Advisors Asset Management Inc. cut its holdings in shares of IDEX Co. (NYSE:IEX) by 21.3% during the second quarter, Holdings Channel reports. The fund owned 2,369 shares of the industrial products company’s stock after selling 641 shares during the quarter. Advisors Asset Management Inc.’s holdings in IDEX were worth $521,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also bought and sold shares of the company. Vontobel Holding Ltd. increased its holdings in shares of IDEX by 7.8% during the 1st quarter. Vontobel Holding Ltd. now owns 24,286 shares of the industrial products company’s stock worth $5,084,000 after acquiring an additional 1,763 shares during the last quarter. Boston Private Wealth LLC increased its holdings in shares of IDEX by 19.1% during the 1st quarter. Boston Private Wealth LLC now owns 102,675 shares of the industrial products company’s stock worth $21,492,000 after acquiring an additional 16,440 shares during the last quarter. Allianz Asset Management GmbH increased its holdings in shares of IDEX by 11.0% during the 1st quarter. Allianz Asset Management GmbH now owns 399,939 shares of the industrial products company’s stock worth $83,715,000 after acquiring an additional 39,693 shares during the last quarter. US Bancorp DE increased its holdings in shares of IDEX by 26.2% during the 1st quarter. US Bancorp DE now owns 62,869 shares of the industrial products company’s stock worth $13,161,000 after acquiring an additional 13,041 shares during the last quarter. Finally, HighTower Advisors LLC increased its holdings in shares of IDEX by 3.7% during the 1st quarter. HighTower Advisors LLC now owns 6,558 shares of the industrial products company’s stock worth $1,374,000 after acquiring an additional 237 shares during the last quarter. 91.05% of the stock is currently owned by institutional investors and hedge funds.
Get IDEX alerts:
NYSE:IEX opened at $225.85 on Friday. The firm’s fifty day moving average is $223.38. The company has a market cap of $17.16 billion, a P/E ratio of 40.99, a price-to-earnings-growth ratio of 2.91 and a beta of 1.07. The company has a current ratio of 3.32, a quick ratio of 2.52 and a debt-to-equity ratio of 0.45. IDEX Co. has a fifty-two week low of $166.51 and a fifty-two week high of $235.76.
IDEX (NYSE:IEX) last released its earnings results on Monday, July 26th. The industrial products company reported $1.61 earnings per share for the quarter, missing analysts’ consensus estimates of $1.62 by ($0.01). The company had revenue of $685.95 million for the quarter, compared to the consensus estimate of $687.34 million. IDEX had a net margin of 16.57% and a return on equity of 17.58%. The business’s revenue was up 22.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.10 earnings per share. On average, analysts expect that IDEX Co. will post 6.34 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 30th. Investors of record on Thursday, July 15th were given a dividend of $0.54 per share. The ex-dividend date was Wednesday, July 14th. This represents a $2.16 annualized dividend and a dividend yield of 0.96%. IDEX’s dividend payout ratio is currently 41.62%.
A number of research analysts have commented on IEX shares. Royal Bank of Canada upped their price objective on IDEX from $232.00 to $247.00 and gave the company an “outperform” rating in a report on Thursday, April 29th. Rosenblatt Securities upped their price objective on IDEX from $225.00 to $255.00 and gave the company a “buy” rating in a report on Monday, May 3rd. DA Davidson upped their price objective on IDEX from $190.00 to $205.00 and gave the company a “neutral” rating in a report on Thursday, April 29th. They noted that the move was a valuation call. Wells Fargo & Company upped their price objective on IDEX from $240.00 to $260.00 and gave the company an “overweight” rating in a report on Monday, May 3rd. Finally, Morgan Stanley upped their price objective on IDEX from $230.00 to $250.00 and gave the company an “overweight” rating in a report on Thursday, April 29th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $233.71.
IDEX Profile
IDEX Corp. engages in the provision of engineering solutions. It operates through the following segments: Fluid and Metering Technologies; Health and Science Technologies and Fire and Safety or Diversified Products. The Fluid and Metering Technologies segment involves in the design, production, and distribution of displacement pumps, valves, flow meters, injectors, and fluid-handling pump modules and systems.
Featured Story: VIX – Volatility Index
Want to see what other hedge funds are holding IEX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for IDEX Co. (NYSE:IEX).
IEX)' width='650' height='350'/>