Bahl & Gaynor Inc. Has $668,000 Stake in IDEX Co. (NYSE:IEX)

Bahl & Gaynor Inc. trimmed its stake in IDEX Co. (NYSE:IEX) by 3.9% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,739 shares of the industrial products company’s stock after selling 111 shares during the period. Bahl & Gaynor Inc.’s holdings in IDEX were worth $668,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in IEX. Planned Solutions Inc. bought a new position in shares of IDEX in the 4th quarter valued at approximately $33,000. Riverview Trust Co bought a new position in shares of IDEX in the 1st quarter valued at approximately $35,000. Quarry LP bought a new position in shares of IDEX in the 4th quarter valued at approximately $36,000. EdgeRock Capital LLC bought a new position in IDEX in the 4th quarter worth approximately $48,000. Finally, VisionPoint Advisory Group LLC bought a new position in IDEX in the 4th quarter worth approximately $50,000. 97.96% of the stock is owned by institutional investors.

IDEX Price Performance

IDEX stock traded down $2.72 on Wednesday, reaching $201.18. The company’s stock had a trading volume of 260,245 shares, compared to its average volume of 423,109. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.45 and a current ratio of 3.37. The company has a market cap of $15.23 billion, a price-to-earnings ratio of 26.50, a PEG ratio of 2.07 and a beta of 0.95. The business’s fifty day moving average price is $205.54 and its 200 day moving average price is $219.77. IDEX Co. has a twelve month low of $183.76 and a twelve month high of $246.36.

IDEX (NYSE:IEX) last posted its quarterly earnings data on Tuesday, April 23rd. The industrial products company reported $1.88 EPS for the quarter, topping analysts’ consensus estimates of $1.76 by $0.12. The company had revenue of $801.00 million for the quarter, compared to analyst estimates of $807.52 million. IDEX had a return on equity of 17.60% and a net margin of 17.89%. The business’s revenue was down 5.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.09 earnings per share. Equities analysts expect that IDEX Co. will post 8.27 earnings per share for the current fiscal year.

IDEX Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Stockholders of record on Friday, July 12th will be paid a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a dividend yield of 1.37%. The ex-dividend date of this dividend is Friday, July 12th. IDEX’s dividend payout ratio (DPR) is presently 36.32%.

Analysts Set New Price Targets

IEX has been the topic of a number of research reports. Oppenheimer boosted their price objective on IDEX from $245.00 to $252.00 and gave the company an “outperform” rating in a research report on Thursday, April 18th. Stifel Nicolaus lowered their price objective on IDEX from $265.00 to $236.00 and set a “buy” rating on the stock in a research report on Thursday, July 18th. Citigroup boosted their price objective on IDEX from $254.00 to $277.00 and gave the company a “buy” rating in a research report on Monday, April 8th. StockNews.com cut IDEX from a “buy” rating to a “hold” rating in a research report on Thursday, July 11th. Finally, Robert W. Baird lowered their price objective on IDEX from $260.00 to $256.00 and set an “outperform” rating on the stock in a research report on Thursday, April 25th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $246.57.

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.