Commonwealth Equity Services LLC boosted its position in IDEX Co. (NYSE:IEX) by 2.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,498 shares of the industrial products company’s stock after buying an additional 63 shares during the quarter. Commonwealth Equity Services LLC’s holdings in IDEX were worth $394,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also modified their holdings of IEX. Amundi Pioneer Asset Management Inc. grew its stake in shares of IDEX by 0.4% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 69,239 shares of the industrial products company’s stock valued at $10,506,000 after buying an additional 301 shares during the last quarter. Fifth Third Bancorp grew its position in IDEX by 25.0% during the 1st quarter. Fifth Third Bancorp now owns 855 shares of the industrial products company’s stock worth $118,000 after acquiring an additional 171 shares during the last quarter. Aigen Investment Management LP purchased a new position in IDEX in the 1st quarter worth approximately $134,000. Swiss National Bank lifted its position in IDEX by 23.4% in the first quarter. Swiss National Bank now owns 295,234 shares of the industrial products company’s stock valued at $40,775,000 after purchasing an additional 56,000 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake in shares of IDEX by 12.6% during the first quarter. PNC Financial Services Group Inc. now owns 10,960 shares of the industrial products company’s stock valued at $1,514,000 after purchasing an additional 1,223 shares during the period. Institutional investors and hedge funds own 97.01% of the company’s stock.
Shares of IEX opened at $186.21 on Wednesday. The company has a 50-day simple moving average of $175.07 and a two-hundred day simple moving average of $156.57. The company has a debt-to-equity ratio of 0.46, a current ratio of 3.48 and a quick ratio of 2.67. The firm has a market capitalization of $14.06 billion, a PE ratio of 38.08, a price-to-earnings-growth ratio of 3.86 and a beta of 1.07. IDEX Co. has a one year low of $104.56 and a one year high of $186.63.
IDEX (NYSE:IEX) last announced its earnings results on Friday, July 24th. The industrial products company reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.10. The firm had revenue of $561.25 million during the quarter, compared to analyst estimates of $526.69 million. IDEX had a return on equity of 18.15% and a net margin of 15.71%. During the same quarter in the prior year, the company earned $1.50 EPS. Analysts expect that IDEX Co. will post 4.69 EPS for the current fiscal year.
IEX has been the topic of several analyst reports. Wells Fargo & Company lifted their target price on shares of IDEX from $200.00 to $215.00 and gave the stock an “overweight” rating in a research note on Monday, July 27th. Rosenblatt Securities boosted their price objective on shares of IDEX from $172.00 to $178.00 and gave the company a “buy” rating in a research report on Sunday, July 26th. Stifel Nicolaus increased their target price on shares of IDEX from $172.00 to $195.00 and gave the stock a “buy” rating in a report on Monday, July 27th. Argus assumed coverage on IDEX in a research note on Friday, June 19th. They issued a “buy” rating and a $180.00 target price on the stock. Finally, Boenning Scattergood raised IDEX from a “neutral” rating to an “outperform” rating in a research report on Friday, July 24th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the company. IDEX currently has a consensus rating of “Buy” and a consensus price target of $171.83.
In related news, CEO Andrew K. Silvernail sold 99,870 shares of IDEX stock in a transaction dated Monday, July 27th. The shares were sold at an average price of $168.77, for a total transaction of $16,855,059.90. Following the completion of the transaction, the chief executive officer now directly owns 304,036 shares of the company’s stock, valued at approximately $51,312,155.72. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Michael J. Yates sold 15,397 shares of the business’s stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $180.17, for a total transaction of $2,774,077.49. Following the sale, the chief accounting officer now directly owns 28,763 shares in the company, valued at approximately $5,182,229.71. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 128,043 shares of company stock worth $21,872,661. 1.10% of the stock is owned by insiders.
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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