Huntington National Bank Grows Stock Holdings in IDEX Co. (NYSE:IEX)

Huntington National Bank increased its stake in IDEX Co. (NYSE:IEX) by 22.5% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 631 shares of the industrial products company’s stock after buying an additional 116 shares during the period. Huntington National Bank’s holdings in IDEX were worth $135,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Catalyst Capital Advisors LLC grew its stake in shares of IDEX by 73.8% in the third quarter. Catalyst Capital Advisors LLC now owns 139 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 59 shares during the last quarter. Assetmark Inc. purchased a new stake in IDEX during the 3rd quarter valued at about $39,000. Livforsakringsbolaget Skandia Omsesidigt increased its stake in 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 purchasing an additional 100 shares in the last quarter. EdgeRock Capital LLC purchased a new position in IDEX in the second quarter worth about $41,000. Finally, Whittier Trust Co. lifted its stake 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 worth $42,000 after buying an additional 58 shares in the last quarter. Institutional investors own 97.96% of the company’s stock.

IDEX Trading Down 0.7 %

Shares of NYSE:IEX opened at $227.83 on Monday. The stock’s 50-day simple moving average is $212.21 and its two-hundred day simple moving average is $207.58. The stock has a market capitalization of $17.25 billion, a price-to-earnings ratio of 35.27, a PEG ratio of 2.41 and a beta of 0.96. IDEX Co. has a 52-week low of $189.51 and a 52-week high of $246.36. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.11 and a current ratio of 2.97.

IDEX (NYSE:IEX) last posted its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $1.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.89 by $0.01. IDEX had a net margin of 15.35% and a return on equity of 15.92%. The company had revenue of $798.20 million for the quarter, compared to the consensus estimate of $793.05 million. During the same quarter last year, the firm posted $2.12 earnings per share. The firm’s revenue was up .6% compared to the same quarter last year. Analysts expect 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. The ex-dividend date is Friday, January 17th. This represents a $2.76 dividend on an annualized basis and a yield of 1.21%. IDEX’s dividend payout ratio is currently 42.72%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on IEX shares. Stifel Nicolaus raised their price target on shares of IDEX from $232.00 to $244.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Royal Bank of Canada lifted their target price on IDEX from $236.00 to $248.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Robert W. Baird lowered their price target on IDEX from $245.00 to $241.00 and set an “outperform” rating on the stock in a report on Thursday, October 31st. Oppenheimer reduced their price objective on IDEX from $245.00 to $238.00 and set an “outperform” rating for the company in a report on Monday, August 5th. Finally, Argus cut shares of IDEX from a “buy” rating to a “hold” rating in a research note on Wednesday, August 14th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $241.14.

IDEX 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.