IDEX Co. (NYSE:IEX) Holdings Cut by First Hawaiian Bank

First Hawaiian Bank cut its stake in IDEX Co. (NYSE:IEX) by 4.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,970 shares of the industrial products company’s stock after selling 567 shares during the quarter. First Hawaiian Bank’s holdings in IDEX were worth $2,505,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Catalyst Capital Advisors LLC increased its position in IDEX by 73.8% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 139 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 59 shares during the last quarter. Assetmark Inc. bought a new stake in shares of IDEX in the 3rd quarter valued at approximately $39,000. Livforsakringsbolaget Skandia Omsesidigt increased its holdings in IDEX by 100.0% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 200 shares of the industrial products company’s stock worth $43,000 after buying an additional 100 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in IDEX by 19.9% during the second quarter. EverSource Wealth Advisors LLC now owns 344 shares of the industrial products company’s stock valued at $72,000 after acquiring an additional 57 shares in the last quarter. Finally, Brooklyn Investment Group acquired a new stake in IDEX in the third quarter valued at approximately $86,000. 97.96% of the stock is currently owned by hedge funds and other institutional investors.

IDEX Trading Up 0.4 %

Shares of NYSE:IEX opened at $208.73 on Thursday. IDEX Co. has a 52-week low of $189.51 and a 52-week high of $246.36. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.11 and a current ratio of 2.97. The company has a market cap of $15.81 billion, a P/E ratio of 32.31, a P/E/G ratio of 2.36 and a beta of 0.97. The stock’s 50-day moving average is $221.90 and its 200-day moving average is $209.81.

IDEX (NYSE:IEX) last issued its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $1.90 EPS for the quarter, topping the consensus estimate of $1.89 by $0.01. IDEX had a return on equity of 15.92% and a net margin of 15.35%. The company had revenue of $798.20 million for the quarter, compared to the consensus estimate of $793.05 million. During the same period in the previous year, the business posted $2.12 EPS. The company’s revenue for the quarter was up .6% on a year-over-year basis. Equities research analysts predict that IDEX Co. will post 7.89 earnings per share for the current year.

IDEX Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 17th will be issued a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date of this dividend is Friday, January 17th. IDEX’s dividend payout ratio (DPR) is presently 42.72%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Royal Bank of Canada raised their price target on shares of IDEX from $248.00 to $258.00 and gave the company an “outperform” rating in a report on Friday, December 6th. Stifel Nicolaus raised their target price on IDEX from $244.00 to $256.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Citigroup boosted their price target on IDEX from $251.00 to $269.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Finally, Robert W. Baird lowered their price objective on IDEX from $245.00 to $241.00 and set an “outperform” rating on the stock in a report on Thursday, October 31st. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $243.14.

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.