Metropolitan Life Insurance Co NY lessened its stake in shares of IDEX Co. (NYSE:IEX) by 47.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,139 shares of the industrial products company’s stock after selling 12,095 shares during the quarter. Metropolitan Life Insurance Co NY’s holdings in IDEX were worth $2,153,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in the stock. Squar Milner Financial Services LLC grew its holdings in shares of IDEX by 376.5% in the 3rd quarter. Squar Milner Financial Services LLC now owns 162 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 128 shares during the last quarter. Krane Funds Advisors LLC acquired a new position in shares of IDEX during the second quarter valued at $27,000. Cullen Frost Bankers Inc. bought a new position in IDEX in the second quarter valued at about $33,000. Cerebellum GP LLC bought a new position in IDEX in the third quarter valued at about $36,000. Finally, Global Retirement Partners LLC acquired a new stake in IDEX in the third quarter worth about $42,000. 97.31% of the stock is currently owned by institutional investors and hedge funds.
IEX has been the subject of a number of recent research reports. Citigroup assumed coverage on shares of IDEX in a research note on Monday, September 30th. They set a “neutral” rating and a $175.00 price target for the company. ValuEngine cut shares of IDEX from a “buy” rating to a “hold” rating in a research note on Tuesday, October 1st. Finally, Rosenblatt Securities initiated coverage on shares of IDEX in a research note on Thursday, November 7th. They issued a “buy” rating and a $185.00 price objective on the stock. Eight research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. IDEX presently has a consensus rating of “Hold” and an average target price of $175.57.
IDEX (NYSE:IEX) last issued its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $1.52 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.46 by $0.06. IDEX had a net margin of 17.05% and a return on equity of 21.28%. The firm had revenue of $624.20 million during the quarter, compared to analysts’ expectations of $641.66 million. During the same quarter in the previous year, the company earned $1.41 earnings per share. The business’s revenue for the quarter was up .2% on a year-over-year basis. Equities research analysts expect that IDEX Co. will post 5.82 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, January 30th. Investors of record on Wednesday, January 15th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date is Tuesday, January 14th. IDEX’s payout ratio is presently 36.97%.
In other IDEX news, SVP Daniel J. Salliotte sold 23,842 shares of the stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $161.62, for a total value of $3,853,344.04. Following the completion of the sale, the senior vice president now owns 30,358 shares in the company, valued at $4,906,459.96. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Michael J. Yates sold 14,871 shares of IDEX stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $162.76, for a total transaction of $2,420,403.96. Following the completion of the transaction, the chief accounting officer now directly owns 6,197 shares of the company’s stock, valued at approximately $1,008,623.72. The disclosure for this sale can be found here. Insiders sold 54,543 shares of company stock worth $8,833,294 over the last quarter. 1.20% of the stock is owned by corporate insiders.
IDEX Corporation, through its subsidiaries, operates as an applied solutions company 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, flow meters, injectors, and other fluid-handling pump modules and systems, as well as offers flow monitoring and other services for the food, chemical, general industrial, water and wastewater, agricultural, and energy industries.
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