BlackRock Inc. Has $1.21 Billion Position in IDEX Co. (NYSE:IEX)

BlackRock Inc. increased its stake in shares of IDEX Co. (NYSE:IEX) by 1.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,841,852 shares of the industrial products company’s stock after buying an additional 77,725 shares during the quarter. BlackRock Inc. owned about 0.08% of IDEX worth $1,208,971,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Berman Capital Advisors LLC boosted its holdings in shares of IDEX by 46.1% in the 2nd quarter. Berman Capital Advisors LLC now owns 187 shares of the industrial products company’s stock valued at $41,000 after purchasing an additional 59 shares in the last quarter. Penserra Capital Management LLC boosted its holdings in shares of IDEX by 34.2% in the 2nd quarter. Penserra Capital Management LLC now owns 247 shares of the industrial products company’s stock valued at $54,000 after purchasing an additional 63 shares in the last quarter. Signaturefd LLC boosted its holdings in shares of IDEX by 15.0% in the 3rd quarter. Signaturefd LLC now owns 345 shares of the industrial products company’s stock valued at $71,000 after purchasing an additional 45 shares in the last quarter. PFG Private Wealth Management LLC acquired a new stake in shares of IDEX in the 3rd quarter valued at $73,000. Finally, First Horizon Advisors Inc. boosted its holdings in shares of IDEX by 168.5% in the 3rd quarter. First Horizon Advisors Inc. now owns 1,125 shares of the industrial products company’s stock valued at $137,000 after purchasing an additional 706 shares in the last quarter. 96.41% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE:IEX opened at $220.31 on Friday. The firm has a market cap of $16.75 billion, a P/E ratio of 38.99, a P/E/G ratio of 2.66 and a beta of 1.06. The company has a quick ratio of 2.62, a current ratio of 3.38 and a debt-to-equity ratio of 0.44. IDEX Co. has a 12-month low of $185.23 and a 12-month high of $240.33. The business has a fifty day simple moving average of $232.37 and a 200 day simple moving average of $224.82.

IDEX (NYSE:IEX) last announced its earnings results on Monday, October 25th. The industrial products company reported $1.63 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.59 by $0.04. IDEX had a return on equity of 17.75% and a net margin of 16.20%. The business had revenue of $712.02 million during the quarter, compared to analyst estimates of $697.44 million. During the same period last year, the company earned $1.40 EPS. IDEX’s revenue for the quarter was up 22.5% compared to the same quarter last year. As a group, equities research analysts expect that IDEX Co. will post 6.34 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 28th. Stockholders of record on Friday, January 14th will be given a $0.54 dividend. This represents a $2.16 annualized dividend and a dividend yield of 0.98%. The ex-dividend date is Thursday, January 13th. IDEX’s dividend payout ratio (DPR) is presently 38.23%.

IEX has been the topic of a number of research analyst reports. DA Davidson raised their target price on IDEX from $210.00 to $220.00 and gave the company a “neutral” rating in a report on Thursday, October 28th. Loop Capital started coverage on IDEX in a report on Monday, November 22nd. They issued a “hold” rating and a $234.00 target price on the stock. Robert W. Baird increased their price target on IDEX from $253.00 to $256.00 and gave the company an “outperform” rating in a research note on Thursday, October 7th. Royal Bank of Canada increased their price target on IDEX from $252.00 to $254.00 and gave the company an “outperform” rating in a research note on Thursday, October 28th. Finally, Mizuho started coverage on IDEX in a research note on Thursday, December 16th. They issued a “neutral” rating and a $233.00 price target for the company. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $239.73.

In other news, Director William M. Cook sold 679 shares of the firm’s stock in a transaction dated Monday, November 1st. The stock was sold at an average price of $223.03, for a total value of $151,437.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Daniel J. Salliotte sold 14,763 shares of the firm’s stock in a transaction dated Tuesday, November 9th. The shares were sold at an average price of $235.90, for a total value of $3,482,591.70. The disclosure for this sale can be found here. Company insiders own 0.50% of the company’s stock.

About IDEX

IDEX Corp. engages in the provision of engineering solutions. It operates through the following segments: Fluid and Metering Technologies; Health and Science Technologies and Fire and Safety or Diversified Products. The Fluid and Metering Technologies segment involves in the design, production, and distribution of displacement pumps, valves, flow meters, injectors, and fluid-handling pump modules and systems.

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Institutional Ownership by Quarter for IDEX (NYSE:IEX)

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