US Bancorp DE Has $1.25 Million Position in IDEX Corporation $IEX

US Bancorp DE lowered its position in shares of IDEX Corporation (NYSE:IEX) by 23.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 7,111 shares of the industrial products company’s stock after selling 2,121 shares during the quarter. US Bancorp DE’s holdings in IDEX were worth $1,249,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. KLP Kapitalforvaltning AS grew its holdings in IDEX by 5.9% during the second quarter. KLP Kapitalforvaltning AS now owns 27,100 shares of the industrial products company’s stock valued at $4,758,000 after purchasing an additional 1,500 shares during the period. Regency Capital Management Inc. DE acquired a new position in IDEX during the second quarter valued at approximately $871,000. Fenimore Asset Management Inc grew its holdings in IDEX by 2.0% during the second quarter. Fenimore Asset Management Inc now owns 872,652 shares of the industrial products company’s stock valued at $153,211,000 after purchasing an additional 16,701 shares during the period. DAVENPORT & Co LLC grew its holdings in IDEX by 58.5% during the second quarter. DAVENPORT & Co LLC now owns 1,932 shares of the industrial products company’s stock valued at $339,000 after purchasing an additional 713 shares during the period. Finally, 111 Capital acquired a new position in IDEX during the second quarter valued at approximately $839,000. Institutional investors and hedge funds own 97.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Royal Bank Of Canada decreased their price objective on shares of IDEX from $207.00 to $200.00 and set an “outperform” rating for the company in a report on Thursday, July 31st. Weiss Ratings reiterated a “hold (c-)” rating on shares of IDEX in a report on Wednesday, October 8th. Citigroup upped their price target on shares of IDEX from $208.00 to $216.00 and gave the company a “buy” rating in a report on Monday, July 14th. Oppenheimer set a $210.00 price target on shares of IDEX in a report on Tuesday, October 7th. Finally, DA Davidson set a $180.00 price target on shares of IDEX and gave the company a “neutral” rating in a report on Monday, August 4th. Five analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $201.43.

IDEX Stock Performance

Shares of IEX opened at $164.95 on Friday. IDEX Corporation has a 12 month low of $153.36 and a 12 month high of $238.22. The firm has a fifty day simple moving average of $163.41 and a 200 day simple moving average of $172.25. The stock has a market capitalization of $12.42 billion, a price-to-earnings ratio of 26.65, a PEG ratio of 1.72 and a beta of 1.04. The company has a current ratio of 3.05, a quick ratio of 2.13 and a debt-to-equity ratio of 0.46.

IDEX (NYSE:IEX) last announced its earnings results on Friday, December 16th. The industrial products company reported $1.79 EPS for the quarter. IDEX had a net margin of 14.05% and a return on equity of 15.16%. The business had revenue of $712.00 million during the quarter. Research analysts forecast that IDEX Corporation will post 8.26 EPS for the current fiscal year.

IDEX declared that its Board of Directors has approved a stock buyback program on Thursday, September 18th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the industrial products company to reacquire up to 8.3% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

IDEX Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 24th. Investors of record on Friday, October 10th will be issued a dividend of $0.71 per share. The ex-dividend date is Friday, October 10th. This represents a $2.84 annualized dividend and a yield of 1.7%. IDEX’s dividend payout ratio is presently 45.88%.

About IDEX

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.