Checchi Capital Advisers LLC Acquires 67 Shares of IDEX Co. (NYSE:IEX)

Checchi Capital Advisers LLC raised its stake in shares of IDEX Co. (NYSE:IEX) by 5.1% during the 2nd quarter, Holdings Channel.com reports. The fund owned 1,385 shares of the industrial products company’s stock after purchasing an additional 67 shares during the quarter. Checchi Capital Advisers LLC’s holdings in IDEX were worth $279,000 as of its most recent filing with the SEC.

Other institutional investors have also recently made changes to their positions in the company. Norges Bank bought a new position in IDEX during the fourth quarter valued at approximately $237,425,000. Price T Rowe Associates Inc. MD boosted its stake in shares of IDEX by 7.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,964,956 shares of the industrial products company’s stock worth $1,943,609,000 after buying an additional 555,250 shares during the last quarter. Public Employees Retirement Association of Colorado grew its holdings in shares of IDEX by 4,080.8% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 313,725 shares of the industrial products company’s stock worth $68,113,000 after acquiring an additional 306,221 shares during the period. Maren Capital LLC purchased a new stake in IDEX during the fourth quarter valued at $49,789,000. Finally, Nordea Investment Management AB lifted its holdings in IDEX by 151.9% in the first quarter. Nordea Investment Management AB now owns 342,170 shares of the industrial products company’s stock valued at $83,767,000 after acquiring an additional 206,345 shares during the period. Hedge funds and other institutional investors own 97.96% of the company’s stock.

IDEX Price Performance

NYSE:IEX opened at $203.18 on Thursday. The business’s 50-day simple moving average is $200.03 and its two-hundred day simple moving average is $217.27. IDEX Co. has a 52 week low of $183.76 and a 52 week high of $246.36. The stock has a market cap of $15.38 billion, a PE ratio of 26.73, a P/E/G ratio of 2.08 and a beta of 0.95. The company has a quick ratio of 2.45, a current ratio of 3.41 and a debt-to-equity ratio of 0.36.

IDEX (NYSE:IEX) last issued its earnings results on Wednesday, July 31st. The industrial products company reported $2.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.04 by $0.02. IDEX had a return on equity of 16.87% and a net margin of 18.19%. The company had revenue of $807.20 million for the quarter, compared to the consensus estimate of $828.15 million. During the same quarter last year, the company earned $2.18 EPS. The firm’s quarterly revenue was down 4.6% on a year-over-year basis. As a group, analysts forecast that IDEX Co. will post 7.85 EPS for the current fiscal year.

IDEX Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 26th. Investors of record on Friday, July 12th were given a dividend of $0.69 per share. The ex-dividend date was Friday, July 12th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.36%. IDEX’s dividend payout ratio is 36.32%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on IEX shares. Argus lowered shares of IDEX from a “buy” rating to a “hold” rating in a research report on Wednesday, August 14th. Oppenheimer reduced their target price on shares of IDEX from $245.00 to $238.00 and set an “outperform” rating for the company in a report on Monday, August 5th. StockNews.com downgraded shares of IDEX from a “buy” rating to a “hold” rating in a research report on Thursday, July 11th. Royal Bank of Canada cut their price objective on shares of IDEX from $250.00 to $236.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Finally, Robert W. Baird cut their price objective on shares of IDEX from $256.00 to $241.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, IDEX presently has a consensus rating of “Moderate Buy” and an average target price of $233.50.

About IDEX

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.