BB&T Corp lowered its position in IDEX Co. (NYSE:IEX) by 9.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 73,719 shares of the industrial products company’s stock after selling 7,733 shares during the quarter. BB&T Corp’s holdings in IDEX were worth $11,106,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also recently modified their holdings of IEX. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in shares of IDEX by 9.6% during the first quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 28,715 shares of the industrial products company’s stock worth $4,092,000 after purchasing an additional 2,505 shares in the last quarter. Lord Abbett & CO. LLC lifted its stake in shares of IDEX by 32.9% during the first quarter. Lord Abbett & CO. LLC now owns 93,274 shares of the industrial products company’s stock worth $13,292,000 after purchasing an additional 23,078 shares in the last quarter. Bayesian Capital Management LP acquired a new position in shares of IDEX during the first quarter worth about $257,000. United Capital Financial Advisers LLC lifted its stake in shares of IDEX by 31.7% during the first quarter. United Capital Financial Advisers LLC now owns 2,329 shares of the industrial products company’s stock worth $332,000 after purchasing an additional 561 shares in the last quarter. Finally, Guggenheim Capital LLC lifted its stake in shares of IDEX by 1.8% during the first quarter. Guggenheim Capital LLC now owns 246,656 shares of the industrial products company’s stock worth $35,152,000 after purchasing an additional 4,369 shares in the last quarter. Hedge funds and other institutional investors own 95.10% of the company’s stock.
NYSE:IEX opened at $137.36 on Thursday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 2.39 and a current ratio of 3.21. IDEX Co. has a one year low of $123.23 and a one year high of $157.84. The stock has a market capitalization of $11.55 billion, a P/E ratio of 31.87, a price-to-earnings-growth ratio of 2.57 and a beta of 1.20.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 31st. Investors of record on Tuesday, October 16th will be paid a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 1.25%. The ex-dividend date of this dividend is Monday, October 15th. IDEX’s dividend payout ratio (DPR) is 39.91%.
IEX has been the topic of a number of recent research reports. BMO Capital Markets restated a “hold” rating and set a $150.00 price objective on shares of IDEX in a research note on Thursday, July 26th. Royal Bank of Canada restated a “hold” rating and set a $144.00 price objective on shares of IDEX in a research note on Friday, July 13th. Zacks Investment Research cut IDEX from a “hold” rating to a “sell” rating in a research note on Monday, July 9th. Stifel Nicolaus boosted their price target on IDEX from $149.00 to $150.00 and gave the stock a “hold” rating in a research note on Monday, October 8th. Finally, Boenning Scattergood assumed coverage on IDEX in a research note on Thursday, October 11th. They issued a “neutral” rating on the stock. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $148.20.
In related news, Chairman Andrew K. Silvernail sold 94,045 shares of the business’s stock in a transaction dated Wednesday, July 25th. The stock was sold at an average price of $145.00, for a total value of $13,636,525.00. Following the completion of the sale, the chairman now directly owns 149,451 shares of the company’s stock, valued at $21,670,395. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Michael J. Yates sold 1,030 shares of the business’s stock in a transaction dated Wednesday, August 29th. The shares were sold at an average price of $155.91, for a total value of $160,587.30. Following the completion of the sale, the vice president now directly owns 27,602 shares of the company’s stock, valued at $4,303,427.82. The disclosure for this sale can be found here. In the last quarter, insiders sold 139,858 shares of company stock worth $20,573,870. Insiders own 1.20% of the company’s stock.
IDEX Company Profile
IDEX Corporation, through its subsidiaries, provides various pumps, valves, flow meters, other fluidics systems and components, and engineered products worldwide. Its Fluid & Metering Technologies segment designs, produces, and distributes positive displacement pumps, flow meters, injectors, other fluid-handling pump modules and systems, and specialty valve products, as well as offers flow monitoring and other services for food, chemical, general industrial, water and wastewater, agricultural, and energy industries.
Recommended Story: Price to Earnings Ratio (PE), For Valuing Stocks
Want to see what other hedge funds are holding IEX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for IDEX Co. (NYSE:IEX).
Receive News & Ratings for IDEX Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for IDEX and related companies with MarketBeat.com's FREE daily email newsletter.