Arthur M. Cohen & Associates LLC Sells 500 Shares of IDEX Co. (NYSE:IEX)

Arthur M. Cohen & Associates LLC lowered its stake in shares of IDEX Co. (NYSE:IEX) by 29.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,200 shares of the industrial products company’s stock after selling 500 shares during the period. Arthur M. Cohen & Associates LLC’s holdings in IDEX were worth $251,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. State Street Corp raised its stake in IDEX by 0.5% during the 3rd quarter. State Street Corp now owns 3,017,976 shares of the industrial products company’s stock worth $647,356,000 after buying an additional 15,077 shares during the period. Wellington Management Group LLP raised its position in shares of IDEX by 108.4% during the third quarter. Wellington Management Group LLP now owns 2,830,929 shares of the industrial products company’s stock worth $607,234,000 after purchasing an additional 1,472,456 shares during the period. Geode Capital Management LLC lifted its holdings in shares of IDEX by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,891,175 shares of the industrial products company’s stock worth $404,339,000 after purchasing an additional 23,388 shares in the last quarter. Champlain Investment Partners LLC grew its position in IDEX by 28.8% in the 3rd quarter. Champlain Investment Partners LLC now owns 1,223,676 shares of the industrial products company’s stock valued at $262,479,000 after purchasing an additional 273,460 shares during the period. Finally, Barclays PLC increased its stake in IDEX by 1.2% during the 3rd quarter. Barclays PLC now owns 1,177,645 shares of the industrial products company’s stock valued at $252,603,000 after purchasing an additional 14,360 shares in the last quarter. Institutional investors own 97.96% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on IEX. Stifel Nicolaus lifted their price objective on shares of IDEX from $244.00 to $256.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Royal Bank of Canada lifted their price target on IDEX from $248.00 to $258.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. Robert W. Baird lowered their price objective on IDEX from $245.00 to $241.00 and set an “outperform” rating for the company in a research note on Thursday, October 31st. Finally, Citigroup cut their target price on IDEX from $269.00 to $267.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $242.86.

IDEX Stock Performance

IEX stock opened at $215.67 on Friday. The company has a quick ratio of 2.11, a current ratio of 2.97 and a debt-to-equity ratio of 0.54. The firm has a market cap of $16.33 billion, a PE ratio of 33.39, a P/E/G ratio of 2.03 and a beta of 0.97. The business has a 50 day moving average of $220.31 and a 200-day moving average of $210.34. IDEX Co. has a 12-month low of $189.51 and a 12-month high of $246.36.

IDEX (NYSE:IEX) last announced its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $1.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.89 by $0.01. The firm had revenue of $798.20 million during the quarter, compared to the consensus estimate of $793.05 million. IDEX had a return on equity of 15.92% and a net margin of 15.35%. The business’s revenue for the quarter was up .6% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.12 EPS. As a group, sell-side analysts expect that IDEX Co. will post 7.89 earnings per share for the current year.

IDEX Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 17th will be given a $0.69 dividend. This represents a $2.76 annualized dividend and a yield of 1.28%. The ex-dividend date of this dividend is Friday, January 17th. IDEX’s dividend payout ratio is 42.72%.

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.