Intech Investment Management LLC Trims Stock Position in IDEX Co. (NYSE:IEX)

Intech Investment Management LLC lowered its holdings in IDEX Co. (NYSE:IEX) by 33.0% during the third quarter, Holdings Channel.com reports. The firm owned 13,713 shares of the industrial products company’s stock after selling 6,743 shares during the period. Intech Investment Management LLC’s holdings in IDEX were worth $2,941,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Catalyst Capital Advisors LLC increased its holdings in IDEX by 73.8% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 139 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 59 shares during the last quarter. Assetmark Inc. acquired a new stake in shares of IDEX in the third quarter valued at $39,000. EdgeRock Capital LLC acquired a new position in IDEX during the 2nd quarter worth about $41,000. Whittier Trust Co. boosted its holdings in IDEX by 38.4% during the 2nd quarter. Whittier Trust Co. now owns 209 shares of the industrial products company’s stock valued at $42,000 after acquiring an additional 58 shares during the period. Finally, Livforsakringsbolaget Skandia Omsesidigt grew its position in IDEX by 100.0% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 200 shares of the industrial products company’s stock valued at $43,000 after acquiring an additional 100 shares in the last quarter. Institutional investors and hedge funds own 97.96% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on IEX. Argus lowered shares of IDEX from a “buy” rating to a “hold” rating in a research note on Wednesday, August 14th. Royal Bank of Canada boosted their price target on shares of IDEX from $236.00 to $248.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. TD Cowen reduced their price objective on IDEX from $240.00 to $230.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. DA Davidson cut their price target on IDEX from $220.00 to $210.00 and set a “neutral” rating on the stock in a report on Monday, August 5th. Finally, Oppenheimer decreased their price objective on IDEX from $245.00 to $238.00 and set an “outperform” rating for the company in a research note on Monday, August 5th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $241.14.

IDEX Stock Up 2.2 %

Shares of NYSE:IEX opened at $232.50 on Friday. The company has a current ratio of 2.97, a quick ratio of 2.11 and a debt-to-equity ratio of 0.54. The firm has a 50 day simple moving average of $215.08 and a 200-day simple moving average of $207.87. The company has a market capitalization of $17.61 billion, a PE ratio of 35.99, a P/E/G ratio of 2.40 and a beta of 0.96. IDEX Co. has a twelve month low of $189.51 and a twelve month high of $246.36.

IDEX (NYSE:IEX) last issued its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.01. IDEX had a return on equity of 15.92% and a net margin of 15.35%. The company had revenue of $798.20 million for the quarter, compared to analyst estimates of $793.05 million. During the same quarter last year, the company posted $2.12 earnings per share. The business’s quarterly revenue was up .6% compared to the same quarter last year. On average, equities analysts predict that IDEX Co. will post 7.88 EPS for the current fiscal year.

IDEX Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 17th will be issued a $0.69 dividend. This represents a $2.76 annualized dividend and a dividend yield of 1.19%. The ex-dividend date of this dividend is Friday, January 17th. IDEX’s payout ratio is currently 42.72%.

IDEX Company 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.