IDEX Co. (NYSE:IEX) Shares Acquired by Czech National Bank

Czech National Bank grew its holdings in IDEX Co. (NYSE:IEX) by 5.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 17,392 shares of the industrial products company’s stock after purchasing an additional 973 shares during the period. Czech National Bank’s holdings in IDEX were worth $3,147,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of IEX. Wellington Management Group LLP lifted its stake in shares of IDEX by 49.1% in the 4th quarter. Wellington Management Group LLP now owns 4,219,596 shares of the industrial products company’s stock valued at $883,119,000 after purchasing an additional 1,388,667 shares during the last quarter. Norges Bank acquired a new position in shares of IDEX in the 4th quarter valued at $217,658,000. Price T Rowe Associates Inc. MD lifted its stake in shares of IDEX by 8.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,666,777 shares of the industrial products company’s stock valued at $767,421,000 after purchasing an additional 277,964 shares during the last quarter. Allianz Asset Management GmbH lifted its stake in shares of IDEX by 133.2% in the 4th quarter. Allianz Asset Management GmbH now owns 406,637 shares of the industrial products company’s stock valued at $85,105,000 after purchasing an additional 232,255 shares during the last quarter. Finally, Corient Private Wealth LLC lifted its stake in shares of IDEX by 237.1% in the 4th quarter. Corient Private Wealth LLC now owns 256,769 shares of the industrial products company’s stock valued at $53,740,000 after purchasing an additional 180,601 shares during the last quarter. Institutional investors and hedge funds own 97.96% of the company’s stock.

Analyst Ratings Changes

IEX has been the topic of several research reports. Stifel Nicolaus increased their target price on IDEX from $192.00 to $208.00 and gave the stock a “buy” rating in a research note on Friday, May 2nd. Mizuho set a $185.00 target price on IDEX in a research note on Friday, May 16th. Royal Bank of Canada increased their target price on IDEX from $206.00 to $208.00 and gave the stock an “outperform” rating in a research note on Friday, May 2nd. DA Davidson decreased their target price on IDEX from $225.00 to $215.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 19th. Finally, Citigroup decreased their target price on IDEX from $264.00 to $201.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, IDEX presently has an average rating of “Moderate Buy” and a consensus target price of $212.50.

IDEX Price Performance

IEX stock opened at $181.05 on Thursday. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.53 and a quick ratio of 1.85. The firm has a market capitalization of $13.68 billion, a P/E ratio of 27.23, a P/E/G ratio of 1.98 and a beta of 1.06. The business’s 50-day moving average is $176.43 and its two-hundred day moving average is $196.90. IDEX Co. has a 1 year low of $153.36 and a 1 year high of $238.22.

IDEX (NYSE:IEX) last posted its quarterly earnings results on Thursday, May 1st. The industrial products company reported $1.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.64 by $0.11. The company had revenue of $814.30 million for the quarter, compared to analyst estimates of $807.25 million. IDEX had a return on equity of 16.08% and a net margin of 15.45%. IDEX’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.88 EPS. Analysts anticipate that IDEX Co. will post 8.26 earnings per share for the current fiscal year.

IDEX Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Monday, May 19th were issued a $0.71 dividend. The ex-dividend date of this dividend was Monday, May 19th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.57%. This is an increase from IDEX’s previous quarterly dividend of $0.69. IDEX’s dividend payout ratio is presently 45.01%.

IDEX Company Profile

IDEX Corporation, together with its subsidiaries, provides applied solutions 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, valves, small volume provers, flow meters, injectors, and other fluid-handling pump modules and systems, as well as flow monitoring and other services for the food, chemical, general industrial, water and wastewater, agricultural, and energy industries.