Geode Capital Management LLC Increases Stock Holdings in IDEX Co. (NYSE:IEX)

Geode Capital Management LLC increased its stake in shares of IDEX Co. (NYSE:IEX) by 1.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,891,175 shares of the industrial products company’s stock after buying an additional 23,388 shares during the quarter. Geode Capital Management LLC’s holdings in IDEX were worth $404,339,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Catalyst Capital Advisors LLC grew its stake in shares of IDEX by 73.8% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 139 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 59 shares in the last quarter. Assetmark Inc. bought a new stake in IDEX in the 3rd quarter worth about $39,000. EdgeRock Capital LLC purchased a new stake in IDEX in the 2nd quarter valued at about $41,000. Whittier Trust Co. lifted its position in shares of IDEX by 38.4% during the 2nd quarter. Whittier Trust Co. now owns 209 shares of the industrial products company’s stock worth $42,000 after buying an additional 58 shares in the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt boosted its stake in shares of IDEX by 100.0% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 200 shares of the industrial products company’s stock worth $43,000 after buying an additional 100 shares during the last quarter. 97.96% of the stock is owned by hedge funds and other institutional investors.

IDEX Stock Down 0.9 %

IEX stock opened at $223.00 on Friday. The stock has a fifty day moving average of $220.89 and a 200-day moving average of $208.87. IDEX Co. has a fifty-two week low of $189.51 and a fifty-two week high of $246.36. The company has a market capitalization of $16.89 billion, a price-to-earnings ratio of 34.52, a PEG ratio of 2.41 and a beta of 0.96. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.11 and a current ratio of 2.97.

IDEX (NYSE:IEX) last issued its earnings results on Tuesday, October 29th. The industrial products company reported $1.90 earnings per share for the quarter, topping analysts’ consensus estimates of $1.89 by $0.01. IDEX had a net margin of 15.35% and a return on equity of 15.92%. The firm had revenue of $798.20 million during the quarter, compared to analyst estimates of $793.05 million. During the same quarter last year, the business earned $2.12 earnings per share. The company’s quarterly revenue was up .6% on a year-over-year basis. As a group, equities research analysts predict that IDEX Co. will post 7.89 earnings per share for the current year.

IDEX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 17th will be issued a dividend of $0.69 per share. The ex-dividend date is Friday, January 17th. This represents a $2.76 dividend on an annualized basis and a yield of 1.24%. IDEX’s payout ratio is 42.72%.

Wall Street Analyst Weigh In

A number of analysts recently commented on IEX shares. Robert W. Baird decreased their price target on IDEX from $245.00 to $241.00 and set an “outperform” rating for the company in a research report on Thursday, October 31st. Stifel Nicolaus raised their target price on IDEX from $244.00 to $256.00 and gave the company a “buy” rating in a research report on Wednesday. Royal Bank of Canada boosted their price target on shares of IDEX from $248.00 to $258.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Finally, Citigroup raised their price objective on shares of IDEX from $251.00 to $269.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, IDEX currently has a consensus rating of “Moderate Buy” and a consensus target price of $243.14.

About IDEX

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.