IDEX Co. (NYSE:IEX) Shares Sold by Raymond James & Associates
Raymond James & Associates reduced its holdings in IDEX Co. (NYSE:IEX) by 3.1% in Q3, now owning 106,670 shares. Other investors, including Blue Trust Inc. and Net Worth Advisory Group, also adjusted their positions. IDEX's stock opened at $100.48, with a market cap of $4.40 billion and a P/E ratio of 26.77. The company reported earnings of $1.06 per share, exceeding estimates. A quarterly dividend of $0.69 per share will be paid on October 25. Analysts have mixed ratings, with a consensus rating of "Moderate Buy."
Raymond James & Associates reduced its holdings in IDEX Co. (NYSE:IEX - Free Report) by 3.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 106,670 shares of the industrial products company's stock after selling 3,408 shares during the period. Raymond James & Associates owned approximately 0.14% of IDEX worth $22,881,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Blue Trust Inc. boosted its holdings in shares of IDEX by 41.9% during the 3rd quarter. Blue Trust Inc. now owns 481 shares of the industrial products company's stock worth $97,000 after purchasing an additional 142 shares during the last quarter. Net Worth Advisory Group acquired a new position in IDEX during the third quarter worth $553,000. Inspire Advisors LLC purchased a new stake in IDEX in the 3rd quarter valued at $749,000. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in shares of IDEX by 1.6% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 7,527 shares of the industrial products company's stock worth $1,615,000 after acquiring an additional 118 shares during the last quarter. Finally, B.O.S.S. Retirement Advisors LLC raised its holdings in shares of IDEX by 17.3% during the 3rd quarter. B.O.S.S. Retirement Advisors LLC now owns 27,805 shares of the industrial products company's stock worth $5,964,000 after acquiring an additional 4,096 shares during the period. 97.96% of the stock is currently owned by institutional investors and hedge funds.
IDEX Stock Performance
NYSE IEX opened at $203.48 on Friday. The company has a market cap of $15.40 billion, a P/E ratio of 26.77, a P/E/G ratio of 2.20 and a beta of 0.95. IDEX Co. has a 1-year low of $183.76 and a 1-year high of $246.36. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.41 and a quick ratio of 2.52. The stock has a 50-day moving average of $205.83 and a two-hundred day moving average of $208.72.
IDEX (NYSE:IEX - Get Free Report) last announced its earnings results on Wednesday, July 31st. The industrial products company reported $2.06 earnings per share for the quarter, topping the consensus estimate of $2.04 by $0.02. The firm had revenue of $807.20 million for the quarter, compared to the consensus estimate of $828.15 million. IDEX had a net margin of 18.19% and a return on equity of 16.87%. The firm's revenue for the quarter was down 4.6% on a year-over-year basis. During the same period in the prior year, the firm earned $2.18 EPS. As a group, analysts anticipate that IDEX Co. will post 7.88 EPS for the current year.
IDEX Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, October 11th will be issued a dividend of $0.69 per share. The ex-dividend date of this dividend is Friday, October 11th. This represents a $2.76 annualized dividend and a yield of 1.36%. IDEX's dividend payout ratio (DPR) is 36.32%.
Analyst Ratings Changes
IEX has been the subject of several recent analyst reports. Argus cut shares of IDEX from a "buy" rating to a "hold" rating in a research report on Wednesday, August 14th. TD Cowen decreased their price objective on IDEX from $240.00 to $230.00 and set a "buy" rating on the stock in a report on Wednesday, August 7th. StockNews.com cut IDEX from a "buy" rating to a "hold" rating in a research note on Thursday, July 11th. Stifel Nicolaus increased their price target on IDEX from $232.00 to $244.00 and gave the stock a "buy" rating in a report on Wednesday, October 16th. Finally, Oppenheimer reduced their price objective on shares of IDEX from $245.00 to $238.00 and set an "outperform" rating on the stock in a report on Monday, August 5th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, IDEX has a consensus rating of "Moderate Buy" and a consensus price target of $239.43.
Check Out Our Latest Stock Report on IDEX
IDEX Company Profile
(Free Report)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.
Read More
- Five stocks we like better than IDEX
- Bank Stocks - Best Bank Stocks to Invest In
- Why Meta's Pre-Earnings Dip Could Be A Golden Entry Opportunity
- Want to Profit on the Downtrend? Downtrends, Explained.
- Spirit Airlines Stock Nearly Doubled: Are Clear Skies Ahead?
- How to Use High Beta Stocks to Maximize Your Investing Profits
- Tesla Stock: Buy the Dips, Sell the Rips
Want to see what other hedge funds are holding IEX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for IDEX Co. (NYSE:IEX - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
→ [Urgent] Starlink Set For The Largest IPO In History? (From Paradigm Press) (Ad)
Should you invest $1,000 in IDEX right now?
Before you consider IDEX, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and IDEX wasn't on the list.
While IDEX currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
