Dupont Capital Management Corp cut its stake in IDEX Co. (NYSE:IEX) by 12.0% during the third quarter, HoldingsChannel reports. The fund owned 107,621 shares of the industrial products company’s stock after selling 14,639 shares during the quarter. Dupont Capital Management Corp’s holdings in IDEX were worth $17,637,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of IEX. Bbva USA Bancshares Inc. boosted its holdings in IDEX by 1.3% during the second quarter. Bbva USA Bancshares Inc. now owns 5,835 shares of the industrial products company’s stock valued at $1,004,000 after acquiring an additional 74 shares during the period. Farr Miller & Washington LLC DC boosted its holdings in IDEX by 3.7% during the second quarter. Farr Miller & Washington LLC DC now owns 2,495 shares of the industrial products company’s stock valued at $429,000 after acquiring an additional 90 shares during the period. Johnson Investment Counsel Inc. boosted its holdings in IDEX by 1.6% during the second quarter. Johnson Investment Counsel Inc. now owns 6,359 shares of the industrial products company’s stock valued at $1,094,000 after acquiring an additional 99 shares during the period. We Are One Seven LLC boosted its holdings in IDEX by 3.1% during the third quarter. We Are One Seven LLC now owns 3,731 shares of the industrial products company’s stock valued at $611,000 after acquiring an additional 111 shares during the period. Finally, Raymond James Trust N.A. boosted its holdings in IDEX by 7.5% during the second quarter. Raymond James Trust N.A. now owns 1,596 shares of the industrial products company’s stock valued at $274,000 after acquiring an additional 112 shares during the period. 95.37% of the stock is currently owned by institutional investors and hedge funds.
In other news, CAO Michael J. Yates sold 28,960 shares of the firm’s stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $168.72, for a total transaction of $4,886,131.20. Following the completion of the sale, the chief accounting officer now owns 26,822 shares of the company’s stock, valued at $4,525,407.84. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Eric D. Ashleman sold 2,922 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $165.75, for a total transaction of $484,321.50. Following the completion of the sale, the chief operating officer now directly owns 22,453 shares of the company’s stock, valued at approximately $3,721,584.75. The disclosure for this sale can be found here. Insiders sold 65,444 shares of company stock valued at $10,913,471 in the last three months. Company insiders own 1.20% of the company’s stock.
A number of equities research analysts have issued reports on IEX shares. Zacks Investment Research cut shares of IDEX from a “buy” rating to a “hold” rating and set a $181.00 price target for the company. in a report on Monday, July 1st. ValuEngine cut shares of IDEX from a “buy” rating to a “hold” rating in a research note on Tuesday, October 1st. Stifel Nicolaus increased their target price on shares of IDEX from $157.00 to $162.00 and gave the company a “hold” rating in a research note on Monday, July 29th. Wells Fargo & Co increased their target price on shares of IDEX from $180.00 to $200.00 and gave the company an “outperform” rating in a research note on Tuesday, July 23rd. Finally, Citigroup started coverage on shares of IDEX in a research note on Monday, September 30th. They issued a “neutral” rating and a $175.00 target price for the company. Eight research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. IDEX currently has an average rating of “Hold” and an average target price of $174.00.
Shares of NYSE IEX traded up $0.64 during mid-day trading on Monday, hitting $159.36. The company had a trading volume of 306,192 shares, compared to its average volume of 464,625. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.36 and a quick ratio of 2.53. The business’s 50-day simple moving average is $162.66 and its 200-day simple moving average is $161.37. IDEX Co. has a 12 month low of $117.72 and a 12 month high of $173.84. The firm has a market cap of $11.97 billion, a P/E ratio of 29.46, a PEG ratio of 2.72 and a beta of 1.23.
IDEX (NYSE:IEX) last released its earnings results on Thursday, July 25th. The industrial products company reported $1.50 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.49 by $0.01. IDEX had a net margin of 17.11% and a return on equity of 21.20%. The business had revenue of $642.10 million during the quarter, compared to analysts’ expectations of $655.87 million. During the same quarter last year, the company earned $1.40 earnings per share. The firm’s revenue was up 1.2% on a year-over-year basis. As a group, sell-side analysts predict that IDEX Co. will post 5.81 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Wednesday, October 16th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.26%. The ex-dividend date of this dividend is Tuesday, October 15th. IDEX’s dividend payout ratio (DPR) is presently 36.97%.
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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