Barclays PLC Grows Position in IDEX Co. (NYSE:IEX)

Barclays PLC lifted its position in shares of IDEX Co. (NYSE:IEX) by 1.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,177,645 shares of the industrial products company’s stock after purchasing an additional 14,360 shares during the quarter. Barclays PLC’s holdings in IDEX were worth $252,603,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. State Street Corp boosted its position in IDEX by 0.5% during the third 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 in the last quarter. Wellington Management Group LLP lifted its position in shares of IDEX by 108.4% during the 3rd quarter. Wellington Management Group LLP now owns 2,830,929 shares of the industrial products company’s stock valued at $607,234,000 after buying an additional 1,472,456 shares in the last quarter. Champlain Investment Partners LLC grew its stake in IDEX by 28.8% in the 3rd quarter. Champlain Investment Partners LLC now owns 1,223,676 shares of the industrial products company’s stock valued at $262,479,000 after acquiring an additional 273,460 shares during the period. Van ECK Associates Corp increased its holdings in IDEX by 9,424.6% in the 3rd quarter. Van ECK Associates Corp now owns 1,032,277 shares of the industrial products company’s stock worth $211,473,000 after acquiring an additional 1,021,439 shares in the last quarter. Finally, King Luther Capital Management Corp raised its position in IDEX by 16.2% during the third quarter. King Luther Capital Management Corp now owns 742,724 shares of the industrial products company’s stock worth $159,314,000 after acquiring an additional 103,432 shares during the period. 97.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Citigroup lifted their target price on shares of IDEX from $251.00 to $269.00 and gave the company a “buy” rating in a research report on Monday. Royal Bank of Canada lifted their price objective on IDEX from $248.00 to $258.00 and gave the stock an “outperform” rating in a report on Friday. Argus cut IDEX from a “buy” rating to a “hold” rating in a report on Wednesday, August 14th. Robert W. Baird dropped their price target on IDEX from $245.00 to $241.00 and set an “outperform” rating for the company in a research report on Thursday, October 31st. Finally, Stifel Nicolaus increased their price objective on IDEX from $232.00 to $244.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $241.43.

IDEX Price Performance

NYSE:IEX opened at $229.56 on Tuesday. The stock has a 50 day moving average price of $219.73 and a 200 day moving average price of $208.48. The stock has a market cap of $17.38 billion, a PE ratio of 35.54, a P/E/G ratio of 2.43 and a beta of 0.96. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.11 and a current ratio of 2.97. IDEX Co. has a one year low of $189.51 and a one year high of $246.36.

IDEX (NYSE:IEX) last issued its earnings results on Tuesday, October 29th. The industrial products company reported $1.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.89 by $0.01. The business 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%. The company’s revenue for the quarter was up .6% on a year-over-year basis. During the same period last year, the company earned $2.12 EPS. Equities research analysts expect that IDEX Co. will post 7.89 EPS for the current fiscal year.

IDEX Dividend Announcement

The company also recently announced 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. The ex-dividend date is Friday, January 17th. This represents a $2.76 annualized dividend and a yield of 1.20%. IDEX’s payout ratio 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.