Gulf International Bank UK Ltd lifted its holdings in shares of IDEX Co. (NYSE:IEX) by 8.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,931 shares of the industrial products company’s stock after buying an additional 1,440 shares during the period. Gulf International Bank UK Ltd’s holdings in IDEX were worth $2,720,000 at the end of the most recent quarter.
Other institutional investors have also bought and sold shares of the company. Quantamental Technologies LLC acquired a new position in shares of IDEX during the 4th quarter worth about $25,000. Lindbrook Capital LLC bought a new stake in shares of IDEX in the 4th quarter valued at about $32,000. Essex Investment Management Co. LLC bought a new stake in shares of IDEX in the 4th quarter valued at about $33,000. JOYN Advisors Inc. raised its holdings in shares of IDEX by 51.4% in the 4th quarter. JOYN Advisors Inc. now owns 265 shares of the industrial products company’s stock valued at $33,000 after purchasing an additional 90 shares during the period. Finally, Penserra Capital Management LLC bought a new stake in shares of IDEX in the 4th quarter valued at about $35,000. Institutional investors own 94.63% of the company’s stock.
IEX has been the topic of a number of research analyst reports. Zacks Investment Research reaffirmed a “buy” rating and issued a $141.00 target price on shares of IDEX in a report on Monday, December 31st. Royal Bank of Canada raised shares of IDEX from a “sector perform” rating to an “outperform” rating and upped their target price for the company from $141.00 to $146.00 in a report on Thursday, January 3rd. Boenning Scattergood reaffirmed a “hold” rating on shares of IDEX in a report on Wednesday, January 30th. Janney Montgomery Scott cut shares of IDEX from a “buy” rating to a “neutral” rating in a report on Friday, March 29th. Finally, Stifel Nicolaus upped their target price on shares of IDEX from $129.00 to $153.00 and gave the company a “hold” rating in a report on Tuesday, April 16th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the stock. IDEX currently has a consensus rating of “Hold” and a consensus price target of $146.67.
IDEX (NYSE:IEX) last released its quarterly earnings results on Tuesday, January 29th. The industrial products company reported $1.31 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.27 by $0.04. The firm had revenue of $614.09 million for the quarter, compared to analysts’ expectations of $617.72 million. IDEX had a net margin of 16.53% and a return on equity of 20.82%. The business’s revenue was up 4.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.12 EPS. As a group, equities analysts forecast that IDEX Co. will post 5.73 earnings per share for the current fiscal year.
In other IDEX news, VP Michael J. Yates sold 11,397 shares of the stock in a transaction dated Wednesday, February 27th. The shares were sold at an average price of $144.72, for a total value of $1,649,373.84. Following the transaction, the vice president now directly owns 26,590 shares of the company’s stock, valued at approximately $3,848,104.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Jeffrey D. Bucklew sold 2,255 shares of the stock in a transaction dated Friday, February 15th. The shares were sold at an average price of $143.02, for a total transaction of $322,510.10. Following the completion of the transaction, the senior vice president now directly owns 2,255 shares in the company, valued at $322,510.10. The disclosure for this sale can be found here. 1.20% of the stock is owned by corporate insiders.
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IDEX Company Profile
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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