Generali Asset Management SPA SGR Sells 5,072 Shares of IDEX Corporation $IEX

Generali Asset Management SPA SGR trimmed its stake in IDEX Corporation (NYSE:IEX) by 92.6% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 406 shares of the industrial products company’s stock after selling 5,072 shares during the quarter. Generali Asset Management SPA SGR’s holdings in IDEX were worth $66,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in shares of IDEX by 257.5% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 143 shares of the industrial products company’s stock valued at $25,000 after buying an additional 103 shares during the last quarter. American National Bank & Trust bought a new stake in IDEX during the second quarter worth $25,000. Capital A Wealth Management LLC acquired a new stake in IDEX in the second quarter valued at $28,000. Loomis Sayles & Co. L P bought a new position in shares of IDEX in the 2nd quarter valued at about $33,000. Finally, CYBER HORNET ETFs LLC bought a new position in shares of IDEX in the 2nd quarter valued at about $35,000. Institutional investors own 97.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on IEX shares. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of IDEX in a report on Wednesday, October 8th. Citigroup upped their price objective on IDEX from $197.00 to $202.00 and gave the company a “buy” rating in a research note on Monday, December 8th. Cowen reiterated a “buy” rating on shares of IDEX in a research note on Wednesday, December 3rd. Oppenheimer set a $210.00 target price on IDEX in a report on Tuesday, October 7th. Finally, Royal Bank Of Canada cut their price target on IDEX from $200.00 to $195.00 and set an “outperform” rating for the company in a report on Thursday, October 30th. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, IDEX has an average rating of “Moderate Buy” and an average target price of $196.86.

IDEX Price Performance

Shares of NYSE IEX opened at $180.93 on Tuesday. The firm has a market cap of $13.54 billion, a P/E ratio of 28.63, a price-to-earnings-growth ratio of 1.80 and a beta of 1.00. The business’s 50 day moving average is $173.59 and its 200-day moving average is $170.48. The company has a current ratio of 2.93, a quick ratio of 2.06 and a debt-to-equity ratio of 0.47. IDEX Corporation has a 1-year low of $153.36 and a 1-year high of $226.04.

IDEX (NYSE:IEX) last released its quarterly earnings results on Friday, December 16th. The industrial products company reported $1.79 earnings per share (EPS) for the quarter. The business had revenue of $712.00 million during the quarter. IDEX had a return on equity of 15.20% and a net margin of 13.97%. Equities research analysts predict that IDEX Corporation will post 8.26 earnings per share for the current year.

IDEX declared that its Board of Directors has initiated a share buyback program on Thursday, September 18th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the industrial products company to buy up to 8.3% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

IDEX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 30th. Investors of record on Friday, January 16th will be given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend is Friday, January 16th. IDEX’s dividend payout ratio (DPR) is currently 44.94%.

IDEX Company Profile

IDEX Corporation is a diversified industrial manufacturer specializing in the design, production and distribution of highly engineered fluidics systems, measurement technologies and safety solutions. The company’s core offerings include positive-displacement pumps, flow meters, valves, sampling systems and analytical instruments that serve a wide range of end markets such as water treatment, chemical processing, energy, food and beverage, and life sciences. Through its focus on precision engineering and proprietary material science, IDEX delivers products designed for reliability in demanding applications.

Operations at IDEX are organized into three principal segments.