Wellington Management Group LLP Increases Stock Position in IDEX Co. (NYSE:IEX)

Wellington Management Group LLP boosted its holdings in IDEX Co. (NYSE:IEX) by 108.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,830,929 shares of the industrial products company’s stock after purchasing an additional 1,472,456 shares during the quarter. Wellington Management Group LLP owned about 3.74% of IDEX worth $607,234,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Van ECK Associates Corp raised its holdings in shares of IDEX by 9,424.6% in the third quarter. Van ECK Associates Corp now owns 1,032,277 shares of the industrial products company’s stock valued at $211,473,000 after buying an additional 1,021,439 shares during the last quarter. Champlain Investment Partners LLC lifted its position 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 during the period. Hsbc Holdings PLC grew its stake in shares of IDEX by 75.6% in the 2nd quarter. Hsbc Holdings PLC now owns 519,124 shares of the industrial products company’s stock valued at $104,179,000 after purchasing an additional 223,422 shares during the last quarter. D. E. Shaw & Co. Inc. increased its holdings in shares of IDEX by 247.0% in the second quarter. D. E. Shaw & Co. Inc. now owns 198,170 shares of the industrial products company’s stock valued at $39,872,000 after purchasing an additional 141,064 shares during the period. Finally, Millennium Management LLC raised its stake in shares of IDEX by 1,541.6% during the second quarter. Millennium Management LLC now owns 138,744 shares of the industrial products company’s stock worth $27,915,000 after purchasing an additional 130,292 shares during the last quarter. Institutional investors and hedge funds own 97.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on IEX shares. Royal Bank of Canada lifted their price objective on shares of IDEX from $248.00 to $258.00 and gave the company an “outperform” rating in a research report on Friday. Argus cut shares of IDEX from a “buy” rating to a “hold” rating in a report on Wednesday, August 14th. 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. Finally, Stifel Nicolaus increased their target price on IDEX from $232.00 to $244.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $242.57.

IDEX Trading Up 0.6 %

Shares of IDEX stock opened at $229.71 on Friday. The company has a 50-day moving average of $219.43 and a two-hundred day moving average of $208.51. The stock has a market cap of $17.39 billion, a PE ratio of 35.56, a price-to-earnings-growth ratio of 2.41 and a beta of 0.96. 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 Co. has a 12-month low of $189.51 and a 12-month high of $246.36.

IDEX (NYSE:IEX) last released its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $1.90 earnings per share 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 the consensus estimate of $793.05 million. IDEX had a return on equity of 15.92% and a net margin of 15.35%. IDEX’s quarterly revenue was up .6% on a year-over-year basis. During the same period last year, the business posted $2.12 EPS. On average, research analysts anticipate that IDEX Co. will post 7.89 EPS 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 issued a $0.69 dividend. The ex-dividend date is Friday, January 17th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.20%. IDEX’s dividend payout ratio (DPR) is 42.72%.

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.