First Hawaiian Bank Sells 567 Shares of IDEX Co. (NYSE:IEX)

First Hawaiian Bank cut its position in shares of IDEX Co. (NYSE:IEX) by 4.5% during the fourth quarter, HoldingsChannel.com reports. The firm owned 11,970 shares of the industrial products company’s stock after selling 567 shares during the period. First Hawaiian Bank’s holdings in IDEX were worth $2,505,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of IEX. Wellington Management Group LLP boosted its stake in IDEX by 108.4% during the third quarter. Wellington Management Group LLP now owns 2,830,929 shares of the industrial products company’s stock worth $607,234,000 after buying an additional 1,472,456 shares in the last quarter. Van ECK Associates Corp boosted its position in shares of IDEX by 9,424.6% during the 3rd quarter. Van ECK Associates Corp now owns 1,032,277 shares of the industrial products company’s stock valued at $211,473,000 after acquiring an additional 1,021,439 shares in the last quarter. Champlain Investment Partners LLC increased its stake in IDEX by 28.8% in the third quarter. Champlain Investment Partners LLC now owns 1,223,676 shares of the industrial products company’s stock valued at $262,479,000 after acquiring an additional 273,460 shares during the period. Hsbc Holdings PLC increased its stake in IDEX by 75.6% in the second quarter. Hsbc Holdings PLC now owns 519,124 shares of the industrial products company’s stock valued at $104,179,000 after acquiring an additional 223,422 shares during the period. Finally, DF Dent & Co. Inc. acquired a new position in IDEX in the third quarter worth about $31,747,000. 97.96% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently weighed in on IEX. Royal Bank of Canada upped their price objective on IDEX from $248.00 to $258.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. Stifel Nicolaus upped their price target on IDEX from $244.00 to $256.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Robert W. Baird cut their price objective on IDEX from $245.00 to $241.00 and set an “outperform” rating for the company in a report on Thursday, October 31st. Finally, Citigroup boosted their target price on shares of IDEX from $251.00 to $269.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $243.14.

IDEX Price Performance

Shares of IEX stock opened at $208.73 on Thursday. IDEX Co. has a 52 week low of $189.51 and a 52 week high of $246.36. The stock has a market capitalization of $15.81 billion, a PE ratio of 32.31, a PEG ratio of 2.36 and a beta of 0.97. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.11 and a current ratio of 2.97. The stock’s fifty day moving average is $221.90 and its 200-day moving average is $209.81.

IDEX (NYSE:IEX) last posted its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $793.05 million. IDEX had a net margin of 15.35% and a return on equity of 15.92%. The company’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter last year, the company posted $2.12 EPS. Equities research analysts expect that IDEX Co. will post 7.89 EPS for the current fiscal year.

IDEX Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 17th will be given a $0.69 dividend. This represents a $2.76 annualized dividend and a yield of 1.32%. The ex-dividend date is Friday, January 17th. IDEX’s dividend payout ratio (DPR) is presently 42.72%.

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.