Huntington National Bank Purchases 116 Shares of IDEX Co. (NYSE:IEX)

Huntington National Bank increased its position in shares of IDEX Co. (NYSE:IEX) by 22.5% during the 3rd quarter, Holdings Channel reports. The firm owned 631 shares of the industrial products company’s stock after acquiring an additional 116 shares during the period. Huntington National Bank’s holdings in IDEX were worth $135,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of IEX. Catalyst Capital Advisors LLC increased its stake in IDEX by 73.8% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 139 shares of the industrial products company’s stock worth $30,000 after buying an additional 59 shares in the last quarter. Assetmark Inc. bought a new position in shares of IDEX in the third quarter worth about $39,000. EdgeRock Capital LLC purchased a new stake in shares of IDEX during the second quarter worth about $41,000. Whittier Trust Co. raised its stake 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 during the period. Finally, Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in IDEX by 100.0% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 200 shares of the industrial products company’s stock worth $43,000 after purchasing an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 97.96% of the company’s stock.

IDEX Trading Down 0.7 %

Shares of NYSE IEX opened at $227.83 on Monday. IDEX Co. has a 1-year low of $189.51 and a 1-year high of $246.36. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.97 and a quick ratio of 2.11. The business’s 50 day moving average is $212.21 and its two-hundred day moving average is $207.58. The stock has a market capitalization of $17.25 billion, a P/E ratio of 35.27, a PEG ratio of 2.41 and a beta of 0.96.

IDEX (NYSE:IEX) last released its earnings results 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 for 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% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.12 EPS. As a group, research analysts expect that IDEX Co. will post 7.88 EPS for the current year.

IDEX Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 17th will be paid a dividend of $0.69 per share. The ex-dividend date is Friday, January 17th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.21%. IDEX’s dividend payout ratio is presently 42.72%.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. TD Cowen lowered their target price on shares of IDEX from $240.00 to $230.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Argus cut shares of IDEX from a “buy” rating to a “hold” rating in a research note on Wednesday, August 14th. Oppenheimer cut their price objective on IDEX from $245.00 to $238.00 and set an “outperform” rating for the company in a research report on Monday, August 5th. Royal Bank of Canada boosted their target price on IDEX from $236.00 to $248.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Finally, Robert W. Baird cut their price target on IDEX from $245.00 to $241.00 and set an “outperform” rating for the company in a report on Thursday, October 31st. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $241.14.

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.