Aigen Investment Management LP Takes Position in IDEX Co. (NYSE:IEX)

Aigen Investment Management LP purchased a new position in shares of IDEX Co. (NYSE:IEX) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,035 shares of the industrial products company’s stock, valued at approximately $659,000.

Other large investors have also recently added to or reduced their stakes in the company. Planned Solutions Inc. acquired a new stake in shares of IDEX during the 4th quarter valued at about $33,000. EdgeRock Capital LLC acquired a new position in shares of IDEX during the 4th quarter worth $48,000. VisionPoint Advisory Group LLC bought a new position in shares of IDEX during the 4th quarter valued at $50,000. Headlands Technologies LLC acquired a new stake in shares of IDEX in the 4th quarter valued at $52,000. Finally, Compagnie Lombard Odier SCmA bought a new stake in IDEX in the fourth quarter worth $54,000. Institutional investors and hedge funds own 97.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on IEX shares. StockNews.com raised IDEX from a “hold” rating to a “buy” rating in a research report on Saturday, May 18th. Robert W. Baird dropped their price target on shares of IDEX from $260.00 to $256.00 and set an “outperform” rating on the stock in a research report on Thursday, April 25th. Citigroup raised their target price on shares of IDEX from $254.00 to $277.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Royal Bank of Canada restated an “outperform” rating and set a $255.00 price target on shares of IDEX in a report on Thursday, March 21st. Finally, Oppenheimer lifted their price objective on IDEX from $245.00 to $252.00 and gave the stock an “outperform” rating in a research note on Thursday, April 18th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $250.71.

IDEX Stock Performance

NYSE:IEX opened at $217.99 on Thursday. The firm’s 50-day moving average is $231.15 and its 200-day moving average is $220.06. The company has a market cap of $16.50 billion, a price-to-earnings ratio of 28.67, a PEG ratio of 2.18 and a beta of 0.99. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.45 and a current ratio of 3.37. IDEX Co. has a 52-week low of $183.76 and a 52-week high of $246.36.

IDEX (NYSE:IEX) last issued its quarterly earnings results on Tuesday, April 23rd. The industrial products company reported $1.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.76 by $0.12. IDEX had a return on equity of 17.60% and a net margin of 17.89%. The firm had revenue of $801.00 million for the quarter, compared to analyst estimates of $807.52 million. During the same period in the previous year, the company posted $2.09 earnings per share. The company’s quarterly revenue was down 5.3% compared to the same quarter last year. Equities research analysts anticipate that IDEX Co. will post 8.31 earnings per share for the current year.

IDEX Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be given a $0.69 dividend. This is a boost from IDEX’s previous quarterly dividend of $0.64. This represents a $2.76 annualized dividend and a yield of 1.27%. The ex-dividend date is Thursday, May 16th. IDEX’s dividend payout ratio (DPR) is 36.32%.

IDEX 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.