Nordea Investment Management AB Has $181.27 Million Stock Holdings in IDEX Co. (NYSE:IEX)

Nordea Investment Management AB raised its position in IDEX Co. (NYSE:IEX) by 5.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 862,625 shares of the industrial products company’s stock after purchasing an additional 43,786 shares during the quarter. Nordea Investment Management AB owned approximately 1.14% of IDEX worth $181,272,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of IEX. State Street Corp grew its stake in shares of IDEX by 0.5% in the 3rd quarter. State Street Corp now owns 3,017,976 shares of the industrial products company’s stock valued at $647,356,000 after buying an additional 15,077 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of IDEX by 108.4% during the 3rd quarter. Wellington Management Group LLP now owns 2,830,929 shares of the industrial products company’s stock worth $607,234,000 after purchasing an additional 1,472,456 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of IDEX by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,891,175 shares of the industrial products company’s stock valued at $404,339,000 after purchasing an additional 23,388 shares in the last quarter. Champlain Investment Partners LLC lifted its stake in shares of IDEX by 28.8% in the 3rd quarter. Champlain Investment Partners LLC now owns 1,223,676 shares of the industrial products company’s stock valued at $262,479,000 after purchasing an additional 273,460 shares during the last quarter. Finally, Barclays PLC increased its position in IDEX by 1.2% during the third quarter. Barclays PLC now owns 1,177,645 shares of the industrial products company’s stock worth $252,603,000 after buying an additional 14,360 shares during the last quarter. 97.96% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

IEX has been the subject of a number of analyst reports. Robert W. Baird reduced their price target on IDEX from $245.00 to $241.00 and set an “outperform” rating for the company in a research report on Thursday, October 31st. Citigroup upped their target price on IDEX from $251.00 to $269.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Royal Bank of Canada lifted their price target on shares of IDEX from $248.00 to $258.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. Finally, Stifel Nicolaus upped their price objective on shares of IDEX from $244.00 to $256.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $243.14.

IDEX Stock Performance

NYSE IEX opened at $209.21 on Tuesday. The company’s fifty day moving average is $222.01 and its two-hundred day moving average is $209.77. 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 current ratio of 2.97 and a quick ratio of 2.11. The firm has a market capitalization of $15.84 billion, a price-to-earnings ratio of 32.39, a P/E/G ratio of 2.36 and a beta of 0.97.

IDEX (NYSE:IEX) last issued its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $1.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.01. IDEX had a return on equity of 15.92% and a net margin of 15.35%. The firm had revenue of $798.20 million for the quarter, compared to analyst estimates of $793.05 million. During the same period in the previous year, the company posted $2.12 earnings per share. The company’s quarterly revenue was up .6% compared to the same quarter last year. Equities research analysts forecast that IDEX Co. will post 7.89 EPS for the current year.

IDEX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 17th will be paid a dividend of $0.69 per share. The ex-dividend date is Friday, January 17th. This represents a $2.76 dividend on an annualized basis and a yield of 1.32%. IDEX’s dividend payout ratio is currently 42.72%.

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.