IDEX Co. (NYSE:IEX) Shares Acquired by Simmons Bank

Simmons Bank lifted its position in IDEX Co. (NYSE:IEX) by 3.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,717 shares of the industrial products company’s stock after purchasing an additional 100 shares during the period. Simmons Bank’s holdings in IDEX were worth $583,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in IEX. Victory Capital Management Inc. raised its position in shares of IDEX by 1.2% in the third quarter. Victory Capital Management Inc. now owns 58,887 shares of the industrial products company’s stock worth $12,631,000 after acquiring an additional 690 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its holdings in IDEX by 2.7% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 168,023 shares of the industrial products company’s stock worth $36,041,000 after purchasing an additional 4,465 shares during the period. Entropy Technologies LP purchased a new position in IDEX during the third quarter worth approximately $1,931,000. Apollon Wealth Management LLC grew its holdings in IDEX by 7.2% in the third quarter. Apollon Wealth Management LLC now owns 5,979 shares of the industrial products company’s stock valued at $1,283,000 after purchasing an additional 399 shares during the period. Finally, Montanaro Asset Management Ltd increased its position in shares of IDEX by 4.4% in the third quarter. Montanaro Asset Management Ltd now owns 54,400 shares of the industrial products company’s stock valued at $11,669,000 after buying an additional 2,300 shares in the last quarter. 97.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on IEX shares. TD Cowen dropped 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. Argus lowered shares of IDEX from a “buy” rating to a “hold” rating in a research report on Wednesday, August 14th. Royal Bank of Canada boosted their target price on shares of IDEX from $236.00 to $248.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. DA Davidson lowered their price objective on IDEX from $220.00 to $210.00 and set a “neutral” rating on the stock in a report on Monday, August 5th. Finally, Robert W. Baird reduced their target price on IDEX from $245.00 to $241.00 and set an “outperform” rating for the company 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 MarketBeat.com, IDEX has an average rating of “Moderate Buy” and an average price target of $241.14.

IDEX Stock Up 1.3 %

IEX stock opened at $231.00 on Thursday. The company has a current ratio of 2.97, a quick ratio of 2.11 and a debt-to-equity ratio of 0.54. The firm has a 50-day moving average of $210.90 and a two-hundred day moving average of $207.59. IDEX Co. has a 12 month low of $189.51 and a 12 month high of $246.36. The company has a market cap of $17.49 billion, a price-to-earnings ratio of 35.76, a PEG ratio of 2.41 and a beta of 0.96.

IDEX (NYSE:IEX) last posted its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $1.90 EPS for the quarter, beating the consensus estimate of $1.89 by $0.01. The firm had revenue of $798.20 million during the quarter, compared to analysts’ expectations of $793.05 million. IDEX had a return on equity of 15.92% and a net margin of 15.35%. The business’s revenue for the quarter was up .6% on a year-over-year basis. During the same quarter last year, the firm earned $2.12 earnings per share. As a group, analysts forecast that IDEX Co. will post 7.88 earnings per share for the current fiscal year.

IDEX Announces Dividend

The company 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. This represents a $2.76 annualized dividend and a dividend yield of 1.19%. IDEX’s payout ratio is 42.72%.

IDEX 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.