Pictet Asset Management Holding SA Sells 116,028 Shares of IDEX Corporation $IEX

Pictet Asset Management Holding SA lowered its stake in shares of IDEX Corporation (NYSE:IEX) by 9.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,142,448 shares of the industrial products company’s stock after selling 116,028 shares during the period. Pictet Asset Management Holding SA’s holdings in IDEX were worth $260,466,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Burkett Financial Services LLC purchased a new position in shares of IDEX in the 3rd quarter valued at $27,000. Optiver Holding B.V. bought a new position in shares of IDEX in the 1st quarter worth $27,000. Quantbot Technologies LP purchased a new stake in shares of IDEX during the 2nd quarter worth $33,000. Elevation Wealth Partners LLC lifted its stake in shares of IDEX by 42.7% during the 3rd quarter. Elevation Wealth Partners LLC now owns 147 shares of the industrial products company’s stock worth $34,000 after purchasing an additional 44 shares during the last quarter. Finally, Laurel Wealth Advisors LLC purchased a new stake in shares of IDEX during the 3rd quarter worth $34,000. Institutional investors own 97.96% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on IEX shares. Argus raised their price objective on IDEX from $250.00 to $260.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Weiss Ratings reiterated a “buy (b-)” rating on shares of IDEX in a report on Wednesday, October 28th. DA Davidson set a $245.00 price target on shares of IDEX in a research report on Thursday, October 29th. TD Cowen raised their price target on shares of IDEX from $260.00 to $275.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Finally, Mizuho raised shares of IDEX from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $210.00 to $280.00 in a research report on Tuesday, August 11th. Nine research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, IDEX has a consensus rating of “Moderate Buy” and an average target price of $263.64.

IDEX Stock Performance

Shares of IEX stock opened at $227.06 on Friday. The business’s fifty day simple moving average is $229.90 and its 200-day simple moving average is $216.92. The company has a market cap of $16.68 billion, a PE ratio of 31.54, a PEG ratio of 2.54 and a beta of 0.95. The company has a current ratio of 2.78, a quick ratio of 1.95 and a debt-to-equity ratio of 0.44. IDEX Corporation has a 12-month low of $160.60 and a 12-month high of $243.80.

IDEX (NYSE:IEX) last issued its quarterly earnings data on Wednesday, October 28th. The industrial products company reported $2.33 EPS for the quarter, beating the consensus estimate of $2.24 by $0.09. The firm had revenue of $951.70 million during the quarter, compared to analyst estimates of $934.36 million. IDEX had a return on equity of 16.18% and a net margin of 14.65%. The business’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.03 EPS. Analysts expect that IDEX Corporation will post 8.95 earnings per share for the current fiscal year.

IDEX Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 16th. Investors of record on Friday, October 2nd were given a dividend of $0.73 per share. This represents a $2.92 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend was Friday, October 2nd. IDEX’s dividend payout ratio is currently 40.56%.

Insider Buying and Selling

In other IDEX news, CAO Lisa Anderson sold 385 shares of the stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $238.59, for a total value of $91,857.15. Following the completion of the sale, the chief accounting officer directly owned 4,327 shares in the company, valued at approximately $1,032,378.93. This trade represents a 8.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.50% of the company’s stock.

IDEX Company Profile

IDEX Corporation is a diversified manufacturer of engineered products and technologies used in industrial, life sciences, fire and safety, and other specialized markets. Its offerings include pumps, valves, flow meters and dispensing equipment, as well as components and instruments used in fluidics, medical technology and scientific applications.

The company also supplies fire and rescue equipment, including tools and water-handling products. IDEX serves customers around the world through its operating businesses, which sell products for applications ranging from manufacturing and energy to healthcare and emergency response.

Founded in 1988, IDEX is headquartered in Northbrook, Illinois.