Eagle Asset Management Inc. Has $12.44 Million Position in IDEX Co. (NYSE:IEX)

Eagle Asset Management Inc. raised its stake in IDEX Co. (NYSE:IEX) by 45.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 54,448 shares of the industrial products company’s stock after acquiring an additional 17,082 shares during the period. Eagle Asset Management Inc. owned approximately 0.07% of IDEX worth $12,442,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of IEX. Van ECK Associates Corp raised its stake in IDEX by 9,424.6% in the third quarter. Van ECK Associates Corp now owns 1,032,277 shares of the industrial products company’s stock valued at $211,473,000 after purchasing an additional 1,021,439 shares in the last quarter. King Luther Capital Management Corp raised its position in shares of IDEX by 16.2% in the 3rd quarter. King Luther Capital Management Corp now owns 742,724 shares of the industrial products company’s stock valued at $159,314,000 after buying an additional 103,432 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of IDEX by 0.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 630,443 shares of the industrial products company’s stock worth $135,230,000 after acquiring an additional 4,629 shares in the last quarter. Hsbc Holdings PLC increased its stake in IDEX by 75.6% in the second quarter. Hsbc Holdings PLC now owns 519,124 shares of the industrial products company’s stock valued at $104,179,000 after acquiring an additional 223,422 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in IDEX by 20.0% during the second quarter. Dimensional Fund Advisors LP now owns 470,672 shares of the industrial products company’s stock worth $94,698,000 after purchasing an additional 78,551 shares during the last quarter. 97.96% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

IEX has been the subject of several recent analyst reports. DA Davidson dropped their price objective on IDEX from $220.00 to $210.00 and set a “neutral” rating for the company in a research report on Monday, August 5th. Oppenheimer reduced their price target on shares of IDEX from $245.00 to $238.00 and set an “outperform” rating on the stock in a research note on Monday, August 5th. Royal Bank of Canada upped their price objective on shares of IDEX from $236.00 to $248.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Argus lowered shares of IDEX from a “buy” rating to a “hold” rating in a research report on Wednesday, August 14th. Finally, TD Cowen lowered their price target on shares of IDEX from $240.00 to $230.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $241.14.

IDEX Stock Performance

IEX stock opened at $232.50 on Friday. The firm has a market cap of $17.61 billion, a PE ratio of 35.99, a price-to-earnings-growth ratio of 2.40 and a beta of 0.96. The company has a current ratio of 2.97, a quick ratio of 2.11 and a debt-to-equity ratio of 0.54. The stock has a 50-day moving average price of $215.08 and a 200-day moving average price of $207.87. IDEX Co. has a 1-year low of $189.51 and a 1-year high of $246.36.

IDEX (NYSE:IEX) last issued its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $1.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.01. The firm had revenue of $798.20 million for the quarter, compared to analyst estimates of $793.05 million. IDEX had a return on equity of 15.92% and a net margin of 15.35%. The company’s revenue was up .6% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.12 earnings per share. As a group, equities research analysts expect that IDEX Co. will post 7.88 earnings per share for the current year.

IDEX Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 17th will be paid a $0.69 dividend. This represents a $2.76 annualized dividend and a yield of 1.19%. The ex-dividend date of this dividend is Friday, January 17th. IDEX’s dividend payout ratio (DPR) is currently 42.72%.

About IDEX

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.