Ensign Peak Advisors Inc Purchases 62,887 Shares of IDEX Co. (NYSE:IEX)

Ensign Peak Advisors Inc raised its position in shares of IDEX Co. (NYSE:IEX) by 25.9% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 305,242 shares of the industrial products company’s stock after purchasing an additional 62,887 shares during the quarter. Ensign Peak Advisors Inc’s holdings in IDEX were worth $63,884,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Wellington Management Group LLP grew its holdings in shares of IDEX by 49.1% in the fourth quarter. Wellington Management Group LLP now owns 4,219,596 shares of the industrial products company’s stock valued at $883,119,000 after purchasing an additional 1,388,667 shares in the last quarter. Norges Bank bought a new stake in shares of IDEX in the 4th quarter worth about $217,658,000. Price T Rowe Associates Inc. MD raised its position in shares of IDEX by 8.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,666,777 shares of the industrial products company’s stock valued at $767,421,000 after buying an additional 277,964 shares in the last quarter. Allianz Asset Management GmbH lifted its holdings in shares of IDEX by 133.2% in the 4th quarter. Allianz Asset Management GmbH now owns 406,637 shares of the industrial products company’s stock valued at $85,105,000 after acquiring an additional 232,255 shares during the last quarter. Finally, Corient Private Wealth LLC grew its position in IDEX by 237.1% in the fourth quarter. Corient Private Wealth LLC now owns 256,769 shares of the industrial products company’s stock worth $53,740,000 after acquiring an additional 180,601 shares in the last quarter. Institutional investors own 97.96% of the company’s stock.

IDEX Trading Down 0.7 %

Shares of IEX opened at $183.40 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.53 and a quick ratio of 1.85. The firm has a market capitalization of $13.85 billion, a price-to-earnings ratio of 27.58, a PEG ratio of 1.98 and a beta of 1.07. The company has a 50-day moving average of $176.39 and a 200 day moving average of $201.25. IDEX Co. has a 1-year low of $153.36 and a 1-year high of $238.22.

IDEX (NYSE:IEX) last announced its quarterly earnings data on Thursday, May 1st. The industrial products company reported $1.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.64 by $0.11. The company had revenue of $814.30 million for the quarter, compared to analysts’ expectations of $807.25 million. IDEX had a return on equity of 16.08% and a net margin of 15.45%. IDEX’s revenue was up 1.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.88 earnings per share. On average, research analysts expect that IDEX Co. will post 8.26 EPS for the current year.

IDEX Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Monday, May 19th will be issued a $0.71 dividend. This is an increase from IDEX’s previous quarterly dividend of $0.69. This represents a $2.84 annualized dividend and a dividend yield of 1.55%. The ex-dividend date is Monday, May 19th. IDEX’s payout ratio is presently 43.74%.

Wall Street Analysts Forecast Growth

IEX has been the subject of several analyst reports. Royal Bank of Canada raised their price objective on IDEX from $206.00 to $208.00 and gave the company an “outperform” rating in a research note on Friday, May 2nd. DA Davidson lowered their price target on IDEX from $225.00 to $215.00 and set a “neutral” rating for the company in a research report on Wednesday, February 19th. Robert W. Baird set a $215.00 target price on shares of IDEX in a research note on Friday, May 2nd. Mizuho set a $175.00 price target on shares of IDEX in a research note on Tuesday, April 22nd. Finally, Citigroup cut their price target on shares of IDEX from $264.00 to $201.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, IDEX presently has an average rating of “Moderate Buy” and a consensus price target of $211.25.

IDEX Company Profile

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.