SG Americas Securities LLC Boosts Stake in IDEX Co. (IEX)
SG Americas Securities LLC boosted its position in shares of IDEX Co. (NYSE:IEX) by 36.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,940 shares of the industrial products company’s stock after purchasing an additional 6,109 shares during the period. SG Americas Securities LLC’s holdings in IDEX were worth $2,896,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently made changes to their positions in the business. DNB Asset Management AS increased its stake in IDEX by 21.1% in the fourth quarter. DNB Asset Management AS now owns 16,069 shares of the industrial products company’s stock valued at $2,029,000 after acquiring an additional 2,804 shares during the last quarter. BTIM Corp. lifted its holdings in IDEX by 10.1% in the fourth quarter. BTIM Corp. now owns 79,936 shares of the industrial products company’s stock worth $10,093,000 after buying an additional 7,311 shares during the period. First Hawaiian Bank purchased a new position in shares of IDEX during the third quarter valued at approximately $120,000. Morgan Stanley lifted its holdings in shares of IDEX by 32.8% during the third quarter. Morgan Stanley now owns 326,434 shares of the industrial products company’s stock valued at $49,181,000 after purchasing an additional 80,558 shares during the last quarter. Finally, FMR LLC increased its position in shares of IDEX by 6.9% during the third quarter. FMR LLC now owns 1,112,161 shares of the industrial products company’s stock valued at $167,559,000 after acquiring an additional 71,693 shares in the last quarter. Institutional investors and hedge funds own 94.39% of the company’s stock.
Several brokerages have recently weighed in on IEX. Royal Bank of Canada upgraded shares of IDEX from a “sector perform” rating to an “outperform” rating and lifted their price target for the stock from $141.00 to $146.00 in a research note on Thursday, January 3rd. UBS Group set a $142.00 price target on shares of IDEX and gave the company a “hold” rating in a report on Friday, October 26th. Robert W. Baird dropped their target price on shares of IDEX from $145.00 to $139.00 and set an “outperform” rating on the stock in a research note on Thursday, October 25th. Zacks Investment Research cut shares of IDEX from a “hold” rating to a “sell” rating in a research report on Tuesday, October 16th. Finally, Janney Montgomery Scott raised shares of IDEX from a “neutral” rating to a “buy” rating and set a $149.00 target price for the company in a research report on Thursday, October 25th. Eight investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. IDEX has an average rating of “Hold” and a consensus price target of $145.70.
IDEX (NYSE:IEX) last issued its quarterly earnings data on Tuesday, January 29th. The industrial products company reported $1.31 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.27 by $0.04. IDEX had a net margin of 16.53% and a return on equity of 20.83%. The company had revenue of $614.09 million during the quarter, compared to the consensus estimate of $617.72 million. During the same quarter last year, the company earned $1.12 earnings per share. IDEX’s revenue for the quarter was up 4.8% on a year-over-year basis. Analysts forecast that IDEX Co. will post 5.73 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 30th. Investors of record on Tuesday, January 15th were paid a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date was Monday, January 14th. IDEX’s dividend payout ratio is currently 31.79%.
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IDEX Corporation, through its subsidiaries, operates as an applied solutions company 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, flow meters, injectors, and other fluid-handling pump modules and systems, as well as offers flow monitoring and other services for the food, chemical, general industrial, water and wastewater, agricultural, and energy industries.
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