IDEX Corporation $IEX Stock Position Raised by Machina Capital S.A.S.

Machina Capital S.A.S. raised its position in shares of IDEX Corporation (NYSE:IEX) by 100.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 17,389 shares of the industrial products company’s stock after purchasing an additional 8,711 shares during the quarter. Machina Capital S.A.S.’s holdings in IDEX were worth $3,964,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of IEX. Burkett Financial Services LLC purchased a new stake in shares of IDEX in the third quarter worth $27,000. Optiver Holding B.V. bought a new stake in shares of IDEX during the 1st quarter valued at $27,000. Quantbot Technologies LP bought a new stake in shares of IDEX during the 2nd quarter valued at $33,000. Elevation Wealth Partners LLC lifted its stake in shares of IDEX by 42.7% during the 3rd quarter. Elevation Wealth Partners LLC now owns 147 shares of the industrial products company’s stock valued at $34,000 after buying an additional 44 shares in the last quarter. Finally, Laurel Wealth Advisors LLC purchased a new position in shares of IDEX during the 3rd quarter valued at $34,000. 97.96% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. KeyCorp raised shares of IDEX to a “hold” rating in a report on Monday, October 12th. Stifel Nicolaus increased their price target on IDEX from $267.00 to $273.00 and gave the stock a “buy” rating in a research note on Thursday, October 29th. Royal Bank Of Canada began coverage on IDEX in a report on Thursday, October 29th. They set a “moderate buy” rating and a $283.00 price target on the stock. Oppenheimer boosted their price objective on IDEX from $275.00 to $280.00 and gave the company an “outperform” rating in a research report on Thursday, October 29th. Finally, DA Davidson set a $245.00 price objective on IDEX in a research report on Thursday, October 29th. Nine equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, IDEX has an average rating of “Moderate Buy” and a consensus price target of $263.64.

IDEX Trading Up 1.3%

IEX stock opened at $239.93 on Thursday. IDEX Corporation has a 1-year low of $160.60 and a 1-year high of $243.80. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.78 and a quick ratio of 1.95. The company has a market capitalization of $17.62 billion, a price-to-earnings ratio of 33.32, a PEG ratio of 2.65 and a beta of 0.95. The business has a 50 day simple moving average of $230.52 and a two-hundred day simple moving average of $217.53.

IDEX (NYSE:IEX) last released its quarterly earnings data on Wednesday, October 28th. The industrial products company reported $2.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.24 by $0.09. The firm had revenue of $951.70 million for the quarter, compared to analysts’ expectations of $934.36 million. IDEX had a net margin of 14.65% and a return on equity of 16.18%. The company’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same quarter last year, the business posted $2.03 earnings per share. Research analysts anticipate that IDEX Corporation will post 8.95 EPS for the current fiscal year.

IDEX Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 27th. Investors of record on Wednesday, January 13th will be given a dividend of $0.73 per share. The ex-dividend date is Wednesday, January 13th. This represents a $2.92 dividend on an annualized basis and a dividend yield of 1.2%. IDEX’s dividend payout ratio is currently 40.56%.

IDEX Company Profile

IDEX Corporation is a diversified manufacturer of engineered products and technologies used in industrial, life sciences, fire and safety, and other specialized markets. Its offerings include pumps, valves, flow meters and dispensing equipment, as well as components and instruments used in fluidics, medical technology and scientific applications. The company also supplies fire and rescue equipment, including tools and water-handling products. IDEX serves customers around the world through its operating businesses, which sell products for applications ranging from manufacturing and energy to healthcare and emergency response.