IDEX Corporation $IEX Stock Purchased by Machina Capital S.A.S.

Machina Capital S.A.S. lifted its position in IDEX Corporation (NYSE:IEX) by 100.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,389 shares of the industrial products company’s stock after buying an additional 8,711 shares during the period. Machina Capital S.A.S.’s holdings in IDEX were worth $3,964,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of IEX. BlackRock Inc. purchased a new stake in IDEX during the second quarter valued at $1,301,393,000. Primecap Management Co. CA bought a new position in IDEX in the second quarter valued at about $748,951,000. Amundi lifted its holdings in IDEX by 19.6% in the second quarter. Amundi now owns 1,458,979 shares of the industrial products company’s stock valued at $331,017,000 after acquiring an additional 239,579 shares during the period. Alyeska Investment Group L.P. lifted its holdings in IDEX by 101.4% in the second quarter. Alyeska Investment Group L.P. now owns 1,042,703 shares of the industrial products company’s stock valued at $236,641,000 after acquiring an additional 525,048 shares during the period. Finally, Bank of America Corp DE boosted its position in IDEX by 215.0% in the first quarter. Bank of America Corp DE now owns 1,094,101 shares of the industrial products company’s stock worth $207,387,000 after purchasing an additional 746,732 shares during the last quarter. 97.96% of the stock is currently owned by hedge funds and other institutional investors.

IDEX Trading Up 1.3%

NYSE:IEX opened at $239.93 on Thursday. IDEX Corporation has a one year low of $160.60 and a one year high of $243.80. The business has a fifty day moving average price of $230.52 and a 200-day moving average price of $217.53. The firm has a market capitalization of $17.62 billion, a price-to-earnings ratio of 33.32, a price-to-earnings-growth ratio of 2.65 and a beta of 0.95. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.78 and a quick ratio of 1.95.

IDEX (NYSE:IEX) last released its earnings results on Wednesday, October 28th. The industrial products company reported $2.33 earnings per share for the quarter, beating the consensus estimate of $2.24 by $0.09. IDEX had a return on equity of 16.18% and a net margin of 14.65%. The company had revenue of $951.70 million for the quarter, compared to the consensus estimate of $934.36 million. During the same period in the previous year, the business earned $2.03 earnings per share. IDEX’s quarterly revenue was up 8.3% compared to the same quarter last year. Sell-side analysts forecast that IDEX Corporation will post 8.95 EPS for the current year.

IDEX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 27th. Stockholders of record on Wednesday, January 13th will be paid a $0.73 dividend. The ex-dividend date of this dividend is Wednesday, January 13th. This represents a $2.92 annualized dividend and a dividend yield of 1.2%. IDEX’s dividend payout ratio (DPR) is 40.56%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on IEX shares. Oppenheimer boosted their price target on IDEX from $275.00 to $280.00 and gave the company an “outperform” rating in a research note on Thursday, October 29th. KeyCorp upgraded shares of IDEX to a “hold” rating in a research note on Monday, October 12th. Stifel Nicolaus increased their price objective on shares of IDEX from $267.00 to $273.00 and gave the stock a “buy” rating in a research note on Thursday, October 29th. Mizuho raised shares of IDEX from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $210.00 to $280.00 in a report on Tuesday, August 11th. Finally, TD Cowen boosted their target price on shares of IDEX from $260.00 to $275.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Nine investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $263.64.

About IDEX

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.