Northern Trust Corp Cuts Stock Holdings in IDEX Co. (NYSE:IEX)

Northern Trust Corp trimmed its position in shares of IDEX Co. (NYSE:IEXFree Report) by 4.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 749,814 shares of the industrial products company’s stock after selling 35,902 shares during the quarter. Northern Trust Corp owned approximately 0.99% of IDEX worth $162,792,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in IEX. Planned Solutions Inc. purchased a new position in shares of IDEX during the 4th quarter valued at approximately $33,000. EdgeRock Capital LLC acquired a new stake in IDEX in the 4th quarter valued at $48,000. VisionPoint Advisory Group LLC acquired a new stake in IDEX in the 4th quarter valued at $50,000. Headlands Technologies LLC acquired a new stake in IDEX in the 4th quarter valued at $52,000. Finally, Compagnie Lombard Odier SCmA acquired a new stake in IDEX in the 4th quarter valued at $54,000. 97.96% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Get Our Latest Analysis on IDEX

IDEX Trading Up 0.6 %

NYSE IEX opened at $202.91 on Tuesday. The firm’s 50-day moving average is $222.25 and its two-hundred day moving average is $221.41. IDEX Co. has a 12 month low of $183.76 and a 12 month high of $246.36. The company has a debt-to-equity ratio of 0.37, a current ratio of 3.37 and a quick ratio of 2.45. The stock has a market capitalization of $15.36 billion, a P/E ratio of 26.70, a PEG ratio of 2.02 and a beta of 0.99.

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

IDEX Increases Dividend

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

IDEX 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.

Further Reading

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Institutional Ownership by Quarter for IDEX (NYSE:IEX)

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