IDEX Corporation (IEX) Position Reduced by Intrust Bank NA
Intrust Bank NA lowered its stake in shares of IDEX Corporation (NYSE:IEX) by 0.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 13,246 shares of the industrial products company’s stock after selling 102 shares during the period. Intrust Bank NA’s holdings in IDEX Corporation were worth $1,497,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. BlackRock Inc. increased its position in IDEX Corporation by 7,037.4% in the first quarter. BlackRock Inc. now owns 6,425,051 shares of the industrial products company’s stock valued at $600,808,000 after buying an additional 6,335,032 shares during the last quarter. Clearbridge Investments LLC increased its position in IDEX Corporation by 52.8% in the first quarter. Clearbridge Investments LLC now owns 1,326,704 shares of the industrial products company’s stock valued at $124,060,000 after buying an additional 458,726 shares during the last quarter. Vanguard Group Inc. increased its position in IDEX Corporation by 5.5% in the first quarter. Vanguard Group Inc. now owns 6,246,396 shares of the industrial products company’s stock valued at $584,099,000 after buying an additional 327,970 shares during the last quarter. Prudential Financial Inc. increased its position in IDEX Corporation by 468.9% in the second quarter. Prudential Financial Inc. now owns 368,154 shares of the industrial products company’s stock valued at $41,605,000 after buying an additional 303,440 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. bought a new position in IDEX Corporation during the second quarter valued at about $24,072,000. 98.67% of the stock is currently owned by institutional investors and hedge funds.
IDEX Corporation (NYSE IEX) opened at 114.50 on Friday. The stock has a market capitalization of $8.75 billion, a P/E ratio of 30.69 and a beta of 1.20. The stock has a 50 day moving average of $114.67 and a 200 day moving average of $104.29. IDEX Corporation has a 1-year low of $82.05 and a 1-year high of $118.08.
IDEX Corporation (NYSE:IEX) last released its earnings results on Tuesday, July 25th. The industrial products company reported $1.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.02. The firm had revenue of $573.40 million for the quarter, compared to analyst estimates of $568.43 million. IDEX Corporation had a return on equity of 19.01% and a net margin of 13.12%. IDEX Corporation’s revenue was up 4.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.99 earnings per share. On average, analysts expect that IDEX Corporation will post $4.23 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, July 31st. Investors of record on Friday, July 14th were issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date of this dividend was Wednesday, July 12th. IDEX Corporation’s payout ratio is currently 39.68%.
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IEX has been the topic of several recent analyst reports. Zacks Investment Research downgraded shares of IDEX Corporation from a “buy” rating to a “hold” rating in a report on Thursday, July 27th. BidaskClub raised shares of IDEX Corporation from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 20th. Cowen and Company increased their price objective on shares of IDEX Corporation from $80.00 to $95.00 and gave the company a “market perform” rating in a report on Wednesday, July 5th. Stifel Nicolaus reaffirmed a “hold” rating and set a $100.00 price objective on shares of IDEX Corporation in a report on Friday, May 26th. Finally, Seaport Global Securities reissued a “neutral” rating on shares of IDEX Corporation in a research note on Wednesday, June 21st. Eleven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. IDEX Corporation currently has an average rating of “Hold” and an average price target of $104.75.
In related news, Chairman Andrew K. Silvernail sold 50,000 shares of IDEX Corporation stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $115.00, for a total transaction of $5,750,000.00. Following the transaction, the chairman now directly owns 142,114 shares of the company’s stock, valued at $16,343,110. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 1.00% of the stock is owned by insiders.
IDEX Corporation Company Profile
IDEX Corporation (IDEX) operates an applied solutions business that sells pumps, flow meters and other fluidics systems, and components and engineered products. The Company operates through three segments: Fluid & Metering Technologies (FMT), Health & Science Technologies (HST) and Fire & Safety/Diversified Products (FSDP).
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