IDEX Co. (NYSE:IEX) Shares Bought by First Hawaiian Bank

First Hawaiian Bank raised its holdings in shares of IDEX Co. (NYSE:IEX) by 2.2% in the 2nd quarter, HoldingsChannel reports. The fund owned 7,410 shares of the industrial products company’s stock after buying an additional 162 shares during the quarter. First Hawaiian Bank’s holdings in IDEX were worth $1,491,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. UBS Group AG raised its holdings in IDEX by 177.3% during the fourth quarter. UBS Group AG now owns 57,255 shares of the industrial products company’s stock worth $12,431,000 after purchasing an additional 36,606 shares in the last quarter. Impax Asset Management Group plc boosted its stake in IDEX by 4.0% in the fourth quarter. Impax Asset Management Group plc now owns 2,190,741 shares of the industrial products company’s stock valued at $475,632,000 after acquiring an additional 84,502 shares in the last quarter. SG Americas Securities LLC boosted its stake in IDEX by 241.3% in the first quarter. SG Americas Securities LLC now owns 37,561 shares of the industrial products company’s stock valued at $9,166,000 after acquiring an additional 26,557 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of IDEX by 2.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 608,744 shares of the industrial products company’s stock worth $132,164,000 after purchasing an additional 15,202 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its holdings in shares of IDEX by 90.1% in the first quarter. BNP Paribas Financial Markets now owns 69,984 shares of the industrial products company’s stock valued at $17,077,000 after acquiring an additional 33,162 shares during the period. Hedge funds and other institutional investors own 97.96% of the company’s stock.

IDEX Trading Up 1.6 %

IEX stock traded up $3.03 on Tuesday, hitting $195.24. 266,918 shares of the company were exchanged, compared to its average volume of 435,337. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.41 and a quick ratio of 2.45. The stock has a market capitalization of $14.78 billion, a price-to-earnings ratio of 25.29, a price-to-earnings-growth ratio of 2.08 and a beta of 0.95. IDEX Co. has a twelve month low of $183.76 and a twelve month high of $246.36. The business’s fifty day moving average is $202.42 and its two-hundred day moving average is $219.38.

IDEX (NYSE:IEX) last announced 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 company 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 firm’s revenue was down 4.6% on a year-over-year basis. During the same period in the prior year, the firm posted $2.18 earnings per share. As a group, research analysts forecast that IDEX Co. will post 7.85 earnings per share for the current year.

IDEX Dividend Announcement

The business also recently disclosed 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. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date was Friday, July 12th. IDEX’s dividend payout ratio is presently 36.32%.

Analysts Set New Price Targets

IEX has been the topic of several recent research reports. Citigroup boosted their price target on IDEX from $254.00 to $277.00 and gave the company a “buy” rating in a research report on Monday, April 8th. Royal Bank of Canada cut their price target on shares of IDEX from $250.00 to $236.00 and set an “outperform” rating for the company in a report on Friday. StockNews.com lowered shares of IDEX from a “buy” rating to a “hold” rating in a research report on Thursday, July 11th. DA Davidson reduced their price target on shares of IDEX from $220.00 to $210.00 and set a “neutral” rating for the company in a research report on Monday. Finally, Robert W. Baird reduced their price objective on IDEX from $256.00 to $241.00 and set an “outperform” rating for the company in a report on Friday. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $236.00.

IDEX Company 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.