IDEX Co. (NYSE:IEX) Shares Purchased by Handelsbanken Fonder AB

Handelsbanken Fonder AB raised its position in IDEX Co. (NYSE:IEX) by 24.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,600 shares of the industrial products company’s stock after purchasing an additional 3,800 shares during the quarter. Handelsbanken Fonder AB’s holdings in IDEX were worth $4,204,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Riverview Trust Co acquired a new stake in shares of IDEX during the 1st quarter worth about $35,000. Quarry LP acquired a new stake in shares of IDEX during the fourth quarter valued at about $36,000. EdgeRock Capital LLC purchased a new stake in shares of IDEX in the 2nd quarter valued at approximately $41,000. Whittier Trust Co. lifted its holdings in shares of IDEX by 38.4% in the 2nd quarter. Whittier Trust Co. now owns 209 shares of the industrial products company’s stock worth $42,000 after acquiring an additional 58 shares during the last quarter. Finally, UMB Bank n.a. boosted its position in shares of IDEX by 31.0% during the 2nd quarter. UMB Bank n.a. now owns 241 shares of the industrial products company’s stock worth $48,000 after purchasing an additional 57 shares during the period. Hedge funds and other institutional investors own 97.96% of the company’s stock.

IDEX Stock Performance

Shares of IDEX stock opened at $208.41 on Wednesday. The business has a 50-day simple moving average of $202.39 and a 200-day simple moving average of $210.99. The company has a market cap of $15.78 billion, a PE ratio of 27.42, a P/E/G ratio of 2.22 and a beta of 0.95. IDEX Co. has a one year low of $183.76 and a one year high of $246.36. 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 (NYSE:IEX) last posted its earnings results on Wednesday, July 31st. The industrial products company reported $2.06 EPS for the quarter, beating the consensus estimate of $2.04 by $0.02. IDEX had a return on equity of 16.87% and a net margin of 18.19%. The firm had revenue of $807.20 million for the quarter, compared to analyst estimates of $828.15 million. During the same quarter in the prior year, the company posted $2.18 earnings per share. IDEX’s revenue for the quarter was down 4.6% compared to the same quarter last year. On average, equities research analysts forecast that IDEX Co. will post 7.88 EPS for the current fiscal year.

IDEX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, October 11th will be issued a $0.69 dividend. This represents a $2.76 annualized dividend and a dividend yield of 1.32%. The ex-dividend date is Friday, October 11th. IDEX’s payout ratio is 36.32%.

Analysts Set New Price Targets

IEX has been the topic of a number of research analyst reports. TD Cowen cut their target price on IDEX from $240.00 to $230.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. DA Davidson decreased their target price on IDEX from $220.00 to $210.00 and set a “neutral” rating on the stock in a research note on Monday, August 5th. Robert W. Baird dropped their target price on IDEX from $256.00 to $241.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Royal Bank of Canada reduced their price target on shares of IDEX from $250.00 to $236.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. Finally, StockNews.com cut shares of IDEX from a “buy” rating to a “hold” rating in a report on Thursday, July 11th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $238.29.

About IDEX

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.