AQR Capital Management LLC Boosts Stock Position in IDEX Co. (NYSE:IEX)

AQR Capital Management LLC increased its holdings in shares of IDEX Co. (NYSE:IEX) by 1.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,227 shares of the industrial products company’s stock after buying an additional 288 shares during the period. AQR Capital Management LLC’s holdings in IDEX were worth $5,076,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in IEX. Boston Trust Walden Corp lifted its holdings in IDEX by 3.3% during the second quarter. Boston Trust Walden Corp now owns 223,892 shares of the industrial products company’s stock valued at $45,047,000 after purchasing an additional 7,222 shares in the last quarter. Qsemble Capital Management LP acquired a new stake in IDEX in the 2nd quarter worth about $3,627,000. SG Americas Securities LLC increased its stake in IDEX by 241.3% during the 1st quarter. SG Americas Securities LLC now owns 37,561 shares of the industrial products company’s stock worth $9,166,000 after buying an additional 26,557 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in shares of IDEX by 90.1% during the first quarter. BNP Paribas Financial Markets now owns 69,984 shares of the industrial products company’s stock valued at $17,077,000 after acquiring an additional 33,162 shares during the last quarter. Finally, Swedbank AB purchased a new position in shares of IDEX in the first quarter valued at approximately $11,765,000. Institutional investors and hedge funds own 97.96% of the company’s stock.

IDEX Stock Performance

NYSE:IEX opened at $211.10 on Friday. The company’s 50-day moving average is $202.25 and its two-hundred day moving average is $212.11. IDEX Co. has a 1-year low of $183.76 and a 1-year high of $246.36. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.41 and a quick ratio of 2.52. The firm has a market capitalization of $15.98 billion, a price-to-earnings ratio of 27.78, a PEG ratio of 2.22 and a beta of 0.95.

IDEX (NYSE:IEX) last released its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $2.06 EPS for the quarter, beating analysts’ consensus estimates of $2.04 by $0.02. The firm had revenue of $807.20 million for the quarter, compared to analysts’ expectations of $828.15 million. IDEX had a return on equity of 16.87% and a net margin of 18.19%. The firm’s quarterly revenue was down 4.6% on a year-over-year basis. During the same period in the prior year, the firm posted $2.18 earnings per share. Analysts forecast that IDEX Co. will post 7.88 EPS for the current year.

IDEX Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, October 11th will be given a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date is Friday, October 11th. IDEX’s payout ratio is 36.32%.

Analyst Ratings Changes

Several analysts recently commented on IEX shares. StockNews.com cut IDEX from a “buy” rating to a “hold” rating in a research report on Thursday, July 11th. Oppenheimer dropped 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. TD Cowen decreased their price target on shares of IDEX from $240.00 to $230.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Royal Bank of Canada dropped their price objective on shares of IDEX from $250.00 to $236.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. Finally, Stifel Nicolaus decreased their target price on shares of IDEX from $265.00 to $236.00 and set a “buy” rating on the stock in a research note on Thursday, July 18th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, IDEX presently has an average rating of “Moderate Buy” and a consensus price target of $233.50.

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.