First Horizon Advisors Inc. Sells 70 Shares of IDEX Co. (NYSE:IEX)

First Horizon Advisors Inc. reduced its holdings in shares of IDEX Co. (NYSE:IEX) by 9.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 658 shares of the industrial products company’s stock after selling 70 shares during the period. First Horizon Advisors Inc.’s holdings in IDEX were worth $141,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. UMB Bank n.a. lifted its stake in IDEX by 31.0% in the second quarter. UMB Bank n.a. now owns 241 shares of the industrial products company’s stock worth $48,000 after purchasing an additional 57 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of IDEX by 19.9% in the second quarter. EverSource Wealth Advisors LLC now owns 344 shares of the industrial products company’s stock worth $72,000 after buying an additional 57 shares during the period. 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. Catalyst Capital Advisors LLC grew 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 last quarter. Finally, Oregon Public Employees Retirement Fund increased its stake in IDEX by 1.0% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 6,476 shares of the industrial products company’s stock worth $1,303,000 after purchasing an additional 61 shares during the period. 97.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

IEX has been the subject of a number of analyst reports. Royal Bank of Canada increased their price objective on IDEX from $236.00 to $248.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. TD Cowen cut their price target on shares of IDEX from $240.00 to $230.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Robert W. Baird lowered their price objective on shares of IDEX from $245.00 to $241.00 and set an “outperform” rating for the company in a research note on Thursday, October 31st. Argus cut IDEX from a “buy” rating to a “hold” rating in a research note on Wednesday, August 14th. Finally, Oppenheimer lowered their price target on IDEX from $245.00 to $238.00 and set an “outperform” rating for the company in a research report 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 data from MarketBeat, IDEX presently has a consensus rating of “Moderate Buy” and a consensus target price of $241.14.

IDEX Price Performance

IEX stock opened at $232.50 on Friday. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.97 and a quick ratio of 2.11. IDEX Co. has a 1 year low of $189.51 and a 1 year high of $246.36. The firm has a 50-day moving average of $215.08 and a 200 day moving average of $207.87. The company has a market cap of $17.61 billion, a P/E ratio of 35.99, a PEG ratio of 2.40 and a beta of 0.96.

IDEX (NYSE:IEX) last released its 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. The company had revenue of $798.20 million during the quarter, compared to analysts’ expectations of $793.05 million. IDEX had a return on equity of 15.92% and a net margin of 15.35%. The firm’s revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter last year, the business posted $2.12 EPS. On average, sell-side analysts forecast that IDEX Co. will post 7.88 EPS for the current year.

IDEX Announces Dividend

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