Fifth Third Bancorp Decreases Position in IDEX Co. (NYSE:IEX)

Fifth Third Bancorp trimmed its position in shares of IDEX Co. (NYSE:IEXFree Report) by 3.6% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,071 shares of the industrial products company’s stock after selling 77 shares during the quarter. Fifth Third Bancorp’s holdings in IDEX were worth $433,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in IEX. State Street Corp boosted its holdings in shares of IDEX by 0.5% during the 3rd quarter. State Street Corp now owns 3,017,976 shares of the industrial products company’s stock worth $647,356,000 after purchasing an additional 15,077 shares during the last quarter. Wellington Management Group LLP boosted its stake in IDEX by 108.4% during the third quarter. Wellington Management Group LLP now owns 2,830,929 shares of the industrial products company’s stock worth $607,234,000 after buying an additional 1,472,456 shares during the period. Geode Capital Management LLC raised its position in IDEX by 1.3% in the third quarter. Geode Capital Management LLC now owns 1,891,175 shares of the industrial products company’s stock valued at $404,339,000 after purchasing an additional 23,388 shares during the period. Champlain Investment Partners LLC lifted its stake in IDEX by 28.8% during the 3rd quarter. Champlain Investment Partners LLC now owns 1,223,676 shares of the industrial products company’s stock worth $262,479,000 after acquiring an additional 273,460 shares in the last quarter. Finally, Barclays PLC boosted its position in IDEX by 1.2% in the 3rd quarter. Barclays PLC now owns 1,177,645 shares of the industrial products company’s stock valued at $252,603,000 after buying an additional 14,360 shares during the period. Hedge funds and other institutional investors own 97.96% of the company’s stock.

IDEX Stock Up 2.3 %

Shares of IDEX stock opened at $224.02 on Friday. The company has a fifty day moving average price of $219.07 and a 200 day moving average price of $211.76. The stock has a market cap of $16.96 billion, a price-to-earnings ratio of 34.68, a price-to-earnings-growth ratio of 2.17 and a beta of 0.97. IDEX Co. has a twelve month low of $189.51 and a twelve month high of $246.36. The company has a current ratio of 2.97, a quick ratio of 2.11 and a debt-to-equity ratio of 0.54.

IDEX (NYSE:IEXGet Free Report) last released 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 firm had revenue of $798.20 million for the quarter, compared to analyst estimates of $793.05 million. During the same period in the previous year, the company posted $2.12 EPS. IDEX’s revenue for the quarter was up .6% on a year-over-year basis. Equities research analysts forecast that IDEX Co. will post 7.89 earnings per share for the current fiscal year.

IDEX Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 17th will be given a dividend of $0.69 per share. The ex-dividend date of this dividend is Friday, January 17th. This represents a $2.76 annualized dividend and a dividend yield of 1.23%. IDEX’s payout ratio is 42.72%.

Analyst Upgrades and Downgrades

IEX has been the topic of several recent research reports. Robert W. Baird cut their price target on IDEX from $245.00 to $241.00 and set an “outperform” rating on the stock in a report on Thursday, October 31st. Citigroup decreased their price target on shares of IDEX from $269.00 to $267.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Royal Bank of Canada upped their price target on IDEX from $248.00 to $258.00 and gave the stock an “outperform” rating in a research note on Friday, December 6th. Finally, Stifel Nicolaus boosted their target price on IDEX from $244.00 to $256.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $242.86.

Read Our Latest Stock Report on IDEX

IDEX Profile

(Free Report)

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.

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Institutional Ownership by Quarter for IDEX (NYSE:IEX)

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