Aigen Investment Management LP Sells 711 Shares of IDEX Co. (NYSE:IEX)

Aigen Investment Management LP lowered its position in shares of IDEX Co. (NYSE:IEX) by 9.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 7,190 shares of the industrial products company’s stock after selling 711 shares during the quarter. Aigen Investment Management LP’s holdings in IDEX were worth $1,542,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Catalyst Capital Advisors LLC increased its holdings in shares of IDEX by 73.8% in the third quarter. Catalyst Capital Advisors LLC now owns 139 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 59 shares in the last quarter. Assetmark Inc. acquired a new position in IDEX in the 3rd quarter worth $39,000. Livforsakringsbolaget Skandia Omsesidigt increased its holdings in IDEX by 100.0% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 200 shares of the industrial products company’s stock worth $43,000 after purchasing an additional 100 shares in the last quarter. EdgeRock Capital LLC acquired a new stake in shares of IDEX in the 2nd quarter valued at about $41,000. Finally, Whittier Trust Co. lifted its holdings in shares of IDEX by 38.4% in the second quarter. Whittier Trust Co. now owns 209 shares of the industrial products company’s stock valued at $42,000 after purchasing an additional 58 shares in the last quarter. 97.96% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

IEX has been the topic of a number of recent research reports. DA Davidson dropped their target price on IDEX from $220.00 to $210.00 and set a “neutral” rating on the stock in a research report on Monday, August 5th. Robert W. Baird lowered their price objective on shares of IDEX from $245.00 to $241.00 and set an “outperform” rating on the stock in a report on Thursday, October 31st. Oppenheimer reduced their target price on shares of IDEX from $245.00 to $238.00 and set an “outperform” rating for the company in a report on Monday, August 5th. Royal Bank of Canada increased their price target on shares of IDEX from $236.00 to $248.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Finally, TD Cowen lowered their price objective on shares of IDEX from $240.00 to $230.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $241.14.

IDEX Price Performance

IDEX stock traded down $1.17 during mid-day trading on Tuesday, reaching $228.17. The company had a trading volume of 14,963 shares, compared to its average volume of 470,264. The business has a fifty day simple moving average of $209.79 and a 200 day simple moving average of $207.37. The company has a market cap of $17.28 billion, a P/E ratio of 35.49, a P/E/G ratio of 2.42 and a beta of 0.96. IDEX Co. has a fifty-two week low of $189.51 and a fifty-two week high of $246.36. The company has a current ratio of 2.97, a quick ratio of 2.11 and a debt-to-equity ratio of 0.54.

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

IDEX Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, October 11th were given a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date of this dividend was Friday, October 11th. IDEX’s dividend payout ratio is presently 42.72%.

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.