Czech National Bank Buys 997 Shares of IDEX Co. (NYSE:IEX)

Czech National Bank lifted its position in IDEX Co. (NYSE:IEX) by 6.9% during the 3rd quarter, Holdings Channel reports. The firm owned 15,421 shares of the industrial products company’s stock after buying an additional 997 shares during the quarter. Czech National Bank’s holdings in IDEX were worth $3,308,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Riverview Trust Co acquired a new position in IDEX in the first quarter valued at about $35,000. Quarry LP acquired a new position in shares of IDEX in the 4th quarter worth approximately $36,000. EdgeRock Capital LLC bought a new stake in IDEX during the 2nd quarter worth approximately $41,000. Whittier Trust Co. increased its holdings in IDEX by 38.4% during the 2nd quarter. Whittier Trust Co. now owns 209 shares of the industrial products company’s stock valued at $42,000 after purchasing an additional 58 shares in the last quarter. Finally, UMB Bank n.a. raised its position in IDEX by 31.0% in the 2nd quarter. UMB Bank n.a. now owns 241 shares of the industrial products company’s stock valued at $48,000 after purchasing an additional 57 shares during the last quarter. Institutional investors and hedge funds own 97.96% of the company’s stock.

IDEX Trading Up 1.8 %

IEX opened at $211.49 on Friday. The firm has a 50 day simple moving average of $202.97 and a 200 day simple moving average of $210.74. IDEX Co. has a fifty-two week low of $183.76 and a fifty-two week high of $246.36. The company has a market cap of $16.01 billion, a price-to-earnings ratio of 27.68, a price-to-earnings-growth ratio of 2.20 and a beta of 0.95. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.41 and a quick ratio of 2.52.

IDEX (NYSE:IEX) last issued its earnings results on Wednesday, July 31st. The industrial products company reported $2.06 EPS for the quarter, beating the consensus estimate of $2.04 by $0.02. IDEX had a net margin of 18.19% and a return on equity of 16.87%. The company had revenue of $807.20 million during the quarter, compared to analysts’ expectations of $828.15 million. During the same quarter in the previous year, the company posted $2.18 EPS. The business’s revenue for the quarter was down 4.6% compared to the same quarter last year. On average, sell-side analysts anticipate that IDEX Co. will post 7.88 earnings per share for the current year.

IDEX Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, October 11th will be issued a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date of this dividend is Friday, October 11th. IDEX’s dividend payout ratio (DPR) is currently 36.13%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on IEX. Royal Bank of Canada decreased their target price on IDEX from $250.00 to $236.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. Oppenheimer decreased their price objective on shares of IDEX from $245.00 to $238.00 and set an “outperform” rating on the stock in a report on Monday, August 5th. DA Davidson dropped their target price on shares of IDEX from $220.00 to $210.00 and set a “neutral” rating for the company in a research note on Monday, August 5th. StockNews.com cut shares of IDEX from a “buy” rating to a “hold” rating in a research note on Thursday, July 11th. Finally, Stifel Nicolaus dropped their price objective on shares of IDEX from $265.00 to $236.00 and set a “buy” rating for the company in a research report on Thursday, July 18th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $238.29.

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.