First Hawaiian Bank Raises Position in IDEX Co. (NYSE:IEX)

First Hawaiian Bank raised its holdings in shares of IDEX Co. (NYSE:IEX) by 2.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,410 shares of the industrial products company’s stock after buying an additional 162 shares during the quarter. First Hawaiian Bank’s holdings in IDEX were worth $1,491,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in IEX. Riverview Trust Co bought a new position in shares of IDEX in the first quarter worth approximately $35,000. Quarry LP purchased a new stake in shares of IDEX during the 4th quarter valued at $36,000. EdgeRock Capital LLC purchased a new stake in shares of IDEX during the 4th quarter valued at $48,000. VisionPoint Advisory Group LLC bought a new stake in shares of IDEX during the 4th quarter worth $50,000. Finally, Headlands Technologies LLC purchased a new position in IDEX in the fourth quarter worth $52,000. 97.96% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on IEX shares. DA Davidson dropped their price target on IDEX from $220.00 to $210.00 and set a “neutral” rating for the company in a research note on Monday. StockNews.com downgraded IDEX from a “buy” rating to a “hold” rating in a research report on Thursday, July 11th. Oppenheimer reduced their price target on shares of IDEX from $245.00 to $238.00 and set an “outperform” rating on the stock in a research report on Monday. Stifel Nicolaus lowered their price objective on shares of IDEX from $265.00 to $236.00 and set a “buy” rating for the company in a report on Thursday, July 18th. Finally, Robert W. Baird reduced their target price on shares of IDEX from $256.00 to $241.00 and set an “outperform” rating on the stock in a report on Friday. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $236.00.

IDEX Trading Up 1.6 %

IEX traded up $3.03 during midday trading on Tuesday, reaching $195.24. 266,918 shares of the company’s stock traded hands, compared to its average volume of 435,337. IDEX Co. has a 52 week low of $183.76 and a 52 week high of $246.36. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.41 and a quick ratio of 2.45. The firm has a fifty day moving average of $202.42 and a two-hundred day moving average of $219.38. The stock has a market capitalization of $14.78 billion, a price-to-earnings ratio of 25.29, a P/E/G ratio of 2.08 and a beta of 0.95.

IDEX (NYSE:IEX) last announced its earnings results on Wednesday, July 31st. The industrial products company reported $2.06 EPS for the quarter, beating analysts’ consensus estimates of $2.04 by $0.02. The company had revenue of $807.20 million during the quarter, compared to the consensus estimate of $828.15 million. IDEX had a return on equity of 16.87% and a net margin of 18.19%. The firm’s revenue for the quarter was down 4.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.18 earnings per share. On average, equities analysts anticipate that IDEX Co. will post 7.85 earnings per share for the current fiscal year.

IDEX Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 26th. Investors of record on Friday, July 12th were given a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a dividend yield of 1.41%. The ex-dividend date was Friday, July 12th. IDEX’s dividend payout ratio is currently 36.32%.

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.