Fullcircle Wealth LLC Acquires Shares of 1,768 IDEX Corporation $IEX

Fullcircle Wealth LLC acquired a new stake in shares of IDEX Corporation (NYSE:IEX) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,768 shares of the industrial products company’s stock, valued at approximately $310,000.

Several other institutional investors have also added to or reduced their stakes in IEX. Wellington Management Group LLP raised its position in IDEX by 19.7% during the first quarter. Wellington Management Group LLP now owns 5,050,601 shares of the industrial products company’s stock valued at $914,007,000 after purchasing an additional 831,005 shares in the last quarter. Millennium Management LLC raised its position in IDEX by 1,232.4% during the first quarter. Millennium Management LLC now owns 487,274 shares of the industrial products company’s stock valued at $88,182,000 after purchasing an additional 450,704 shares in the last quarter. Flossbach Von Storch SE acquired a new position in IDEX during the first quarter valued at approximately $49,815,000. Amundi raised its position in IDEX by 23.4% during the first quarter. Amundi now owns 1,249,546 shares of the industrial products company’s stock valued at $220,849,000 after purchasing an additional 236,650 shares in the last quarter. Finally, Invesco Ltd. raised its position in IDEX by 15.4% during the first quarter. Invesco Ltd. now owns 1,545,463 shares of the industrial products company’s stock valued at $279,682,000 after purchasing an additional 206,633 shares in the last quarter. 97.96% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have commented on IEX. Stifel Nicolaus lowered their price objective on shares of IDEX from $204.00 to $191.00 and set a “buy” rating for the company in a research report on Monday, October 20th. Royal Bank Of Canada lowered their price target on shares of IDEX from $200.00 to $195.00 and set an “outperform” rating for the company in a report on Thursday, October 30th. DA Davidson set a $180.00 price target on shares of IDEX and gave the stock a “neutral” rating in a report on Monday, August 4th. Citigroup upped their price target on shares of IDEX from $208.00 to $216.00 and gave the stock a “buy” rating in a report on Monday, July 14th. Finally, Oppenheimer set a $210.00 price target on shares of IDEX in a report on Tuesday, October 7th. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, IDEX currently has a consensus rating of “Moderate Buy” and a consensus price target of $198.86.

IDEX Stock Performance

NYSE IEX opened at $168.18 on Wednesday. The company has a market capitalization of $12.59 billion, a price-to-earnings ratio of 26.61, a PEG ratio of 1.83 and a beta of 1.04. IDEX Corporation has a twelve month low of $153.36 and a twelve month high of $238.22. The stock has a fifty day simple moving average of $164.50 and a 200 day simple moving average of $172.35. The company has a quick ratio of 2.13, a current ratio of 2.93 and a debt-to-equity ratio of 0.47.

IDEX (NYSE:IEX) last posted its quarterly earnings data 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 15.20% and a net margin of 13.97%. Sell-side analysts expect that IDEX Corporation will post 8.26 EPS for the current year.

IDEX Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 24th. Investors of record on Friday, October 10th were issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date was Friday, October 10th. IDEX’s dividend payout ratio is presently 44.94%.

IDEX announced that its board has authorized a share buyback plan on Thursday, September 18th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the industrial products company to repurchase up to 8.3% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its stock is undervalued.

IDEX 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.