Riverview Trust Co Buys Shares of 142 IDEX Co. (NYSE:IEX)

Riverview Trust Co bought a new stake in shares of IDEX Co. (NYSE:IEX) in the 1st quarter, according to its most recent 13F filing with the SEC. The firm bought 142 shares of the industrial products company’s stock, valued at approximately $35,000.

Several other hedge funds have also recently added to or reduced their stakes in IEX. Planned Solutions Inc. purchased a new position in IDEX during the 4th quarter valued at about $33,000. Quarry LP purchased a new stake in shares of IDEX during the fourth quarter worth about $36,000. EdgeRock Capital LLC purchased a new stake in shares of IDEX during the fourth quarter worth about $48,000. VisionPoint Advisory Group LLC purchased a new stake in shares of IDEX during the fourth quarter worth about $50,000. Finally, Headlands Technologies LLC purchased a new stake in shares of IDEX during the fourth quarter worth about $52,000. 97.96% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on IEX. Royal Bank of Canada reiterated an “outperform” rating and set a $255.00 price target on shares of IDEX in a report on Thursday, March 21st. Oppenheimer lifted their price target on shares of IDEX from $245.00 to $252.00 and gave the stock an “outperform” rating in a report on Thursday, April 18th. StockNews.com upgraded shares of IDEX from a “hold” rating to a “buy” rating in a report on Saturday, May 18th. Citigroup boosted their target price on shares of IDEX from $254.00 to $277.00 and gave the company a “buy” rating in a report on Monday, April 8th. Finally, Robert W. Baird lowered their target price on shares of IDEX from $260.00 to $256.00 and set an “outperform” rating for the company in a report on Thursday, April 25th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, IDEX presently has a consensus rating of “Moderate Buy” and an average target price of $250.71.

IDEX Price Performance

IDEX stock opened at $199.99 on Wednesday. The company has a market cap of $15.14 billion, a price-to-earnings ratio of 26.31, a PEG ratio of 2.05 and a beta of 0.99. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.45 and a current ratio of 3.37. IDEX Co. has a 1 year low of $183.76 and a 1 year high of $246.36. The firm has a 50 day moving average price of $214.77 and a 200 day moving average price of $221.47.

IDEX (NYSE:IEX) last announced its quarterly earnings results on Tuesday, April 23rd. The industrial products company reported $1.88 earnings per share for the quarter, beating analysts’ consensus estimates of $1.76 by $0.12. The firm had revenue of $801.00 million for the quarter, compared to analysts’ expectations of $807.52 million. IDEX had a net margin of 17.89% and a return on equity of 17.60%. IDEX’s revenue was down 5.3% compared to the same quarter last year. During the same period in the previous year, the company posted $2.09 earnings per share. Sell-side analysts predict that IDEX Co. will post 8.31 earnings per share for the current year.

IDEX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Friday, July 12th will be given a dividend of $0.69 per share. The ex-dividend date of this dividend is Friday, July 12th. This represents a $2.76 dividend on an annualized basis and a yield of 1.38%. IDEX’s dividend payout ratio (DPR) is 36.32%.

IDEX Company 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.