Edgestream Partners L.P. Buys 12,081 Shares of IDEX Corporation (NYSE:IEX)

Edgestream Partners L.P. raised its position in IDEX Corporation (NYSE:IEX) by 798.0% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 13,595 shares of the industrial products company’s stock after buying an additional 12,081 shares during the period. Edgestream Partners L.P.’s holdings in IDEX were worth $2,460,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. grew its holdings in IDEX by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 9,306,008 shares of the industrial products company’s stock worth $1,947,654,000 after purchasing an additional 63,432 shares during the period. Wellington Management Group LLP raised its holdings in shares of IDEX by 49.1% during the 4th quarter. Wellington Management Group LLP now owns 4,219,596 shares of the industrial products company’s stock worth $883,119,000 after acquiring an additional 1,388,667 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in IDEX by 8.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,666,777 shares of the industrial products company’s stock worth $767,421,000 after purchasing an additional 277,964 shares during the period. Impax Asset Management Group plc increased its position in shares of IDEX by 11.5% during the first quarter. Impax Asset Management Group plc now owns 2,006,724 shares of the industrial products company’s stock worth $363,157,000 after acquiring an additional 207,172 shares during the period. Finally, Geode Capital Management LLC lifted its stake in shares of IDEX by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 1,912,933 shares of the industrial products company’s stock worth $399,350,000 after purchasing an additional 21,758 shares during the last quarter. 97.96% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other IDEX news, CFO Akhil Mahendra sold 250 shares of the business’s stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $180.89, for a total value of $45,222.50. Following the completion of the sale, the chief financial officer owned 5,035 shares in the company, valued at approximately $910,781.15. The trade was a 4.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Stifel Nicolaus increased their price target on shares of IDEX from $192.00 to $208.00 and gave the stock a “buy” rating in a report on Friday, May 2nd. Robert W. Baird set a $215.00 target price on shares of IDEX in a research note on Friday, May 2nd. Mizuho set a $185.00 price objective on shares of IDEX in a report on Friday, May 16th. Royal Bank Of Canada upped their price objective on IDEX from $206.00 to $208.00 and gave the company an “outperform” rating in a research note on Friday, May 2nd. Finally, Citigroup upped their price target on shares of IDEX from $208.00 to $216.00 and gave the stock a “buy” rating in a research note on Monday. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, IDEX currently has a consensus rating of “Moderate Buy” and an average price target of $214.38.

IDEX Stock Up 2.3%

IDEX stock opened at $183.94 on Friday. The firm has a market capitalization of $13.89 billion, a price-to-earnings ratio of 29.15, a PEG ratio of 1.82 and a beta of 1.04. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.79 and a quick ratio of 1.99. The company’s 50 day simple moving average is $181.37 and its 200 day simple moving average is $187.53. IDEX Corporation has a fifty-two week low of $153.36 and a fifty-two week high of $238.22.

IDEX (NYSE:IEX) last announced its earnings results on Thursday, May 1st. The industrial products company reported $1.75 earnings per share for the quarter, topping analysts’ consensus estimates of $1.64 by $0.11. The company had revenue of $814.30 million for the quarter, compared to analyst estimates of $807.25 million. IDEX had a return on equity of 15.51% and a net margin of 14.60%. The firm’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.88 earnings per share. As a group, sell-side analysts anticipate that IDEX Corporation will post 8.26 EPS for the current year.

IDEX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Friday, July 11th will be given a dividend of $0.71 per share. The ex-dividend date is Friday, July 11th. This represents a $2.84 dividend on an annualized basis and a yield of 1.54%. IDEX’s dividend payout ratio is presently 45.01%.

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.