Resona Asset Management Co. Ltd. Trims Position in IDEX Corporation $IEX

Resona Asset Management Co. Ltd. trimmed its position in IDEX Corporation (NYSE:IEX) by 9.9% during the third quarter, HoldingsChannel reports. The institutional investor owned 24,184 shares of the industrial products company’s stock after selling 2,653 shares during the period. Resona Asset Management Co. Ltd.’s holdings in IDEX were worth $3,934,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Capital A Wealth Management LLC purchased a new position in IDEX during the second quarter valued at approximately $28,000. Loomis Sayles & Co. L P purchased a new position in shares of IDEX during the 2nd quarter valued at $33,000. CYBER HORNET ETFs LLC bought a new stake in IDEX during the second quarter valued at $35,000. MUFG Securities EMEA plc purchased a new stake in shares of IDEX in the 2nd quarter valued at about $39,000. Finally, Central Pacific Bank Trust Division bought a new stake in shares of IDEX during the 3rd quarter valued at about $45,000. 97.96% of the stock is currently owned by institutional investors.

IDEX Stock Up 0.8%

Shares of NYSE:IEX opened at $196.34 on Thursday. The company has a current ratio of 2.93, a quick ratio of 2.06 and a debt-to-equity ratio of 0.47. IDEX Corporation has a 12-month low of $153.36 and a 12-month high of $226.04. The stock’s 50-day moving average price is $181.83 and its 200-day moving average price is $172.07. The stock has a market capitalization of $14.70 billion, a P/E ratio of 31.07, a price-to-earnings-growth ratio of 1.95 and a beta of 1.00.

IDEX (NYSE:IEX) last announced its quarterly earnings results on Wednesday, October 29th. The industrial products company reported $2.03 earnings per share for the quarter, beating the consensus estimate of $1.93 by $0.10. IDEX had a net margin of 13.97% and a return on equity of 15.20%. The business had revenue of $878.70 million during the quarter, compared to analysts’ expectations of $861.44 million. During the same quarter in the prior year, the company posted $1.90 EPS. The firm’s revenue for the quarter was up 10.1% compared to the same quarter last year. On average, equities analysts anticipate that IDEX Corporation will post 8.26 earnings per share for the current year.

IDEX Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 30th. Investors of record on Friday, January 16th will be paid a $0.71 dividend. The ex-dividend date of this dividend is Friday, January 16th. This represents a $2.84 annualized dividend and a dividend yield of 1.4%. IDEX’s dividend payout ratio (DPR) is presently 44.94%.

Wall Street Analyst Weigh In

IEX has been the subject of a number of research reports. Stifel Nicolaus boosted their price target on shares of IDEX from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Friday, January 23rd. Royal Bank Of Canada reiterated an “outperform” rating and issued a $211.00 target price on shares of IDEX in a research report on Thursday, January 15th. Citigroup raised their price target on IDEX from $197.00 to $202.00 and gave the company a “buy” rating in a research report on Monday, December 8th. Oppenheimer set a $210.00 price target on IDEX in a research note on Tuesday, October 7th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of IDEX in a research report on Wednesday, October 8th. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, IDEX currently has an average rating of “Moderate Buy” and a consensus target price of $203.29.

IDEX Profile

IDEX Corporation is a diversified industrial manufacturer specializing in the design, production and distribution of highly engineered fluidics systems, measurement technologies and safety solutions. The company’s core offerings include positive-displacement pumps, flow meters, valves, sampling systems and analytical instruments that serve a wide range of end markets such as water treatment, chemical processing, energy, food and beverage, and life sciences. Through its focus on precision engineering and proprietary material science, IDEX delivers products designed for reliability in demanding applications.

Operations at IDEX are organized into three principal segments.