Meeder Asset Management Inc. purchased a new position in shares of IDEX Co. (NYSE:IEX) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 422 shares of the industrial products company’s stock, valued at approximately $53,000.
Other institutional investors have also recently added to or reduced their stakes in the company. DNB Asset Management AS grew its position in IDEX by 21.1% in the 4th quarter. DNB Asset Management AS now owns 16,069 shares of the industrial products company’s stock valued at $2,029,000 after purchasing an additional 2,804 shares during the period. First Hawaiian Bank purchased a new position in IDEX during the 3rd quarter worth $120,000. Morgan Stanley raised its stake in shares of IDEX by 32.8% during the 3rd quarter. Morgan Stanley now owns 326,434 shares of the industrial products company’s stock worth $49,181,000 after purchasing an additional 80,558 shares during the period. FMR LLC raised its stake in shares of IDEX by 6.9% during the 3rd quarter. FMR LLC now owns 1,112,161 shares of the industrial products company’s stock worth $167,559,000 after purchasing an additional 71,693 shares during the period. Finally, Capital International Sarl raised its stake in shares of IDEX by 25.0% during the 3rd quarter. Capital International Sarl now owns 10,512 shares of the industrial products company’s stock worth $1,584,000 after purchasing an additional 2,100 shares during the period. Hedge funds and other institutional investors own 94.40% of the company’s stock.
Shares of NYSE IEX opened at $141.97 on Thursday. The company has a quick ratio of 2.23, a current ratio of 3.00 and a debt-to-equity ratio of 0.43. The stock has a market cap of $10.77 billion, a PE ratio of 26.24, a price-to-earnings-growth ratio of 2.38 and a beta of 1.27. IDEX Co. has a 12 month low of $117.72 and a 12 month high of $157.84.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 30th. Investors of record on Tuesday, January 15th were given a dividend of $0.43 per share. The ex-dividend date of this dividend was Monday, January 14th. This represents a $1.72 annualized dividend and a dividend yield of 1.21%. IDEX’s dividend payout ratio (DPR) is presently 31.79%.
A number of equities research analysts have recently commented on the company. Zacks Investment Research upgraded IDEX from a “hold” rating to a “buy” rating and set a $152.00 target price on the stock in a research note on Friday, November 16th. Royal Bank of Canada upgraded IDEX from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from $141.00 to $146.00 in a research note on Thursday, January 3rd. Janney Montgomery Scott upgraded IDEX from a “neutral” rating to a “buy” rating and set a $149.00 price objective on the stock in a research note on Thursday, October 25th. Robert W. Baird lowered their price objective on IDEX from $145.00 to $139.00 and set an “outperform” rating on the stock in a research note on Thursday, October 25th. Finally, UBS Group set a $142.00 price objective on IDEX and gave the company a “hold” rating in a research note on Friday, October 26th. Eight research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $145.70.
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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