Commerce Bank reduced its stake in IDEX Co. (NYSE:IEX) by 74.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 7,648 shares of the industrial products company’s stock after selling 22,251 shares during the quarter. Commerce Bank’s holdings in IDEX were worth $1,395,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of the company. Newfound Research LLC acquired a new stake in IDEX during the 3rd quarter worth approximately $31,000. Cerebellum GP LLC acquired a new stake in IDEX during the 2nd quarter worth approximately $36,000. Carroll Financial Associates Inc. lifted its holdings in IDEX by 4,033.3% during the 3rd quarter. Carroll Financial Associates Inc. now owns 248 shares of the industrial products company’s stock worth $45,000 after buying an additional 242 shares in the last quarter. Citizens Financial Group Inc RI lifted its holdings in IDEX by 131.5% during the 2nd quarter. Citizens Financial Group Inc RI now owns 419 shares of the industrial products company’s stock worth $66,000 after buying an additional 238 shares in the last quarter. Finally, Fifth Third Bancorp lifted its holdings in IDEX by 24.3% during the 2nd quarter. Fifth Third Bancorp now owns 1,063 shares of the industrial products company’s stock worth $168,000 after buying an additional 208 shares in the last quarter. Hedge funds and other institutional investors own 97.01% of the company’s stock.
In other IDEX news, CEO Andrew K. Silvernail sold 152,450 shares of the firm’s stock in a transaction on Monday, November 9th. The shares were sold at an average price of $189.66, for a total transaction of $28,913,667.00. Following the transaction, the chief executive officer now directly owns 50,693 shares of the company’s stock, valued at approximately $9,614,434.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Andrew K. Silvernail sold 122,426 shares of the firm’s stock in a transaction on Thursday, October 29th. The stock was sold at an average price of $169.81, for a total transaction of $20,789,159.06. Following the transaction, the chief executive officer now directly owns 271,524 shares in the company, valued at $46,107,490.44. The disclosure for this sale can be found here. Insiders sold a total of 297,209 shares of company stock worth $53,719,626 over the last ninety days. Insiders own 1.10% of the company’s stock.
NYSE IEX opened at $197.46 on Thursday. The company has a debt-to-equity ratio of 0.44, a current ratio of 3.71 and a quick ratio of 2.97. The firm’s fifty day moving average price is $185.91 and its 200 day moving average price is $170.55. The company has a market capitalization of $14.95 billion, a price-to-earnings ratio of 40.38, a price-to-earnings-growth ratio of 3.43 and a beta of 1.07. IDEX Co. has a 12 month low of $104.56 and a 12 month high of $199.50.
IDEX (NYSE:IEX) last posted its earnings results on Tuesday, October 27th. The industrial products company reported $1.40 EPS for the quarter, beating the Zacks’ consensus estimate of $1.20 by $0.20. IDEX had a net margin of 15.94% and a return on equity of 17.21%. As a group, sell-side analysts forecast that IDEX Co. will post 5.15 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, January 29th. Investors of record on Thursday, January 14th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date is Wednesday, January 13th. IDEX’s dividend payout ratio (DPR) is 34.48%.
IEX has been the topic of a number of research reports. Rosenblatt Securities increased their target price on shares of IDEX from $178.00 to $200.00 and gave the stock a “buy” rating in a report on Tuesday, September 22nd. Wells Fargo & Company raised their price objective on shares of IDEX from $200.00 to $215.00 and gave the company an “overweight” rating in a report on Monday, July 27th. Boenning Scattergood upgraded shares of IDEX from a “neutral” rating to an “outperform” rating in a report on Friday, July 24th. Stifel Nicolaus raised their price objective on shares of IDEX from $172.00 to $195.00 and gave the company a “buy” rating in a report on Monday, July 27th. Finally, Zacks Investment Research upgraded shares of IDEX from a “sell” rating to a “hold” rating and set a $187.00 price objective on the stock in a report on Friday, September 25th. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $173.82.
IDEX Corporation, together with 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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