Pictet Asset Management SA reduced its stake in shares of IDEX Co. (NYSE:IEX – Get Rating) by 13.3% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 1,410,697 shares of the industrial products company’s stock after selling 215,915 shares during the period. Pictet Asset Management SA owned approximately 1.86% of IDEX worth $333,376,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. Bell Investment Advisors Inc purchased a new position in IDEX during the 3rd quarter valued at about $25,000. CVA Family Office LLC acquired a new stake in shares of IDEX in the fourth quarter valued at approximately $27,000. EverSource Wealth Advisors LLC purchased a new position in IDEX in the fourth quarter worth $31,000. Dark Forest Capital Management LP purchased a new stake in IDEX during the 3rd quarter worth about $32,000. Finally, Consolidated Planning Corp acquired a new position in shares of IDEX in the 3rd quarter valued at about $37,000. Institutional investors own 96.95% of the company’s stock.
IEX has been the topic of several recent analyst reports. Cowen raised IDEX from a “market perform” rating to an “outperform” rating and set a $220.00 price target on the stock in a research report on Wednesday, March 9th. Zacks Investment Research upgraded IDEX from a “hold” rating to a “buy” rating and set a $213.00 price target on the stock in a research report on Friday, February 4th. Citigroup boosted their price objective on IDEX from $232.00 to $235.00 in a report on Thursday, April 28th. DA Davidson reaffirmed a “neutral” rating on shares of IDEX in a research report on Thursday, April 28th. Finally, Mizuho dropped their target price on IDEX from $233.00 to $205.00 in a report on Thursday, April 28th. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $225.10.
IDEX (NYSE:IEX – Get Rating) last announced its earnings results on Tuesday, April 26th. The industrial products company reported $1.96 EPS for the quarter, topping the consensus estimate of $1.74 by $0.22. The firm had revenue of $751.10 million for the quarter, compared to the consensus estimate of $721.21 million. IDEX had a net margin of 16.65% and a return on equity of 18.61%. During the same period last year, the company posted $1.51 EPS. On average, equities research analysts predict that IDEX Co. will post 7.69 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, May 27th. Shareholders of record on Tuesday, May 17th will be paid a $0.60 dividend. The ex-dividend date of this dividend is Monday, May 16th. This represents a $2.40 annualized dividend and a yield of 1.30%. This is an increase from IDEX’s previous quarterly dividend of $0.54. IDEX’s dividend payout ratio (DPR) is currently 34.67%.
IDEX Profile (Get Rating)
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, small volume provers, flow meters, injectors, and other fluid-handling pump modules and systems, as well as offers flow monitoring and other services for the food, chemical, general industrial, water and wastewater, agricultural, and energy industries.
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