IDEX Corporation (IEX) Stake Decreased by Neuberger Berman Group LLC
Neuberger Berman Group LLC cut its position in shares of IDEX Corporation (NYSE:IEX) by 1.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 266,260 shares of the industrial products company’s stock after selling 4,689 shares during the period. Neuberger Berman Group LLC owned 0.35% of IDEX Corporation worth $30,090,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in the company. Mitsubishi UFJ Trust & Banking Corp acquired a new position in shares of IDEX Corporation during the 2nd quarter worth about $17,392,000. Fjarde AP Fonden Fourth Swedish National Pension Fund acquired a new position in shares of IDEX Corporation during the 2nd quarter worth about $2,912,000. Andra AP fonden acquired a new position in shares of IDEX Corporation during the 2nd quarter worth about $1,616,000. Robeco Institutional Asset Management B.V. acquired a new position in shares of IDEX Corporation during the 2nd quarter worth about $134,000. Finally, Penserra Capital Management LLC increased its stake in shares of IDEX Corporation by 13.0% during the 2nd quarter. Penserra Capital Management LLC now owns 2,340 shares of the industrial products company’s stock worth $264,000 after purchasing an additional 270 shares during the last quarter. Institutional investors own 99.13% of the company’s stock.
In related news, Chairman Andrew K. Silvernail sold 50,000 shares of the firm’s stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $115.00, for a total transaction of $5,750,000.00. Following the completion of the sale, the chairman now owns 142,114 shares in the company, valued at $16,343,110. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Jeffrey D. Bucklew sold 4,000 shares of the firm’s stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $116.79, for a total transaction of $467,160.00. Following the sale, the senior vice president now owns 6,726 shares of the company’s stock, valued at approximately $785,529.54. The disclosure for this sale can be found here. Insiders have sold 60,000 shares of company stock valued at $6,909,200 in the last 90 days. 1.00% of the stock is currently owned by corporate insiders.
IEX has been the topic of several recent analyst reports. Zacks Investment Research upgraded shares of IDEX Corporation from a “hold” rating to a “buy” rating and set a $117.00 price objective on the stock in a research note on Wednesday, May 10th. BidaskClub upgraded shares of IDEX Corporation from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 20th. Stifel Nicolaus restated a “hold” rating and set a $120.00 price objective on shares of IDEX Corporation in a research note on Sunday. Finally, Cowen and Company boosted their price objective on shares of IDEX Corporation from $80.00 to $95.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 5th. Eleven investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $107.25.
Shares of IDEX Corporation (NYSE:IEX) opened at 117.78 on Tuesday. The company has a market cap of $9.00 billion, a P/E ratio of 31.57 and a beta of 1.19. IDEX Corporation has a one year low of $82.05 and a one year high of $118.76. The company’s 50 day moving average is $115.01 and its 200 day moving average is $105.20.
IDEX Corporation (NYSE:IEX) last posted its quarterly earnings data 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. IDEX Corporation had a net margin of 13.12% and a return on equity of 19.01%. The business had revenue of $573.40 million during the quarter, compared to the consensus estimate of $568.43 million. During the same quarter last year, the company posted $0.99 earnings per share. The firm’s quarterly revenue was up 4.3% compared to the same quarter last year. On average, equities analysts predict that IDEX Corporation will post $4.23 earnings per share for the current year.
About IDEX Corporation
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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