Eventide Asset Management LLC Buys 4,580 Shares of IDEX Co. (NYSE:IEX)

Eventide Asset Management LLC raised its holdings in shares of IDEX Co. (NYSE:IEX) by 6.8% during the 3rd quarter, HoldingsChannel reports. The fund owned 71,587 shares of the industrial products company’s stock after acquiring an additional 4,580 shares during the quarter. Eventide Asset Management LLC’s holdings in IDEX were worth $15,355,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also modified their holdings of the company. Tidal Investments LLC lifted its stake in shares of IDEX by 8.8% during the 1st quarter. Tidal Investments LLC now owns 4,383 shares of the industrial products company’s stock valued at $1,070,000 after buying an additional 356 shares in the last quarter. Virtu Financial LLC bought a new stake in shares of IDEX in the 1st quarter worth about $469,000. Swedbank AB bought a new stake in shares of IDEX in the 1st quarter worth about $11,765,000. Atria Investments Inc grew its holdings in IDEX by 4.5% during the 1st quarter. Atria Investments Inc now owns 7,599 shares of the industrial products company’s stock valued at $1,854,000 after purchasing an additional 324 shares during the last quarter. Finally, Cetera Investment Advisers grew its holdings in IDEX by 301.3% during the 1st quarter. Cetera Investment Advisers now owns 6,902 shares of the industrial products company’s stock valued at $1,684,000 after purchasing an additional 5,182 shares during the last quarter. Hedge funds and other institutional investors own 97.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on IEX shares. TD Cowen lowered their price objective on shares of IDEX from $240.00 to $230.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Oppenheimer dropped their price objective on shares of IDEX from $245.00 to $238.00 and set an “outperform” rating on the stock in a research note on Monday, August 5th. DA Davidson lowered their target price on shares of IDEX from $220.00 to $210.00 and set a “neutral” rating for the company in a research note on Monday, August 5th. Robert W. Baird lowered their target price on shares of IDEX from $245.00 to $241.00 and set an “outperform” rating for the company in a research note on Thursday, October 31st. Finally, Royal Bank of Canada raised their price target on shares of IDEX from $236.00 to $248.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $241.14.

IDEX Stock Down 0.4 %

IEX opened at $231.10 on Friday. IDEX Co. has a fifty-two week low of $189.51 and a fifty-two week high of $246.36. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.11 and a current ratio of 2.97. The company has a fifty day moving average of $216.81 and a two-hundred day moving average of $208.07. The stock has a market capitalization of $17.50 billion, a price-to-earnings ratio of 35.77, a PEG ratio of 2.44 and a beta of 0.96.

IDEX (NYSE:IEX) last released its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $1.90 earnings per share for the quarter, beating analysts’ consensus estimates of $1.89 by $0.01. IDEX had a net margin of 15.35% and a return on equity of 15.92%. The company had revenue of $798.20 million during the quarter, compared to analysts’ expectations of $793.05 million. During the same quarter in the previous year, the company earned $2.12 earnings per share. The firm’s revenue for the quarter was up .6% on a year-over-year basis. On average, research analysts expect that IDEX Co. will post 7.89 earnings per share for the current year.

IDEX Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 17th will be given a $0.69 dividend. The ex-dividend date is Friday, January 17th. This represents a $2.76 annualized dividend and a dividend yield of 1.19%. IDEX’s dividend payout ratio (DPR) is 42.72%.

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.