Evelyn Partners Investment Management Services Ltd Has $2.42 Million Stock Position in IDEX Corporation $IEX

Evelyn Partners Investment Management Services Ltd increased its position in shares of IDEX Corporation (NYSE:IEX) by 18.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,763 shares of the industrial products company’s stock after buying an additional 2,112 shares during the period. Evelyn Partners Investment Management Services Ltd’s holdings in IDEX were worth $2,416,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. increased its holdings in shares of IDEX by 257.5% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 143 shares of the industrial products company’s stock worth $25,000 after acquiring an additional 103 shares during the last quarter. American National Bank & Trust bought a new position in shares of IDEX in the second quarter valued at about $25,000. Steph & Co. acquired a new stake in shares of IDEX during the 2nd quarter worth about $42,000. SVB Wealth LLC acquired a new position in IDEX in the 1st quarter valued at about $56,000. Finally, Federated Hermes Inc. grew its stake in IDEX by 42.9% in the 1st quarter. Federated Hermes Inc. now owns 333 shares of the industrial products company’s stock valued at $60,000 after buying an additional 100 shares during the last quarter. Institutional investors and hedge funds own 97.96% of the company’s stock.

Analyst Upgrades and Downgrades

IEX has been the topic of a number of recent research reports. Royal Bank Of Canada dropped their price target on IDEX from $200.00 to $195.00 and set an “outperform” rating for the company in a report on Thursday, October 30th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of IDEX in a research report on Wednesday, October 8th. DA Davidson set a $180.00 price target on IDEX and gave the stock a “neutral” rating in a research report on Monday, August 4th. Oppenheimer set a $210.00 price objective on IDEX in a report on Tuesday, October 7th. Finally, Stifel Nicolaus cut their target price on IDEX from $204.00 to $191.00 and set a “buy” rating for the company in a research report on Monday, October 20th. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $198.86.

IDEX Price Performance

IDEX stock opened at $170.72 on Friday. The company has a market capitalization of $12.78 billion, a PE ratio of 27.01, a P/E/G ratio of 1.83 and a beta of 1.04. IDEX Corporation has a 12 month low of $153.36 and a 12 month high of $237.38. The stock has a 50-day moving average price of $165.27 and a two-hundred day moving average price of $171.78. The company has a current ratio of 2.93, a quick ratio of 2.13 and a debt-to-equity ratio of 0.47.

IDEX (NYSE:IEX) last released its quarterly earnings results on Friday, December 16th. The industrial products company reported $1.79 EPS for the quarter. The firm had revenue of $712.00 million for the quarter. IDEX had a return on equity of 15.20% and a net margin of 13.97%. Analysts expect that IDEX Corporation will post 8.26 EPS for the current year.

IDEX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 30th. Shareholders of record on Friday, January 16th will be issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date is Friday, January 16th. IDEX’s dividend payout ratio (DPR) is presently 44.94%.

IDEX declared that its board has initiated a share repurchase program on Thursday, September 18th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the industrial products company to repurchase up to 8.3% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

IDEX Profile

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.