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

Principal Financial Group Inc. boosted its holdings in shares of IDEX Co. (NYSE:IEXGet Rating) by 1.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 99,094 shares of the industrial products company’s stock after purchasing an additional 1,772 shares during the period. Principal Financial Group Inc. owned about 0.13% of IDEX worth $17,998,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Brinker Capital Investments LLC lifted its position in IDEX by 1.1% during the second quarter. Brinker Capital Investments LLC now owns 5,545 shares of the industrial products company’s stock valued at $1,007,000 after purchasing an additional 59 shares during the period. Eagle Asset Management Inc. lifted its position in IDEX by 0.9% during the first quarter. Eagle Asset Management Inc. now owns 6,678 shares of the industrial products company’s stock valued at $1,280,000 after purchasing an additional 60 shares during the period. Mission Creek Capital Partners Inc. lifted its position in IDEX by 1.4% during the first quarter. Mission Creek Capital Partners Inc. now owns 4,917 shares of the industrial products company’s stock valued at $943,000 after purchasing an additional 68 shares during the period. Kestra Advisory Services LLC lifted its position in IDEX by 6.1% during the first quarter. Kestra Advisory Services LLC now owns 1,271 shares of the industrial products company’s stock valued at $244,000 after purchasing an additional 73 shares during the period. Finally, Parkside Financial Bank & Trust lifted its position in IDEX by 120.3% during the first quarter. Parkside Financial Bank & Trust now owns 141 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 77 shares during the period. 96.52% of the stock is currently owned by institutional investors and hedge funds.

IDEX Stock Up 0.7 %

IEX stock opened at $234.82 on Wednesday. The stock has a market capitalization of $17.71 billion, a P/E ratio of 31.10, a P/E/G ratio of 2.41 and a beta of 1.01. The firm has a 50-day simple moving average of $213.02 and a 200-day simple moving average of $201.10. The company has a quick ratio of 2.33, a current ratio of 3.23 and a debt-to-equity ratio of 0.42. IDEX Co. has a 52 week low of $172.18 and a 52 week high of $240.33.

IDEX (NYSE:IEXGet Rating) last released its earnings results on Tuesday, October 25th. The industrial products company reported $2.14 EPS for the quarter, topping analysts’ consensus estimates of $2.00 by $0.14. The business had revenue of $824.00 million during the quarter, compared to analysts’ expectations of $779.81 million. IDEX had a net margin of 18.66% and a return on equity of 20.68%. The company’s quarterly revenue was up 15.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.63 earnings per share. Equities analysts forecast that IDEX Co. will post 8.08 earnings per share for the current fiscal year.

IDEX Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date is Thursday, January 12th. This represents a $2.40 annualized dividend and a yield of 1.02%. IDEX’s dividend payout ratio is presently 31.79%.

Analysts Set New Price Targets

A number of brokerages have weighed in on IEX. Stifel Nicolaus decreased their price objective on shares of IDEX from $213.00 to $211.00 and set a “hold” rating for the company in a research report on Tuesday, October 11th. Sanford C. Bernstein began coverage on shares of IDEX in a research report on Tuesday, August 16th. They issued a “market perform” rating and a $220.00 price objective for the company. StockNews.com began coverage on shares of IDEX in a research report on Wednesday, October 12th. They issued a “buy” rating for the company. Wells Fargo & Company upped their price objective on shares of IDEX from $260.00 to $265.00 and gave the stock an “overweight” rating in a research report on Thursday, October 27th. Finally, Mizuho upped their price objective on shares of IDEX from $205.00 to $208.00 and gave the stock a “neutral” rating in a research report on Thursday, October 27th. Five analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $225.00.

Insider Activity at IDEX

In related news, CFO William K. Grogan sold 843 shares of the company’s stock in a transaction dated Friday, October 28th. The shares were sold at an average price of $50.45, for a total transaction of $42,529.35. Following the completion of the sale, the chief financial officer now owns 127,689 shares of the company’s stock, valued at approximately $6,441,910.05. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other IDEX news, CEO Eric D. Ashleman sold 15,848 shares of the business’s stock in a transaction dated Friday, October 28th. The shares were sold at an average price of $86.43, for a total value of $1,369,742.64. Following the transaction, the chief executive officer now directly owns 38,480 shares in the company, valued at approximately $3,325,826.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO William K. Grogan sold 843 shares of the business’s stock in a transaction dated Friday, October 28th. The shares were sold at an average price of $50.45, for a total transaction of $42,529.35. Following the completion of the transaction, the chief financial officer now owns 127,689 shares in the company, valued at $6,441,910.05. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,766 shares of company stock valued at $2,097,044. Corporate insiders own 0.50% of the company’s stock.

IDEX 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.