The Vanguard Group, Inc. has recently announced that it has increased stake in IDEX Corporation (NYSE:IEX) by 2.92%. After grabbing 8.88 million shares, the institutional investor is now in possession of 0.25 million shares of the Industrials Company. The new investment brought the stake of investor firm to 11.78% having worth around $2.11 billion. Moreover, T. Rowe Price Investment Manageme increased its share by 2.02 million to have a control over 2.02 million shares. And Pictet Asset Management SA raised its holdings to 0.19 million shares by acquiring 1.6 million shares or 2.13% of the stake.
IDEX Corporation (IEX) concluded trading on 01/11/23 at a closing price of $235.48, with 0.82 million shares of worth about $193.87 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 29.80% during that period and on Wednesday the price saw a gain of about 0.29%. Currently the company’s common shares owned by public are about 75.40M shares, out of which, 75.17M shares are available for trading.
A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 19 analysts are covering the IEX stock and their offered price forecasts bring an average price target of $238.41. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $280.00 and could fall to a lowest price of $201.00. The stock’s current price level is 0.95% above of average price target set by the analysts, while a rise to estimated low would result in loss of -17.15% for the stock. However, touching the estimated high of $280.00 would mean a gain of 15.9% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 43 times over the past 12 months. They bought 87,457 shares in 26 of the transactions. In 17 selling transactions, insiders dumped 50,199 shares.
Vanguard Total Stock Market Index, Vanguard Small Cap Index Fund, and T Rowe Price New Horizons Fund are the top 3 mutual funds which are holding stakes in IDEX Corporation Vanguard Total Stock Market Index is currently holding 2.27 million shares of worth totaling $539.87 million. The company recently came buying 13141.0 shares which brought its stake up to 3.01% of the company’s outstanding shares. Vanguard Small Cap Index Fund bought 2060.0 shares, after which its hold over company’s outstanding shares expand to 2.59%, leaving 1.95 million shares with the mutual fund that have a worth of about $462.97 million. T Rowe Price New Horizons Fund, after buying 1.79 million shares, have now control over 2.38% of the stake in the company. It holds 1.79 million shares of worth $425.94 million.
IDEX Corporation (NYSE: IEX) started trading at $236.19, above $1.39 from concluding price of the previous day. However, the stock later moved at a day high price of 238.13, or with a gain of 0.29%. Stock saw a price change of 2.71% in past 5 days and over the past one month there was a price change of 0.11%. Year-to-date (YTD), IEX shares are showing a performance of 3.13% which increased to 4.73% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $172.18 but also hit the highest price of $246.23 during that period. The average intraday trading volume for IDEX Corporation shares is 393.25K. The stock is currently trading 1.83% above its 20-day simple moving average (SMA20), while that difference is up 1.97% for SMA50 and it goes to 14.70% higher than SMA200.
The Vanguard Group, Inc. acquired 8.88 million shares of IDEX Corporation having value of about $2.11 billion. Data submitted at the U.S SEC by The Vanguard Group, Inc. revealed that the firm now holds 0.25 million shares in the company valued at close to $59308228.28, or have control over 2.92% stake in the company. Holding of mutual funds in the company is about 34.05% while other institutional holders and individual stake holders have control over 66.27% and 3.27% of the stake respectively.
The stock has a current market capitalization of $17.27B and its 3Y-monthly beta is at 0.99. PE ratio of stock for trailing 12 months is 31.14, while it has posted earnings per share of $7.56 in the same period. Its PEG reads 2.60 and has Quick Ratio of 2.30 while making debt-to-equity ratio of 0.00. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for IEX, volatility over the week remained 1.82% while standing at 1.84% over the month.
Analysts are in expectations that IDEX Corporation (IEX) stock would likely to be making an EPS of $1.96 in the current quarter, while forecast for next quarter EPS is $2.04 and it is $8.43 for next year. For the current quarter EPS, analysts have given the company a lowest target $1.94 which is $1.97 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $1.71 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 19.00% while it is estimated to increase by 5.50% in next year. EPS is likely to grow at an annualized rate of 12.00% for next 5-years, compared to annual growth of 10.70% made by the stock over the past 5-years.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Stifel on July 18, 2022 offering a Hold rating for the stock and assigned a target price range of between $229 and $188 to it. Coverage by Oppenheimer stated IDEX Corporation (IEX) stock as an Outperform in their note to investors on July 14, 2022, suggesting a price target of $215 for the stock. On March 09, 2022, Cowen Upgrade their recommendations, while on January 11, 2022, Bernstein Initiated their ratings for the stock with a price target of $230. Stock get a Neutral rating from Mizuho on December 17, 2021.