Great West Life Assurance Co. Can lessened its holdings in shares of IDEX Co. (NYSE:IEX) by 1.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 71,931 shares of the industrial products company’s stock after selling 885 shares during the period. Great West Life Assurance Co. Can owned 0.09% of IDEX worth $8,781,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in the stock. BlackRock Inc. boosted its stake in IDEX by 8.8% in the 2nd quarter. BlackRock Inc. now owns 6,993,420 shares of the industrial products company’s stock worth $790,326,000 after purchasing an additional 568,369 shares in the last quarter. Vanguard Group Inc. boosted its stake in IDEX by 2.1% in the 2nd quarter. Vanguard Group Inc. now owns 6,380,482 shares of the industrial products company’s stock worth $721,058,000 after purchasing an additional 134,086 shares in the last quarter. Capital World Investors boosted its stake in IDEX by 0.4% in the 2nd quarter. Capital World Investors now owns 5,989,771 shares of the industrial products company’s stock worth $676,904,000 after purchasing an additional 24,401 shares in the last quarter. State Street Corp boosted its stake in IDEX by 20.6% in the 2nd quarter. State Street Corp now owns 2,396,039 shares of the industrial products company’s stock worth $270,781,000 after purchasing an additional 409,654 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its stake in IDEX by 5.4% in the 2nd quarter. Alliancebernstein L.P. now owns 1,801,923 shares of the industrial products company’s stock worth $203,635,000 after purchasing an additional 92,345 shares in the last quarter. Institutional investors own 97.02% of the company’s stock.
A number of equities analysts have weighed in on the company. SunTrust Banks reissued a “hold” rating and issued a $118.00 target price on shares of IDEX in a research report on Tuesday, October 17th. They noted that the move was a valuation call. Seaport Global Securities reissued a “neutral” rating on shares of IDEX in a research report on Wednesday, October 18th. Robert W. Baird reissued a “buy” rating on shares of IDEX in a research report on Friday, October 20th. Zacks Investment Research raised IDEX from a “hold” rating to a “buy” rating and set a $139.00 target price for the company in a research report on Thursday, October 5th. Finally, Royal Bank Of Canada boosted their target price on IDEX from $124.00 to $126.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 18th. Eleven investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. IDEX currently has an average rating of “Hold” and an average target price of $113.78.
IDEX (NYSE:IEX) last released its quarterly earnings results on Monday, October 16th. The industrial products company reported $1.08 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.06 by $0.02. IDEX had a net margin of 13.48% and a return on equity of 19.07%. The firm had revenue of $574.50 million during the quarter, compared to analyst estimates of $563.23 million. During the same quarter in the prior year, the firm earned $0.92 EPS. The business’s revenue for the quarter was up 8.3% compared to the same quarter last year. sell-side analysts anticipate that IDEX Co. will post 4.26 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 30th. Stockholders of record on Monday, January 15th will be given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 1.11%. The ex-dividend date of this dividend is Thursday, January 11th. IDEX’s payout ratio is currently 37.95%.
IDEX Corporation (IDEX) operates an applied solutions business that sells pumps, flow meters and other fluidics systems, and components and engineered products. The Company operates through three segments: Fluid & Metering Technologies (FMT), Health & Science Technologies (HST) and Fire & Safety/Diversified Products (FSDP).
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