IDEX Co. (NYSE:IEX) Shares Acquired by Quantbot Technologies LP

Quantbot Technologies LP boosted its stake in IDEX Co. (NYSE:IEX) by 316.0% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 25,903 shares of the industrial products company’s stock after acquiring an additional 19,677 shares during the period. Quantbot Technologies LP’s holdings in IDEX were worth $5,212,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Riverview Trust Co purchased a new position in shares of IDEX in the 1st quarter valued at about $35,000. Quarry LP acquired a new stake in shares of IDEX during the 4th quarter valued at approximately $36,000. EdgeRock Capital LLC purchased a new stake in shares of IDEX during the 2nd quarter worth approximately $41,000. Whittier Trust Co. grew its holdings in shares of IDEX by 38.4% in the 2nd quarter. Whittier Trust Co. now owns 209 shares of the industrial products company’s stock worth $42,000 after acquiring an additional 58 shares during the period. Finally, UMB Bank n.a. increased its stake in IDEX by 31.0% in the 2nd quarter. UMB Bank n.a. now owns 241 shares of the industrial products company’s stock valued at $48,000 after purchasing an additional 57 shares in the last quarter. 97.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on IEX shares. Robert W. Baird lowered their target price on IDEX from $256.00 to $241.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. Royal Bank of Canada reduced their target price on shares of IDEX from $250.00 to $236.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. DA Davidson lowered their price target on shares of IDEX from $220.00 to $210.00 and set a “neutral” rating for the company in a report on Monday, August 5th. Stifel Nicolaus reduced their price objective on shares of IDEX from $265.00 to $236.00 and set a “buy” rating on the stock in a research note on Thursday, July 18th. Finally, StockNews.com cut shares of IDEX from a “buy” rating to a “hold” rating in a research note on Thursday, July 11th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, IDEX presently has a consensus rating of “Moderate Buy” and a consensus target price of $233.50.

IDEX Stock Performance

Shares of NYSE:IEX opened at $199.78 on Monday. The firm has a market capitalization of $15.12 billion, a PE ratio of 26.29, a P/E/G ratio of 2.09 and a beta of 0.95. IDEX Co. has a 12 month low of $183.76 and a 12 month high of $246.36. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.41 and a quick ratio of 2.52. The business has a 50-day moving average of $200.32 and a two-hundred day moving average of $214.56.

IDEX (NYSE:IEX) last issued its earnings results on Wednesday, July 31st. The industrial products company reported $2.06 EPS for the quarter, beating analysts’ consensus estimates of $2.04 by $0.02. IDEX had a net margin of 18.19% and a return on equity of 16.87%. The business had revenue of $807.20 million for the quarter, compared to the consensus estimate of $828.15 million. During the same quarter last year, the firm posted $2.18 EPS. The business’s revenue for the quarter was down 4.6% compared to the same quarter last year. As a group, research analysts forecast that IDEX Co. will post 7.88 earnings per share for the current year.

IDEX Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, July 26th. Investors of record on Friday, July 12th were issued a dividend of $0.69 per share. The ex-dividend date of this dividend was Friday, July 12th. This represents a $2.76 annualized dividend and a dividend yield of 1.38%. IDEX’s payout ratio is currently 36.32%.

IDEX Company 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.