IDEX Corporation $IEX Shares Sold by Handelsbanken Fonder AB

Handelsbanken Fonder AB lessened its holdings in IDEX Corporation (NYSE:IEX) by 3.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 20,100 shares of the industrial products company’s stock after selling 700 shares during the quarter. Handelsbanken Fonder AB’s holdings in IDEX were worth $3,529,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in shares of IDEX by 257.5% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 143 shares of the industrial products company’s stock valued at $25,000 after acquiring an additional 103 shares during the last quarter. American National Bank & Trust acquired a new position in IDEX during the second quarter valued at $25,000. Steph & Co. acquired a new stake in IDEX during the 2nd quarter worth about $42,000. SVB Wealth LLC acquired a new stake in IDEX during the 1st quarter worth about $56,000. Finally, Federated Hermes Inc. raised its stake in shares of IDEX by 42.9% during the 1st quarter. Federated Hermes Inc. now owns 333 shares of the industrial products company’s stock valued at $60,000 after buying an additional 100 shares during the last quarter. 97.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

IEX has been the topic of several analyst reports. DA Davidson set a $180.00 target price on IDEX and gave the stock a “neutral” rating in a report on Monday, August 4th. Stifel Nicolaus dropped their price objective on shares of IDEX from $204.00 to $191.00 and set a “buy” rating on the stock in a research note on Monday, October 20th. Royal Bank Of Canada decreased their target price on shares of IDEX from $200.00 to $195.00 and set an “outperform” rating for the company in a research note on Thursday, October 30th. Weiss Ratings reissued a “hold (c-)” rating on shares of IDEX in a report on Wednesday, October 8th. Finally, Oppenheimer set a $210.00 price objective on shares of IDEX in a report on Tuesday, October 7th. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $198.86.

IDEX Trading Down 0.6%

Shares of IEX stock opened at $169.69 on Tuesday. IDEX Corporation has a 1-year low of $153.36 and a 1-year high of $237.38. The company has a market cap of $12.70 billion, a price-to-earnings ratio of 26.85, a PEG ratio of 1.83 and a beta of 1.04. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.93 and a quick ratio of 2.13. The stock has a 50 day simple moving average of $165.44 and a 200-day simple moving average of $171.56.

IDEX (NYSE:IEX) last issued its quarterly earnings results on Friday, December 16th. The industrial products company reported $1.79 EPS for the quarter. The company had revenue of $712.00 million during the quarter. IDEX had a net margin of 13.97% and a return on equity of 15.20%. On average, equities research analysts expect that IDEX Corporation will post 8.26 EPS for the current fiscal year.

IDEX announced that its board has initiated a share buyback program on Thursday, September 18th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the industrial products company to reacquire up to 8.3% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

IDEX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 30th. Shareholders of record on Friday, January 16th will be issued a $0.71 dividend. The ex-dividend date is Friday, January 16th. This represents a $2.84 dividend on an annualized basis and a yield of 1.7%. IDEX’s dividend payout ratio (DPR) is presently 44.94%.

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.