BNP Paribas Arbitrage SA increased its stake in IDEX Corporation (NYSE:IEX) by 181.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 106,468 shares of the industrial products company’s stock after buying an additional 68,590 shares during the period. BNP Paribas Arbitrage SA owned about 0.14% of IDEX Corporation worth $12,933,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of IEX. BlackRock Inc. increased its stake in shares of IDEX Corporation by 8.8% in the second quarter. BlackRock Inc. now owns 6,993,420 shares of the industrial products company’s stock worth $790,326,000 after buying an additional 568,369 shares during the last quarter. State Street Corp increased its stake in shares of IDEX Corporation by 20.6% in the second quarter. State Street Corp now owns 2,396,039 shares of the industrial products company’s stock worth $270,781,000 after buying an additional 409,654 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of IDEX Corporation by 59.5% in the second quarter. Principal Financial Group Inc. now owns 904,398 shares of the industrial products company’s stock worth $102,206,000 after buying an additional 337,382 shares during the last quarter. Prudential Financial Inc. increased its stake in IDEX Corporation by 468.9% during the second quarter. Prudential Financial Inc. now owns 368,154 shares of the industrial products company’s stock valued at $41,605,000 after purchasing an additional 303,440 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. bought a new stake in IDEX Corporation during the second quarter valued at $24,072,000. Institutional investors and hedge funds own 97.92% of the company’s stock.
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IDEX Corporation (NYSE:IEX) opened at $127.96 on Tuesday. IDEX Corporation has a 1-year low of $88.29 and a 1-year high of $129.40. The stock has a market cap of $9,780.96, a price-to-earnings ratio of 30.85, a PEG ratio of 2.31 and a beta of 1.22. The company has a current ratio of 2.84, a quick ratio of 2.04 and a debt-to-equity ratio of 0.48.
IDEX Corporation (NYSE:IEX) last announced its quarterly earnings results on Monday, October 16th. The industrial products company reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.02. IDEX Corporation had a net margin of 13.48% and a return on equity of 19.07%. The company had revenue of $574.50 million during the quarter, compared to the consensus estimate of $563.23 million. During the same quarter in the previous year, the company posted $0.92 earnings per share. The company’s revenue for the quarter was up 8.3% compared to the same quarter last year. sell-side analysts expect that IDEX Corporation will post 4.26 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, October 31st. Stockholders of record on Monday, October 16th were issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 1.16%. The ex-dividend date was Friday, October 13th. IDEX Corporation’s dividend payout ratio (DPR) is 37.95%.
Several analysts have weighed in on the stock. Robert W. Baird reiterated a “buy” rating and set a $129.00 target price on shares of IDEX Corporation in a research note on Wednesday, October 4th. Royal Bank Of Canada boosted their target price on shares of IDEX Corporation from $124.00 to $126.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 18th. Zacks Investment Research upgraded shares of IDEX Corporation from a “hold” rating to a “buy” rating and set a $127.00 target price for the company in a research note on Monday, August 21st. BidaskClub lowered shares of IDEX Corporation from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. Finally, BMO Capital Markets reiterated a “hold” rating and set a $110.00 target price on shares of IDEX Corporation in a research note on Wednesday, September 6th. Eleven analysts have rated the stock with a hold rating and two have issued a buy rating to the company. IDEX Corporation currently has a consensus rating of “Hold” and an average target price of $113.78.
In related news, SVP Daniel J. Salliotte sold 6,000 shares of the company’s stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $115.34, for a total value of $692,040.00. Following the completion of the sale, the senior vice president now owns 33,762 shares of the company’s stock, valued at $3,894,109.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Jeffrey D. Bucklew sold 4,000 shares of the company’s stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $116.79, for a total transaction of $467,160.00. Following the completion of the sale, the senior vice president now directly owns 6,726 shares of the company’s stock, valued at approximately $785,529.54. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.
IDEX Corporation Company Profile
IDEX Corporation (IDEX) operates an applied solutions business that sells pumps, flow meters and other fluidics systems, and components and engineered products. The Company operates through three segments: Fluid & Metering Technologies (FMT), Health & Science Technologies (HST) and Fire & Safety/Diversified Products (FSDP).
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