IDEX Corporation (IEX) Holdings Reduced by Harvey Investment Co. LLC
Harvey Investment Co. LLC lowered its holdings in IDEX Corporation (NYSE:IEX) by 4.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 122,343 shares of the industrial products company’s stock after selling 6,182 shares during the quarter. IDEX Corporation comprises about 2.9% of Harvey Investment Co. LLC’s investment portfolio, making the stock its 12th largest position. Harvey Investment Co. LLC owned 0.16% of IDEX Corporation worth $14,861,000 at the end of the most recent quarter.
A number of other institutional investors have also bought and sold shares of the business. BlackRock Inc. lifted its stake in shares of IDEX Corporation by 8.8% during the second quarter. BlackRock Inc. now owns 6,993,420 shares of the industrial products company’s stock valued at $790,326,000 after acquiring an additional 568,369 shares during the period. Clearbridge Investments LLC lifted its stake in shares of IDEX Corporation by 52.8% during the first quarter. Clearbridge Investments LLC now owns 1,326,704 shares of the industrial products company’s stock valued at $124,060,000 after acquiring an additional 458,726 shares during the period. State Street Corp lifted its stake in shares of IDEX Corporation by 20.6% during the second quarter. State Street Corp now owns 2,396,039 shares of the industrial products company’s stock valued at $270,781,000 after acquiring an additional 409,654 shares during the period. Principal Financial Group Inc. lifted its stake in shares of IDEX Corporation by 59.5% during the second quarter. Principal Financial Group Inc. now owns 904,398 shares of the industrial products company’s stock valued at $102,206,000 after acquiring an additional 337,382 shares during the period. Finally, Vanguard Group Inc. lifted its stake in shares of IDEX Corporation by 5.5% during the first quarter. Vanguard Group Inc. now owns 6,246,396 shares of the industrial products company’s stock valued at $584,099,000 after acquiring an additional 327,970 shares during the period. 98.49% of the stock is currently owned by institutional investors.
IDEX Corporation (NYSE IEX) traded up 0.91% during midday trading on Friday, reaching $125.77. The company had a trading volume of 266,291 shares. IDEX Corporation has a 12-month low of $82.05 and a 12-month high of $125.80. The stock has a 50-day moving average price of $122.23 and a 200 day moving average price of $112.24. The company has a market capitalization of $9.60 billion, a PE ratio of 32.24 and a beta of 1.19.
IDEX Corporation (NYSE:IEX) last announced its earnings results on Monday, October 16th. The industrial products company reported $1.08 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.06 by $0.02. The firm had revenue of $574.50 million for the quarter, compared to the consensus estimate of $563.23 million. IDEX Corporation had a return on equity of 19.07% and a net margin of 13.48%. The business’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.92 EPS. Equities analysts forecast that IDEX Corporation will post $4.26 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Monday, October 16th will be issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 1.18%. The ex-dividend date is Friday, October 13th. IDEX Corporation’s payout ratio is presently 37.95%.
IEX has been the topic of several research reports. BidaskClub lowered IDEX Corporation from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. Zacks Investment Research raised IDEX Corporation from a “hold” rating to a “buy” rating and set a $128.00 price target on the stock in a research note on Tuesday, July 11th. Robert W. Baird reaffirmed a “buy” rating and set a $129.00 price target on shares of IDEX Corporation in a research note on Wednesday, October 4th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $120.00 price target on shares of IDEX Corporation in a research note on Sunday, September 3rd. Eleven analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $113.78.
In other IDEX Corporation news, Chairman Andrew K. Silvernail sold 50,000 shares of IDEX Corporation stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $115.00, for a total transaction of $5,750,000.00. Following the transaction, the chairman now directly owns 142,114 shares of the company’s stock, valued at approximately $16,343,110. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Daniel J. Salliotte sold 6,000 shares of IDEX Corporation stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $115.34, for a total value of $692,040.00. Following the transaction, the senior vice president now directly owns 33,762 shares in the company, valued at $3,894,109.08. The disclosure for this sale can be found here. Insiders have sold a total of 60,000 shares of company stock worth $6,909,200 over the last ninety days. Company insiders own 1.00% of the company’s stock.
IDEX Corporation Company Profile
IDEX Corporation (IDEX) operates an applied solutions business that sells pumps, flow meters and other fluidics systems, and components and engineered products. The Company operates through three segments: Fluid & Metering Technologies (FMT), Health & Science Technologies (HST) and Fire & Safety/Diversified Products (FSDP).
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