Primecap Management Co. CA Has $63.17 Million Position in IDEX Co. (NYSE:IEX)

Primecap Management Co. CA cut its holdings in IDEX Co. (NYSE:IEX) by 3.1% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 294,495 shares of the industrial products company’s stock after selling 9,280 shares during the quarter. Primecap Management Co. CA owned about 0.39% of IDEX worth $63,169,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. Catalyst Capital Advisors LLC boosted its holdings in shares of IDEX by 73.8% in the third quarter. Catalyst Capital Advisors LLC now owns 139 shares of the industrial products company’s stock valued at $30,000 after buying an additional 59 shares during the period. Assetmark Inc. acquired a new position in IDEX in the 3rd quarter worth $39,000. EdgeRock Capital LLC bought a new position in IDEX during the 2nd quarter worth about $41,000. Whittier Trust Co. raised its stake in shares of IDEX by 38.4% in 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 shares of IDEX by 100.0% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 200 shares of the industrial products company’s stock valued at $43,000 after purchasing an additional 100 shares in the last quarter. 97.96% of the stock is owned by institutional investors.

IDEX Stock Performance

NYSE IEX opened at $227.50 on Friday. The firm has a market capitalization of $17.23 billion, a P/E ratio of 35.22, a price-to-earnings-growth ratio of 2.36 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. The firm’s fifty day moving average price is $214.43 and its two-hundred day moving average price is $207.89. IDEX Co. has a 1 year low of $189.51 and a 1 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, beating analysts’ consensus estimates of $1.89 by $0.01. IDEX had a net margin of 15.35% and a return on equity of 15.92%. The company had revenue of $798.20 million for the quarter, compared to analysts’ expectations of $793.05 million. During the same period in the prior year, the firm earned $2.12 EPS. IDEX’s quarterly revenue was up .6% compared to the same quarter last year. As a group, research analysts anticipate that IDEX Co. will post 7.88 EPS for the current year.

IDEX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 17th will be paid a dividend of $0.69 per share. The ex-dividend date of this dividend is Friday, January 17th. This represents a $2.76 annualized dividend and a dividend yield of 1.21%. IDEX’s dividend payout ratio is currently 42.72%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on IEX. Robert W. Baird dropped their target price on IDEX from $245.00 to $241.00 and set an “outperform” rating on the stock in a research report on Thursday, October 31st. TD Cowen lowered their price objective 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. DA Davidson reduced their target price on shares of IDEX from $220.00 to $210.00 and set a “neutral” rating for the company in a report on Monday, August 5th. Stifel Nicolaus raised their target price on shares of IDEX from $232.00 to $244.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Finally, Royal Bank of Canada boosted their price target on shares of IDEX from $236.00 to $248.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $241.14.

About IDEX

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.