Capital World Investors Acquires 24,401 Shares of IDEX Corporation (IEX)
Capital World Investors boosted its holdings in shares of IDEX Corporation (NYSE:IEX) by 0.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,989,771 shares of the industrial products company’s stock after buying an additional 24,401 shares during the period. Capital World Investors owned approximately 7.84% of IDEX Corporation worth $676,904,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in IEX. First Bank & Trust lifted its stake in shares of IDEX Corporation by 0.5% in the second quarter. First Bank & Trust now owns 7,326 shares of the industrial products company’s stock valued at $828,000 after buying an additional 34 shares in the last quarter. Global X Management Co. LLC grew its holdings in shares of IDEX Corporation by 1.3% during the first quarter. Global X Management Co. LLC now owns 2,869 shares of the industrial products company’s stock valued at $268,000 after buying an additional 36 shares during the last quarter. US Bancorp DE grew its holdings in shares of IDEX Corporation by 1.4% during the first quarter. US Bancorp DE now owns 2,646 shares of the industrial products company’s stock valued at $247,000 after buying an additional 37 shares during the last quarter. Steinberg Global Asset Management grew its holdings in shares of IDEX Corporation by 0.6% during the second quarter. Steinberg Global Asset Management now owns 8,597 shares of the industrial products company’s stock valued at $972,000 after buying an additional 51 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its holdings in shares of IDEX Corporation by 0.9% during the second quarter. PNC Financial Services Group Inc. now owns 13,302 shares of the industrial products company’s stock valued at $1,504,000 after buying an additional 113 shares during the last quarter. Hedge funds and other institutional investors own 98.50% of the company’s stock.
In other IDEX Corporation news, SVP Daniel J. Salliotte sold 6,000 shares of the business’s stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $115.34, for a total transaction of $692,040.00. Following the completion of the sale, the senior vice president now directly owns 33,762 shares in the company, valued at approximately $3,894,109.08. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Chairman Andrew K. Silvernail sold 50,000 shares of the business’s stock in a transaction on 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 sale, the chairman now owns 142,114 shares of the company’s stock, valued at $16,343,110. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 60,000 shares of company stock worth $6,909,200. 1.00% of the stock is owned by insiders.
Several equities research analysts recently issued reports on IEX shares. Jefferies Group LLC reiterated a “hold” rating and set a $91.00 price target on shares of IDEX Corporation in a report on Friday, August 4th. BidaskClub lowered shares of IDEX Corporation from a “buy” rating to a “hold” rating in a research note on Saturday, August 12th. BMO Capital Markets reissued a “hold” rating and set a $110.00 target price on shares of IDEX Corporation in a research report on Friday, July 28th. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of IDEX Corporation in a research note on Thursday, September 21st. Finally, Royal Bank Of Canada restated a “sector perform” rating and issued a $115.00 target price (up previously from $109.00) on shares of IDEX Corporation in a research note on Thursday, July 27th. Ten equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. IDEX Corporation has a consensus rating of “Hold” and a consensus price target of $108.63.
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IDEX Corporation (NYSE IEX) traded up 0.18% during midday trading on Tuesday, hitting $123.03. 92,969 shares of the company were exchanged. The stock has a market capitalization of $9.40 billion, a price-to-earnings ratio of 32.98 and a beta of 1.19. The stock has a 50 day moving average of $118.71 and a 200-day moving average of $109.51. IDEX Corporation has a 1-year low of $82.05 and a 1-year high of $124.54.
IDEX Corporation (NYSE:IEX) last announced its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $1.08 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 firm had revenue of $573.40 million during the quarter, compared to analyst estimates of $568.43 million. During the same period in the previous year, the business posted $0.99 earnings per share. The business’s revenue for the quarter was up 4.3% on a year-over-year basis. Equities analysts expect that IDEX Corporation will post $4.23 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Investors of record on Monday, October 16th will be given a dividend of $0.37 per share. The ex-dividend date is Friday, October 13th. This represents a $1.48 dividend on an annualized basis and a yield of 1.21%. IDEX Corporation’s dividend payout ratio (DPR) is 39.68%.
IDEX Corporation 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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