Tredje AP fonden Reduces Position in IDEX Co. (NYSE:IEX)

Tredje AP fonden reduced its holdings in IDEX Co. (NYSE:IEX) by 9.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 56,234 shares of the industrial products company’s stock after selling 5,808 shares during the period. Tredje AP fonden owned approximately 0.07% of IDEX worth $11,314,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Price T Rowe Associates Inc. MD lifted its stake in IDEX by 7.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,964,956 shares of the industrial products company’s stock worth $1,943,609,000 after purchasing an additional 555,250 shares in the last quarter. Norges Bank acquired a new stake in shares of IDEX in the fourth quarter valued at approximately $237,425,000. Goldman Sachs Group Inc. boosted its stake in IDEX by 19.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 492,810 shares of the industrial products company’s stock worth $106,994,000 after buying an additional 81,780 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in IDEX by 20.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 470,672 shares of the industrial products company’s stock valued at $94,698,000 after buying an additional 78,551 shares in the last quarter. Finally, Fisher Asset Management LLC grew its holdings in IDEX by 3.8% in the 4th quarter. Fisher Asset Management LLC now owns 429,021 shares of the industrial products company’s stock valued at $93,145,000 after buying an additional 15,633 shares in the last quarter. 97.96% of the stock is currently owned by institutional investors and hedge funds.

IDEX Stock Performance

NYSE:IEX opened at $204.69 on Wednesday. The stock has a market capitalization of $15.49 billion, a P/E ratio of 26.93, a PEG ratio of 2.09 and a beta of 0.95. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.52 and a current ratio of 3.41. IDEX Co. has a fifty-two week low of $183.76 and a fifty-two week high of $246.36. The company has a 50 day moving average price of $200.46 and a 200 day moving average price of $214.32.

IDEX (NYSE:IEX) last released its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $2.06 EPS for the quarter, topping the consensus estimate of $2.04 by $0.02. The business had revenue of $807.20 million during the quarter, compared to analyst estimates of $828.15 million. IDEX had a return on equity of 16.87% and a net margin of 18.19%. The company’s quarterly revenue was down 4.6% on a year-over-year basis. During the same period last year, the business posted $2.18 earnings per share. Equities research analysts forecast that IDEX Co. will post 7.88 EPS for the current year.

IDEX Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 26th. Shareholders of record on Friday, July 12th were paid a dividend of $0.69 per share. The ex-dividend date was Friday, July 12th. This represents a $2.76 dividend on an annualized basis and a yield of 1.35%. IDEX’s dividend payout ratio (DPR) is presently 36.32%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Stifel Nicolaus lowered their price target on shares of IDEX from $265.00 to $236.00 and set a “buy” rating on the stock in a research report on Thursday, July 18th. Royal Bank of Canada decreased their target price on shares of IDEX from $250.00 to $236.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. Argus cut shares of IDEX from a “buy” rating to a “hold” rating in a research note on Wednesday, August 14th. TD Cowen reduced their price target on shares of IDEX from $240.00 to $230.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Finally, DA Davidson lowered 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. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $233.50.

IDEX 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.