Apollon Wealth Management LLC Has $889,000 Stock Position in IDEX Co. (NYSE:IEX)

Apollon Wealth Management LLC lifted its position in shares of IDEX Co. (NYSE:IEX) by 42.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,095 shares of the industrial products company’s stock after purchasing an additional 1,217 shares during the quarter. Apollon Wealth Management LLC’s holdings in IDEX were worth $889,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Commonwealth Equity Services LLC boosted its holdings in shares of IDEX by 1.3% during the third quarter. Commonwealth Equity Services LLC now owns 4,289 shares of the industrial products company’s stock worth $892,000 after acquiring an additional 53 shares during the period. DB Fitzpatrick & Co Inc lifted its holdings in IDEX by 2.1% during the 3rd quarter. DB Fitzpatrick & Co Inc now owns 2,766 shares of the industrial products company’s stock worth $575,000 after purchasing an additional 56 shares during the last quarter. Jacobson & Schmitt Advisors LLC boosted its stake in IDEX by 5.0% in the 3rd quarter. Jacobson & Schmitt Advisors LLC now owns 1,242 shares of the industrial products company’s stock valued at $258,000 after purchasing an additional 59 shares during the period. Guinness Asset Management LTD grew its holdings in IDEX by 2.8% in the 3rd quarter. Guinness Asset Management LTD now owns 2,360 shares of the industrial products company’s stock valued at $491,000 after buying an additional 65 shares in the last quarter. Finally, Desjardins Global Asset Management Inc. increased its position in IDEX by 25.6% during the 4th quarter. Desjardins Global Asset Management Inc. now owns 388 shares of the industrial products company’s stock worth $84,000 after buying an additional 79 shares during the period. Institutional investors own 97.96% of the company’s stock.

Wall Street Analyst Weigh In

IEX has been the topic of several research reports. Royal Bank of Canada restated an “outperform” rating and issued a $255.00 price target on shares of IDEX in a research note on Thursday, March 21st. Citigroup raised their target price on shares of IDEX from $254.00 to $277.00 and gave the stock a “buy” rating in a report on Monday, April 8th. Oppenheimer boosted their price target on IDEX from $245.00 to $252.00 and gave the company an “outperform” rating in a research note on Thursday, April 18th. Stifel Nicolaus raised IDEX from a “hold” rating to a “buy” rating and increased their price target for the stock from $215.00 to $265.00 in a research report on Thursday, February 8th. Finally, Robert W. Baird dropped their price objective on IDEX from $260.00 to $256.00 and set an “outperform” rating for the company in a report on Thursday, April 25th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, IDEX presently has an average rating of “Moderate Buy” and an average target price of $250.71.

IDEX Stock Performance

Shares of NYSE:IEX opened at $222.74 on Friday. IDEX Co. has a 1 year low of $183.76 and a 1 year high of $246.36. The stock has a market capitalization of $16.86 billion, a price-to-earnings ratio of 29.31, a price-to-earnings-growth ratio of 2.21 and a beta of 0.99. The company has a debt-to-equity ratio of 0.37, a current ratio of 3.37 and a quick ratio of 2.45. The company’s 50 day simple moving average is $234.10 and its 200 day simple moving average is $217.94.

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 company had revenue of $801.00 million for the quarter, compared to analyst estimates of $807.52 million. During the same quarter last year, the company posted $2.09 EPS. The company’s revenue for the quarter was down 5.3% compared to the same quarter last year. As a group, research analysts predict that IDEX Co. will post 8.33 EPS for the current fiscal year.

IDEX Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be paid a dividend of $0.69 per share. This is an increase from IDEX’s previous quarterly dividend of $0.64. The ex-dividend date is Thursday, May 16th. This represents a $2.76 annualized dividend and a yield of 1.24%. IDEX’s payout ratio is presently 33.68%.

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.