Schroder Investment Management Group Reduces Stock Position in IDEX Co. (NYSE:IEX)

Schroder Investment Management Group trimmed its holdings in shares of IDEX Co. (NYSE:IEXFree Report) by 15.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 293,801 shares of the industrial products company’s stock after selling 55,744 shares during the quarter. Schroder Investment Management Group owned 0.39% of IDEX worth $63,787,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Nordea Investment Management AB raised its holdings in shares of IDEX by 1,196.4% in the fourth quarter. Nordea Investment Management AB now owns 135,825 shares of the industrial products company’s stock valued at $29,598,000 after acquiring an additional 125,348 shares in the last quarter. UBS Group AG raised its stake in IDEX by 177.3% in the fourth quarter. UBS Group AG now owns 57,255 shares of the industrial products company’s stock worth $12,431,000 after buying an additional 36,606 shares in the last quarter. Impax Asset Management Group plc lifted its holdings in IDEX by 4.0% during the fourth quarter. Impax Asset Management Group plc now owns 2,190,741 shares of the industrial products company’s stock worth $475,632,000 after buying an additional 84,502 shares during the period. Deutsche Bank AG boosted its position in IDEX by 13.3% during the 3rd quarter. Deutsche Bank AG now owns 244,610 shares of the industrial products company’s stock valued at $50,884,000 after acquiring an additional 28,661 shares in the last quarter. Finally, Raymond James & Associates increased its holdings in shares of IDEX by 11.2% in the 4th quarter. Raymond James & Associates now owns 76,465 shares of the industrial products company’s stock valued at $16,601,000 after acquiring an additional 7,684 shares during the period. 97.96% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on IEX shares. Citigroup boosted their target price on IDEX from $254.00 to $277.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. StockNews.com upgraded shares of IDEX from a “hold” rating to a “buy” rating in a research note on Saturday, May 18th. Robert W. Baird cut their target price on IDEX from $260.00 to $256.00 and set an “outperform” rating on the stock in a research report on Thursday, April 25th. Royal Bank of Canada restated an “outperform” rating and issued a $255.00 price objective on shares of IDEX in a research note on Thursday, March 21st. Finally, Oppenheimer lifted their target price on shares of IDEX from $245.00 to $252.00 and gave the company an “outperform” rating in a report on Thursday, April 18th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $250.71.

Check Out Our Latest Research Report on IDEX

IDEX Price Performance

IEX traded down $1.61 during midday trading on Friday, hitting $201.79. 323,591 shares of the company traded hands, compared to its average volume of 491,622. The business has a 50 day simple moving average of $223.86 and a two-hundred day simple moving average of $221.01. IDEX Co. has a 52-week low of $183.76 and a 52-week high of $246.36. The company has a market capitalization of $15.27 billion, a price-to-earnings ratio of 26.55, a PEG ratio of 2.04 and a beta of 0.99. The company has a current ratio of 3.37, a quick ratio of 2.45 and a debt-to-equity ratio of 0.37.

IDEX (NYSE:IEXGet Free Report) last released its earnings results on Tuesday, April 23rd. The industrial products company reported $1.88 earnings per share for the quarter, beating the consensus estimate of $1.76 by $0.12. The business had revenue of $801.00 million for the quarter, compared to the consensus estimate of $807.52 million. IDEX had a return on equity of 17.60% and a net margin of 17.89%. The business’s quarterly revenue was down 5.3% compared to the same quarter last year. During the same quarter last year, the business posted $2.09 earnings per share. On average, equities analysts forecast that IDEX Co. will post 8.31 earnings per share for the current fiscal year.

IDEX Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 31st. Investors of record on Friday, May 17th were paid a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a yield of 1.37%. The ex-dividend date was Thursday, May 16th. This is a boost from IDEX’s previous quarterly dividend of $0.64. IDEX’s dividend payout ratio is currently 36.32%.

IDEX Profile

(Free Report)

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.

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Institutional Ownership by Quarter for IDEX (NYSE:IEX)

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