Quantinno Capital Management LP Increases Stake in IDEX Co. (NYSE:IEX)

Quantinno Capital Management LP lifted its holdings in IDEX Co. (NYSE:IEX) by 34.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,596 shares of the industrial products company’s stock after buying an additional 913 shares during the quarter. Quantinno Capital Management LP’s holdings in IDEX were worth $771,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

IEX has been the topic of several recent research reports. Stifel Nicolaus upped their price objective on IDEX from $244.00 to $256.00 and gave the company a “buy” rating in a research report on Wednesday. Royal Bank of Canada boosted their price objective on shares of IDEX from $248.00 to $258.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. Citigroup upped their price objective on IDEX from $251.00 to $269.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Finally, Robert W. Baird lowered their price target on IDEX from $245.00 to $241.00 and set an “outperform” rating for the company in a research report on Thursday, October 31st. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, IDEX presently has a consensus rating of “Moderate Buy” and a consensus price target of $243.14.

IDEX Stock Performance

NYSE:IEX opened at $223.00 on Friday. IDEX Co. has a twelve month low of $189.51 and a twelve month high of $246.36. The firm has a market capitalization of $16.89 billion, a price-to-earnings ratio of 34.52, a PEG ratio of 2.41 and a beta of 0.96. 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 firm’s fifty day simple moving average is $220.89 and its 200 day simple moving average is $208.87.

IDEX (NYSE:IEX) last issued its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $1.90 EPS for the quarter, topping analysts’ consensus estimates of $1.89 by $0.01. The company had revenue of $798.20 million for 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 quarterly revenue was up .6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.12 earnings per share. As a group, equities research analysts expect that IDEX Co. will post 7.89 earnings per share for the current fiscal year.

IDEX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 17th will be paid a $0.69 dividend. The ex-dividend date of this dividend is Friday, January 17th. This represents a $2.76 annualized dividend and a dividend yield of 1.24%. IDEX’s dividend payout ratio (DPR) is presently 42.72%.

IDEX Company 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.