Checchi Capital Advisers LLC Invests $219,000 in IDEX Co. (IEX)

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.



NYSE IEX opened at $125.25 on Wednesday. The firm has a market cap of $9.77 billion, a price-to-earnings ratio of 23.95, a P/E/G ratio of 2.27 and a beta of 1.20. The company has a current ratio of 3.21, a quick ratio of 2.41 and a debt-to-equity ratio of 0.41. IDEX Co. has a fifty-two week low of $123.47 and a fifty-two week high of $157.84.

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 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.

See Also: Closed-End Mutual Funds

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Institutional Ownership by Quarter for IDEX (NYSE:IEX)

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