Gamco Investors INC. ET AL reduced its position in shares of IDEX Corporation (NYSE:IEX) by 3.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 582,420 shares of the industrial products company’s stock after selling 20,196 shares during the period. Gamco Investors INC. ET AL owned 0.76% of IDEX Corporation worth $65,819,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Strs Ohio acquired a new stake in shares of IDEX Corporation during the second quarter worth $112,000. Creative Planning boosted its stake in shares of IDEX Corporation by 4.3% in the first quarter. Creative Planning now owns 1,422 shares of the industrial products company’s stock worth $133,000 after buying an additional 59 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in shares of IDEX Corporation during the second quarter worth $181,000. Wallington Asset Management LLC acquired a new stake in shares of IDEX Corporation during the second quarter worth $203,000. Finally, Diversified Trust Co acquired a new stake in shares of IDEX Corporation during the first quarter worth $207,000. 98.67% of the stock is currently owned by hedge funds and other institutional investors.
Shares of IDEX Corporation (NYSE IEX) opened at 113.59 on Friday. The stock has a market capitalization of $8.68 billion, a P/E ratio of 30.44 and a beta of 1.20. IDEX Corporation has a one year low of $82.05 and a one year high of $118.08. The stock’s 50 day moving average is $114.55 and its 200-day moving average is $103.28.
IDEX Corporation (NYSE:IEX) last posted its quarterly earnings data on Tuesday, July 25th. The industrial products company reported $1.08 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.02. IDEX Corporation had a net margin of 13.12% and a return on equity of 19.01%. The company had revenue of $573.40 million during the quarter, compared to analyst estimates of $568.43 million. During the same period in the prior year, the firm earned $0.99 earnings per share. The business’s quarterly revenue was up 4.3% on a year-over-year basis. On average, equities research analysts expect that IDEX Corporation will post $4.23 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, July 31st. Shareholders of record on Friday, July 14th were paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date was Wednesday, July 12th. IDEX Corporation’s dividend payout ratio is presently 39.68%.
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Several research firms have recently commented on IEX. Zacks Investment Research upgraded shares of IDEX Corporation from a “hold” rating to a “buy” rating and set a $117.00 target price for the company in a research note on Wednesday, May 10th. BidaskClub upgraded shares of IDEX Corporation from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 20th. Cowen and Company raised their target price on shares of IDEX Corporation from $80.00 to $95.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 5th. Robert W. Baird restated a “buy” rating and issued a $104.00 target price on shares of IDEX Corporation in a research note on Friday, April 21st. Finally, Stifel Nicolaus restated a “hold” rating and issued a $100.00 target price on shares of IDEX Corporation in a research note on Friday, May 26th. Ten equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. IDEX Corporation currently has a consensus rating of “Hold” and a consensus price target of $105.00.
In other IDEX Corporation news, Chairman Andrew K. Silvernail sold 50,000 shares of the company’s stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $115.00, for a total transaction of $5,750,000.00. Following the completion of the sale, the chairman now directly owns 142,114 shares of the company’s stock, valued at $16,343,110. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.00% of the stock is currently owned by corporate insiders.
About IDEX Corporation
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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