IDEX Co. (NYSE:IEX) Shares Purchased by Principal Financial Group Inc.

Principal Financial Group Inc. raised its holdings in IDEX Co. (NYSE:IEX) by 3.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 95,836 shares of the industrial products company’s stock after acquiring an additional 2,820 shares during the period. Principal Financial Group Inc. owned approximately 0.13% of IDEX worth $20,557,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. Catalyst Capital Advisors LLC lifted its position in IDEX by 73.8% during the third quarter. Catalyst Capital Advisors LLC now owns 139 shares of the industrial products company’s stock worth $30,000 after buying an additional 59 shares in the last quarter. EdgeRock Capital LLC purchased a new position in shares of IDEX during the 2nd quarter worth $41,000. Whittier Trust Co. boosted its position in shares of IDEX by 38.4% during the 2nd quarter. Whittier Trust Co. now owns 209 shares of the industrial products company’s stock valued at $42,000 after acquiring an additional 58 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt boosted its position in shares of IDEX by 100.0% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 200 shares of the industrial products company’s stock valued at $43,000 after acquiring an additional 100 shares during the last quarter. Finally, UMB Bank n.a. grew its holdings in shares of IDEX by 31.0% in the second quarter. UMB Bank n.a. now owns 241 shares of the industrial products company’s stock valued at $48,000 after purchasing an additional 57 shares during the period. 97.96% of the stock is owned by hedge funds and other institutional investors.

IDEX Stock Performance

NYSE IEX opened at $231.00 on Thursday. The company has a market cap of $17.49 billion, a P/E ratio of 35.76, a P/E/G ratio of 2.41 and a beta of 0.96. IDEX Co. has a 1-year low of $189.51 and a 1-year high of $246.36. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.97 and a quick ratio of 2.11. The stock has a 50-day moving average of $210.90 and a two-hundred day moving average of $207.59.

IDEX (NYSE:IEX) last announced its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $1.90 earnings per share for the quarter, beating analysts’ consensus estimates of $1.89 by $0.01. The firm had revenue of $798.20 million during the quarter, compared to analysts’ expectations of $793.05 million. IDEX had a net margin of 15.35% and a return on equity of 15.92%. The business’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.12 earnings per share. As a group, analysts anticipate that IDEX Co. will post 7.88 EPS for the current year.

IDEX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 17th will be issued a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a yield of 1.19%. IDEX’s dividend payout ratio (DPR) is presently 42.72%.

Analyst Upgrades and Downgrades

IEX has been the topic of several recent analyst reports. Argus lowered shares of IDEX from a “buy” rating to a “hold” rating in a report on Wednesday, August 14th. DA Davidson lowered their price objective on IDEX from $220.00 to $210.00 and set a “neutral” rating for the company in a research report on Monday, August 5th. Stifel Nicolaus lifted their target price on IDEX from $232.00 to $244.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Oppenheimer lowered their price target on IDEX from $245.00 to $238.00 and set an “outperform” rating for the company in a report on Monday, August 5th. Finally, TD Cowen reduced their price objective on shares of IDEX from $240.00 to $230.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $241.14.

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.