Prudential Financial Inc. decreased its holdings in IDEX Co. (NYSE:IEX) by 17.7% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 59,942 shares of the industrial products company’s stock after selling 12,870 shares during the quarter. Prudential Financial Inc. owned approximately 0.08% of IDEX worth $9,474,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also modified their holdings of IEX. Ceredex Value Advisors LLC bought a new position in IDEX in the 1st quarter valued at $80,845,000. Impax Asset Management Group plc raised its position in IDEX by 24.5% in the 1st quarter. Impax Asset Management Group plc now owns 1,896,630 shares of the industrial products company’s stock valued at $261,944,000 after purchasing an additional 372,906 shares during the last quarter. Victory Capital Management Inc. raised its position in IDEX by 108.0% in the 2nd quarter. Victory Capital Management Inc. now owns 672,721 shares of the industrial products company’s stock valued at $106,316,000 after purchasing an additional 349,253 shares during the last quarter. BlackRock Inc. raised its position in IDEX by 4.1% in the 1st quarter. BlackRock Inc. now owns 6,949,688 shares of the industrial products company’s stock valued at $959,822,000 after purchasing an additional 271,940 shares during the last quarter. Finally, Wellington Management Group LLP raised its position in shares of IDEX by 10.4% during the first quarter. Wellington Management Group LLP now owns 2,788,497 shares of the industrial products company’s stock worth $385,117,000 after acquiring an additional 261,557 shares during the last quarter. Hedge funds and other institutional investors own 97.01% of the company’s stock.
In other IDEX news, SVP Jeffrey D. Bucklew sold 5,000 shares of the business’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $178.50, for a total value of $892,500.00. Also, SVP Jeffrey D. Bucklew sold 1,936 shares of the business’s stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $180.90, for a total value of $350,222.40. Following the completion of the transaction, the senior vice president now directly owns 740 shares of the company’s stock, valued at $133,866. The disclosure for this sale can be found here. Over the last three months, insiders sold 112,646 shares of company stock valued at $19,098,583. Insiders own 1.10% of the company’s stock.
NYSE IEX opened at $182.08 on Wednesday. The stock has a 50-day simple moving average of $171.61 and a 200 day simple moving average of $156.10. The company has a market capitalization of $13.61 billion, a PE ratio of 37.24, a P/E/G ratio of 3.84 and a beta of 1.07. The company has a current ratio of 3.48, a quick ratio of 2.67 and a debt-to-equity ratio of 0.46. IDEX Co. has a 12 month low of $104.56 and a 12 month high of $182.56.
IDEX (NYSE:IEX) last posted its earnings results on Friday, July 24th. The industrial products company reported $1.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.10. IDEX had a return on equity of 18.15% and a net margin of 15.71%. The firm had revenue of $561.25 million during the quarter, compared to analysts’ expectations of $526.69 million. During the same period in the previous year, the firm earned $1.50 earnings per share. As a group, sell-side analysts predict that IDEX Co. will post 4.69 earnings per share for the current fiscal year.
IEX has been the subject of a number of recent research reports. Oppenheimer initiated coverage on IDEX in a research report on Wednesday, May 6th. They set a “hold” rating for the company. Rosenblatt Securities boosted their target price on IDEX from $172.00 to $178.00 and gave the stock a “buy” rating in a research report on Sunday, July 26th. Boenning Scattergood upgraded IDEX from a “neutral” rating to an “outperform” rating in a research report on Friday, July 24th. Wells Fargo & Co boosted their target price on IDEX from $200.00 to $215.00 and gave the stock an “overweight” rating in a research report on Monday, July 27th. Finally, Stifel Nicolaus boosted their target price on IDEX from $172.00 to $195.00 and gave the stock a “buy” rating in a research report on Monday, July 27th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $171.83.
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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