Robeco Institutional Asset Management B.V. lifted its stake in IDEX Co. (NYSE:IEX) by 3.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 204,944 shares of the industrial products company’s stock after purchasing an additional 6,236 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in IDEX were worth $30,878,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds also recently modified their holdings of the company. Capital Fund Management S.A. bought a new stake in shares of IDEX in the 2nd quarter worth approximately $3,508,000. Swiss National Bank boosted its position in shares of IDEX by 3.5% in the 2nd quarter. Swiss National Bank now owns 252,800 shares of the industrial products company’s stock worth $34,502,000 after purchasing an additional 8,600 shares in the last quarter. Andra AP fonden bought a new stake in shares of IDEX in the 2nd quarter worth approximately $3,699,000. GAM Holding AG bought a new stake in shares of IDEX in the 2nd quarter worth approximately $344,000. Finally, Qube Research & Technologies Ltd bought a new stake in shares of IDEX in the 2nd quarter worth approximately $155,000. 94.97% of the stock is currently owned by hedge funds and other institutional investors.
IEX has been the topic of a number of analyst reports. Zacks Investment Research cut IDEX from a “buy” rating to a “hold” rating in a research report on Tuesday, July 3rd. Royal Bank of Canada reaffirmed a “hold” rating and issued a $144.00 price objective on shares of IDEX in a research report on Friday, July 13th. Robert W. Baird reaffirmed a “buy” rating and issued a $143.00 price objective on shares of IDEX in a research report on Friday, July 20th. Cowen reaffirmed a “hold” rating and issued a $130.00 price objective on shares of IDEX in a research report on Tuesday, July 24th. Finally, Oppenheimer reaffirmed a “hold” rating on shares of IDEX in a research report on Wednesday, July 25th. Eight research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. IDEX has an average rating of “Hold” and a consensus target price of $145.55.
IDEX (NYSE:IEX) last released its quarterly earnings data on Tuesday, October 23rd. The industrial products company reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.10. The business had revenue of $623.00 million for the quarter, compared to analysts’ expectations of $613.94 million. IDEX had a return on equity of 20.40% and a net margin of 16.54%. The firm’s quarterly revenue was up 8.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.08 EPS. As a group, analysts forecast that IDEX Co. will post 5.36 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 31st. Investors of record on Tuesday, October 16th will be given a $0.43 dividend. The ex-dividend date of this dividend is Monday, October 15th. This represents a $1.72 annualized dividend and a yield of 1.35%. IDEX’s dividend payout ratio (DPR) is presently 39.91%.
In other news, Director William M. Cook sold 1,933 shares of the stock in a transaction on Monday, August 6th. The stock was sold at an average price of $152.06, for a total transaction of $293,931.98. Following the transaction, the director now directly owns 17,288 shares of the company’s stock, valued at approximately $2,628,813.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Michael J. Yates sold 1,030 shares of the stock in a transaction on Wednesday, August 29th. The shares were sold at an average price of $155.91, for a total value of $160,587.30. Following the transaction, the vice president now directly owns 27,602 shares in the company, valued at $4,303,427.82. The disclosure for this sale can be found here. Insiders have sold a total of 22,792 shares of company stock worth $3,498,910 over the last three months. Insiders own 1.20% of the company’s stock.
IDEX Company Profile
IDEX Corporation, through its subsidiaries, provides various pumps, valves, flow meters, other fluidics systems and components, and engineered products worldwide. Its Fluid & Metering Technologies segment designs, produces, and distributes positive displacement pumps, flow meters, injectors, other fluid-handling pump modules and systems, and specialty valve products, as well as offers flow monitoring and other services for food, chemical, general industrial, water and wastewater, agricultural, and energy industries.
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