacturers Life Insurance Company cut its stake in shares of IDEX Co. (NYSE:IEXFree Report) by 0.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 52,049 shares of the industrial products company’s stock after selling 389 shares during the quarter. The Manufacturers Life Insurance Company owned 0.07% of IDEX worth $11,300,000 as of its most recent filing with the Securities and Exchange Commission.

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

IDEX Stock Up 0.6 %

IEX stock opened at $202.91 on Tuesday. 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 company’s 50 day moving average is $222.25 and its 200 day moving average is $221.41. The stock has a market cap of $15.36 billion, a price-to-earnings ratio of 26.70, a price-to-earnings-growth ratio of 2.02 and a beta of 0.99. IDEX Co. has a 1-year low of $183.76 and a 1-year high of $246.36.

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

IDEX Increases Dividend

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

Analyst Ratings Changes

IEX has been the subject of a number of recent research reports. Robert W. Baird decreased their price target on shares of IDEX from $260.00 to $256.00 and set an “outperform” rating for the company in a research note on Thursday, April 25th. Royal Bank of Canada restated an “outperform” rating and set a $255.00 price target on shares of IDEX in a research report on Thursday, March 21st. Citigroup increased their price target 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. Oppenheimer upped their price objective on shares of IDEX from $245.00 to $252.00 and gave the company an “outperform” rating in a report on Thursday, April 18th. Finally, StockNews.com raised shares of IDEX from a “hold” rating to a “buy” rating in a report on Saturday, May 18th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $250.71.

Get Our Latest Stock Report on IEX

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.

See Also

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Institutional Ownership by Quarter for IDEX (NYSE:IEX)

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