Livforsakringsbolaget Skandia Omsesidigt Buys 100 Shares of IDEX Co. (NYSE:IEX)

Livforsakringsbolaget Skandia Omsesidigt boosted its stake in IDEX Co. (NYSE:IEX) by 100.0% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 200 shares of the industrial products company’s stock after purchasing an additional 100 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in IDEX were worth $43,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. UMB Bank n.a. increased its holdings in IDEX by 31.0% in the 2nd quarter. UMB Bank n.a. now owns 241 shares of the industrial products company’s stock worth $48,000 after acquiring an additional 57 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of IDEX by 19.9% in the second quarter. EverSource Wealth Advisors LLC now owns 344 shares of the industrial products company’s stock worth $72,000 after purchasing an additional 57 shares in the last quarter. Whittier Trust Co. raised its position in shares of IDEX by 38.4% in the second quarter. Whittier Trust Co. now owns 209 shares of the industrial products company’s stock valued at $42,000 after purchasing an additional 58 shares during the period. Czech National Bank lifted its stake in shares of IDEX by 0.5% during the 1st quarter. Czech National Bank now owns 13,306 shares of the industrial products company’s stock valued at $3,247,000 after buying an additional 61 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund grew its stake in IDEX by 1.0% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 6,476 shares of the industrial products company’s stock valued at $1,303,000 after buying an additional 61 shares in the last quarter. 97.96% of the stock is currently owned by hedge funds and other institutional investors.

IDEX Stock Performance

Shares of IEX opened at $210.58 on Thursday. The company has a current ratio of 3.41, a quick ratio of 2.52 and a debt-to-equity ratio of 0.36. The stock has a 50-day moving average price of $204.19 and a 200-day moving average price of $209.84. The company has a market cap of $15.94 billion, a PE ratio of 27.71, a price-to-earnings-growth ratio of 2.20 and a beta of 0.95. IDEX Co. has a 12-month low of $183.76 and a 12-month high of $246.36.

IDEX (NYSE:IEX) last released its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $2.06 EPS for the quarter, topping analysts’ consensus estimates of $2.04 by $0.02. IDEX had a net margin of 18.19% and a return on equity of 16.87%. The business had revenue of $807.20 million during the quarter, compared to analysts’ expectations of $828.15 million. During the same quarter in the previous year, the company earned $2.18 EPS. The business’s quarterly revenue was down 4.6% compared to the same quarter last year. As a group, equities analysts forecast that IDEX Co. will post 7.88 earnings per share for the current fiscal year.

IDEX Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, October 11th will be paid a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a yield of 1.31%. The ex-dividend date of this dividend is Friday, October 11th. IDEX’s dividend payout ratio (DPR) is currently 36.32%.

Analysts Set New Price Targets

IEX has been the topic of several recent research reports. Argus downgraded IDEX from a “buy” rating to a “hold” rating in a research report on Wednesday, August 14th. StockNews.com cut IDEX from a “buy” rating to a “hold” rating in a report on Thursday, July 11th. Oppenheimer reduced their target price on IDEX from $245.00 to $238.00 and set an “outperform” rating for the company in a report on Monday, August 5th. Robert W. Baird cut their price objective on shares of IDEX from $256.00 to $241.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Finally, DA Davidson reduced their price objective on shares of IDEX from $220.00 to $210.00 and set a “neutral” rating for the company in a research note on Monday, August 5th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $239.43.

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.