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

Intech Investment Management LLC decreased its holdings in shares of IDEX Co. (NYSE:IEX) by 33.0% during the third quarter, according to its most recent disclosure with the SEC. The fund 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.

Other hedge funds have also recently modified their holdings of the company. UMB Bank n.a. increased its stake in IDEX by 31.0% during the 2nd quarter. UMB Bank n.a. now owns 241 shares of the industrial products company’s stock valued at $48,000 after purchasing an additional 57 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in shares of IDEX by 19.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 344 shares of the industrial products company’s stock valued at $72,000 after acquiring an additional 57 shares during the period. Whittier Trust Co. raised its stake in IDEX by 38.4% in the 2nd quarter. Whittier Trust Co. now owns 209 shares of the industrial products company’s stock worth $42,000 after acquiring an additional 58 shares during the last quarter. Catalyst Capital Advisors LLC lifted its position in IDEX by 73.8% during the 3rd 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 during the period. Finally, Oregon Public Employees Retirement Fund grew its stake in IDEX by 1.0% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 6,476 shares of the industrial products company’s stock valued at $1,303,000 after purchasing an additional 61 shares during the last quarter. Institutional investors and hedge funds own 97.96% of the company’s stock.

IDEX Stock Up 2.2 %

IEX opened at $232.50 on Friday. The company has a fifty day moving average of $215.08 and a two-hundred day moving average of $207.87. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.11 and a current ratio of 2.97. IDEX Co. has a fifty-two week low of $189.51 and a fifty-two week high of $246.36. The stock has a market capitalization of $17.61 billion, a price-to-earnings ratio of 35.99, a PEG ratio of 2.40 and a beta of 0.96.

IDEX (NYSE:IEX) last released its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $1.90 earnings per share for the quarter, topping 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 company had revenue of $798.20 million during the quarter, compared to analysts’ expectations of $793.05 million. During the same quarter in the prior year, the firm posted $2.12 EPS. IDEX’s quarterly revenue was up .6% compared to the same quarter last year. On average, research analysts expect that IDEX Co. will post 7.88 earnings per share for the current year.

IDEX Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 17th will be given a dividend of $0.69 per share. The ex-dividend date of this dividend is Friday, January 17th. This represents a $2.76 annualized dividend and a dividend yield of 1.19%. IDEX’s dividend payout ratio (DPR) is presently 42.72%.

Analysts Set New Price Targets

IEX has been the subject of several research analyst reports. Oppenheimer reduced 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. Argus cut shares of IDEX from a “buy” rating to a “hold” rating in a research note on Wednesday, August 14th. Royal Bank of Canada increased their price objective 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 decreased their target price on shares of IDEX from $240.00 to $230.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Finally, DA Davidson cut their price target on IDEX from $220.00 to $210.00 and set a “neutral” rating on the stock in a research report on Monday, August 5th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, IDEX presently has a consensus rating of “Moderate Buy” and an average price target of $241.14.

About IDEX

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.