IDEX Corporation $IEX Shares Purchased by Vanguard Personalized Indexing Management LLC

Vanguard Personalized Indexing Management LLC raised its position in IDEX Corporation (NYSE:IEX) by 24.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,912 shares of the industrial products company’s stock after acquiring an additional 1,379 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in IDEX were worth $1,214,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of IEX. Thurston Springer Miller Herd & Titak Inc. boosted its stake in shares of IDEX by 257.5% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 143 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 103 shares during the period. American National Bank & Trust purchased a new position in IDEX in the 2nd quarter valued at approximately $25,000. Steph & Co. acquired a new position in shares of IDEX in the second quarter worth $42,000. SVB Wealth LLC purchased a new stake in shares of IDEX during the first quarter worth $56,000. Finally, Federated Hermes Inc. raised its stake in shares of IDEX by 42.9% in the first quarter. Federated Hermes Inc. now owns 333 shares of the industrial products company’s stock valued at $60,000 after acquiring an additional 100 shares in the last quarter. 97.96% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on IEX. Weiss Ratings reissued a “hold (c-)” rating on shares of IDEX in a research note on Wednesday, October 8th. Oppenheimer set a $210.00 price objective on IDEX in a research note on Tuesday, October 7th. Royal Bank Of Canada cut their target price on shares of IDEX from $207.00 to $200.00 and set an “outperform” rating on the stock in a research note on Thursday, July 31st. Citigroup raised their target price on shares of IDEX from $208.00 to $216.00 and gave the company a “buy” rating in a report on Monday, July 14th. Finally, DA Davidson set a $180.00 price target on shares of IDEX and gave the stock a “neutral” rating in a research note on Monday, August 4th. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, IDEX currently has an average rating of “Moderate Buy” and a consensus price target of $201.43.

IDEX Stock Performance

NYSE IEX opened at $166.53 on Friday. The company has a fifty day moving average of $163.57 and a two-hundred day moving average of $172.07. The company has a market capitalization of $12.54 billion, a PE ratio of 26.90, a P/E/G ratio of 1.76 and a beta of 1.04. IDEX Corporation has a 1 year low of $153.36 and a 1 year high of $238.22. The company has a debt-to-equity ratio of 0.46, a current ratio of 3.05 and a quick ratio of 2.13.

IDEX (NYSE:IEX) last posted its earnings results on Friday, December 16th. The industrial products company reported $1.79 earnings per share for the quarter. The business had revenue of $712.00 million during the quarter. IDEX had a return on equity of 15.16% and a net margin of 14.05%. As a group, analysts expect that IDEX Corporation will post 8.26 earnings per share for the current year.

IDEX Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 24th. Stockholders of record on Friday, October 10th will be issued a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend is Friday, October 10th. IDEX’s dividend payout ratio is presently 45.88%.

IDEX declared that its Board of Directors has approved a share repurchase plan on Thursday, September 18th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the industrial products company to purchase up to 8.3% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

About IDEX

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.