State Street Corp Purchases 15,077 Shares of IDEX Co. (NYSE:IEX)

State Street Corp grew its position in IDEX Co. (NYSE:IEX) by 0.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,017,976 shares of the industrial products company’s stock after acquiring an additional 15,077 shares during the period. State Street Corp’s holdings in IDEX were worth $647,356,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Catalyst Capital Advisors LLC raised its stake in shares of IDEX by 73.8% in the third quarter. Catalyst Capital Advisors LLC now owns 139 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 59 shares during the last quarter. Assetmark Inc. bought a new position in IDEX in the 3rd quarter worth approximately $39,000. Livforsakringsbolaget Skandia Omsesidigt raised its position in IDEX by 100.0% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 200 shares of the industrial products company’s stock worth $43,000 after purchasing an additional 100 shares during the last quarter. EdgeRock Capital LLC bought a new position in IDEX in the 2nd quarter worth approximately $41,000. Finally, Whittier Trust Co. raised its position in IDEX by 38.4% in the 2nd quarter. Whittier Trust Co. now owns 209 shares of the industrial products company’s stock worth $42,000 after purchasing an additional 58 shares during the last quarter. Institutional investors own 97.96% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on IEX. Argus cut shares of IDEX from a “buy” rating to a “hold” rating in a research report on Wednesday, August 14th. Stifel Nicolaus boosted their price objective on shares of IDEX from $232.00 to $244.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Royal Bank of Canada boosted their price objective on shares of IDEX from $248.00 to $258.00 and gave the stock an “outperform” rating in a research report on Friday. Finally, Robert W. Baird dropped their price objective on shares of IDEX from $245.00 to $241.00 and set an “outperform” rating for the company in a research report on Thursday, October 31st. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $242.57.

IDEX Price Performance

IEX opened at $229.71 on Monday. The company has a fifty day moving average price of $219.43 and a two-hundred day moving average price of $208.38. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.11 and a current ratio of 2.97. IDEX Co. has a 52 week low of $189.51 and a 52 week high of $246.36. The firm has a market capitalization of $17.39 billion, a PE ratio of 35.56, a P/E/G ratio of 2.41 and a beta of 0.96.

IDEX (NYSE:IEX) last announced 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. IDEX had a net margin of 15.35% and a return on equity of 15.92%. The company had revenue of $798.20 million during the quarter, compared to analyst estimates of $793.05 million. During the same quarter in the previous year, the business earned $2.12 EPS. The firm’s revenue was up .6% on a year-over-year basis. As a group, analysts anticipate that IDEX Co. will post 7.89 earnings per share for the current year.

IDEX Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 17th will be issued a $0.69 dividend. This represents a $2.76 annualized dividend and a dividend yield of 1.20%. The ex-dividend date is Friday, January 17th. IDEX’s dividend payout ratio (DPR) is 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.