Checchi Capital Advisers LLC purchased a new position in IDEX Co. (NYSE:IEX) during the third quarter, Holdings Channel reports. The institutional investor purchased 1,452 shares of the industrial products company’s stock, valued at approximately $219,000.
Other large investors have also recently modified their holdings of the company. Capital Fund Management S.A. acquired a new stake in shares of IDEX in the second quarter worth approximately $3,508,000. Swiss National Bank boosted its stake in shares of IDEX by 3.5% in the second quarter. Swiss National Bank now owns 252,800 shares of the industrial products company’s stock worth $34,502,000 after acquiring an additional 8,600 shares during the last quarter. Andra AP fonden acquired a new stake in shares of IDEX in the second quarter worth approximately $3,699,000. GAM Holding AG acquired a new stake in shares of IDEX in the second quarter worth approximately $344,000. Finally, Qube Research & Technologies Ltd acquired a new stake in shares of IDEX in the second quarter worth approximately $155,000. 94.97% of the stock is currently owned by hedge funds and other institutional investors.
In other IDEX news, VP Michael J. Yates sold 3,143 shares of IDEX stock in a transaction on Monday, August 27th. The stock was sold at an average price of $153.00, for a total value of $480,879.00. Following the sale, the vice president now owns 29,715 shares in the company, valued at $4,546,395. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Michael J. Yates sold 5,804 shares of IDEX stock in a transaction on Tuesday, August 7th. The shares were sold at an average price of $154.13, for a total value of $894,570.52. Following the completion of the sale, the vice president now owns 32,376 shares in the company, valued at approximately $4,990,112.88. The disclosure for this sale can be found here. Insiders have sold 15,316 shares of company stock worth $2,350,746 in the last three months. 1.20% of the stock is currently owned by corporate insiders.
IDEX (NYSE:IEX) last released its quarterly earnings data on Tuesday, October 23rd. The industrial products company reported $1.41 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.31 by $0.10. The company had revenue of $623.00 million for the quarter, compared to analyst estimates of $613.94 million. IDEX had a return on equity of 20.40% and a net margin of 16.54%. The firm’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.08 earnings per share. Equities analysts anticipate that IDEX Co. will post 5.36 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 31st. Shareholders of record on Tuesday, October 16th will be paid a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date of this dividend is Monday, October 15th. IDEX’s dividend payout ratio (DPR) is currently 39.91%.
A number of analysts have recently issued reports on the company. Zacks Investment Research raised IDEX from a “hold” rating to a “buy” rating and set a $168.00 price target on the stock in a research note on Monday, July 30th. Robert W. Baird lowered their price target on IDEX from $145.00 to $139.00 and set an “outperform” rating on the stock in a research note on Thursday, October 25th. Oppenheimer reissued a “hold” rating on shares of IDEX in a research note on Wednesday, July 25th. Wells Fargo & Co reissued a “buy” rating and set a $170.00 price objective (up previously from $165.00) on shares of IDEX in a research note on Wednesday, July 25th. Finally, UBS Group set a $142.00 price objective on IDEX and gave the stock a “hold” rating in a research note on Friday, October 26th. Eight analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $145.55.
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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