Nisa Investment Advisors LLC Cuts Holdings in IDEX Co. (NYSE:IEX)

Nisa Investment Advisors LLC decreased its position in IDEX Co. (NYSE:IEX) by 0.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 32,812 shares of the industrial products company’s stock after selling 155 shares during the period. Nisa Investment Advisors LLC’s holdings in IDEX were worth $6,867,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of IEX. Guinness Asset Management LTD lifted its holdings in IDEX by 4.0% during the fourth quarter. Guinness Asset Management LTD now owns 2,408 shares of the industrial products company’s stock worth $504,000 after acquiring an additional 93 shares during the period. HB Wealth Management LLC boosted its holdings in shares of IDEX by 23.1% in the 4th quarter. HB Wealth Management LLC now owns 1,157 shares of the industrial products company’s stock worth $242,000 after buying an additional 217 shares during the last quarter. Albert D Mason Inc. grew its position in IDEX by 1.3% during the fourth quarter. Albert D Mason Inc. now owns 4,532 shares of the industrial products company’s stock valued at $948,000 after buying an additional 56 shares during the period. Covea Finance increased its holdings in IDEX by 70.6% during the fourth quarter. Covea Finance now owns 14,500 shares of the industrial products company’s stock worth $3,035,000 after buying an additional 6,000 shares during the last quarter. Finally, Park Avenue Securities LLC raised its position in IDEX by 27.0% in the fourth quarter. Park Avenue Securities LLC now owns 2,330 shares of the industrial products company’s stock worth $488,000 after acquiring an additional 495 shares during the period. Hedge funds and other institutional investors own 97.96% of the company’s stock.

Analysts Set New Price Targets

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

IDEX Price Performance

Shares of NYSE:IEX opened at $220.22 on Friday. The company has a 50 day moving average of $219.36 and a 200 day moving average of $211.18. 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 stock has a market cap of $16.68 billion, a P/E ratio of 34.09, a P/E/G ratio of 2.17 and a beta of 0.97. IDEX Co. has a 12 month low of $189.51 and a 12 month high of $246.36.

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 the consensus estimate of $1.89 by $0.01. IDEX had a net margin of 15.35% and a return on equity of 15.92%. The firm had revenue of $798.20 million for the quarter, compared to analysts’ expectations of $793.05 million. During the same quarter in the prior year, the firm posted $2.12 earnings per share. The business’s quarterly revenue was up .6% on a year-over-year basis. As a group, sell-side analysts forecast that IDEX Co. will post 7.89 EPS for the current fiscal year.

IDEX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 17th will be given a $0.69 dividend. This represents a $2.76 annualized dividend and a dividend yield of 1.25%. The ex-dividend date of this dividend is Friday, January 17th. IDEX’s dividend payout ratio (DPR) 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.