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

Huntington National Bank lifted its position in shares of IDEX Co. (NYSE:IEX) by 14.0% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 694 shares of the industrial products company’s stock after purchasing an additional 85 shares during the quarter. Huntington National Bank’s holdings in IDEX were worth $114,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in IEX. Amundi Pioneer Asset Management Inc. raised its stake in IDEX by 0.4% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 69,239 shares of the industrial products company’s stock worth $10,506,000 after acquiring an additional 301 shares in the last quarter. DNB Asset Management AS raised its stake in IDEX by 12.5% during the second quarter. DNB Asset Management AS now owns 18,904 shares of the industrial products company’s stock worth $3,254,000 after acquiring an additional 2,100 shares in the last quarter. NN Investment Partners Holdings N.V. raised its stake in IDEX by 11.8% during the second quarter. NN Investment Partners Holdings N.V. now owns 40,273 shares of the industrial products company’s stock worth $6,931,000 after acquiring an additional 4,263 shares in the last quarter. Raymond James Trust N.A. raised its stake in IDEX by 7.5% during the second quarter. Raymond James Trust N.A. now owns 1,596 shares of the industrial products company’s stock worth $274,000 after acquiring an additional 112 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund raised its stake in IDEX by 0.9% during the second quarter. Oregon Public Employees Retirement Fund now owns 39,118 shares of the industrial products company’s stock worth $6,734,000 after acquiring an additional 333 shares in the last quarter. 95.25% of the stock is currently owned by institutional investors.

In related news, Director William M. Cook sold 4,080 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $161.93, for a total value of $660,674.40. Following the sale, the director now directly owns 22,308 shares in the company, valued at $3,612,334.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Eric D. Ashleman sold 2,922 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $165.75, for a total value of $484,321.50. Following the completion of the sale, the chief operating officer now owns 22,453 shares in the company, valued at $3,721,584.75. The disclosure for this sale can be found here. Corporate insiders own 1.20% of the company’s stock.

IEX has been the subject of several recent research reports. Wells Fargo & Co lowered their price objective on IDEX from $200.00 to $190.00 and set an “outperform” rating for the company in a research note on Thursday, October 31st. Citigroup initiated coverage on IDEX in a research note on Monday, September 30th. They issued a “neutral” rating and a $175.00 price objective for the company. Rosenblatt Securities initiated coverage on IDEX in a research note on Thursday. They issued a “buy” rating and a $185.00 price objective for the company. ValuEngine downgraded IDEX from a “buy” rating to a “hold” rating in a research note on Tuesday, October 1st. Finally, Stifel Nicolaus upped their price objective on IDEX from $157.00 to $162.00 and gave the company a “hold” rating in a research note on Monday, July 29th. Eight investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. IDEX currently has an average rating of “Hold” and a consensus target price of $174.14.

Shares of IDEX stock traded down $0.76 on Friday, hitting $159.62. The stock had a trading volume of 211,681 shares, compared to its average volume of 464,973. The stock has a 50 day moving average of $159.81 and a 200 day moving average of $161.59. IDEX Co. has a twelve month low of $117.72 and a twelve month high of $173.84. The company has a debt-to-equity ratio of 0.39, a quick ratio of 2.39 and a current ratio of 3.21. The firm has a market capitalization of $12.21 billion, a P/E ratio of 29.50, a PEG ratio of 2.76 and a beta of 1.21.

IDEX (NYSE:IEX) last released its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $1.52 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.46 by $0.06. IDEX had a return on equity of 21.28% and a net margin of 17.05%. The company had revenue of $624.20 million during the quarter, compared to the consensus estimate of $641.66 million. During the same quarter in the prior year, the firm posted $1.41 earnings per share. The firm’s revenue was up .2% compared to the same quarter last year. Equities analysts expect that IDEX Co. will post 5.81 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Wednesday, October 16th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.25%. The ex-dividend date was Tuesday, October 15th. IDEX’s payout ratio is presently 36.97%.

IDEX Profile

IDEX Corporation, through its subsidiaries, operates as an applied solutions company 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, flow meters, injectors, and other fluid-handling pump modules and systems, as well as offers flow monitoring and other services for the food, chemical, general industrial, water and wastewater, agricultural, and energy industries.

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Institutional Ownership by Quarter for IDEX (NYSE:IEX)

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