IDEX Co. (NYSE:IEX) Stock Position Lowered by JPMorgan Chase & Co.

JPMorgan Chase & Co. cut its holdings in IDEX Co. (NYSE:IEX) by 63.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 295,574 shares of the industrial products company’s stock after selling 502,880 shares during the quarter. JPMorgan Chase & Co. owned about 0.39% of IDEX worth $63,401,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in IEX. Catalyst Capital Advisors LLC grew its position in IDEX by 73.8% in the third quarter. Catalyst Capital Advisors LLC now owns 139 shares of the industrial products company’s stock worth $30,000 after buying an additional 59 shares during the last quarter. Assetmark Inc. acquired a new stake in IDEX during the 3rd quarter worth about $39,000. Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in shares of IDEX by 100.0% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 200 shares of the industrial products company’s stock worth $43,000 after purchasing an additional 100 shares during the period. EverSource Wealth Advisors LLC increased its stake in 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 buying an additional 57 shares during the period. Finally, Brooklyn Investment Group purchased a new position in shares of IDEX during the 3rd quarter valued at $86,000. Institutional investors own 97.96% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on IEX. Citigroup upped their target price on IDEX from $251.00 to $269.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Royal Bank of Canada boosted their price objective on shares of IDEX from $248.00 to $258.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Robert W. Baird reduced their price objective on shares of 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 lifted their price objective on IDEX from $244.00 to $256.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, IDEX has an average rating of “Moderate Buy” and a consensus price target of $243.14.

IDEX Stock Up 0.5 %

IEX stock opened at $207.02 on Friday. IDEX Co. has a 52 week low of $189.51 and a 52 week high of $246.36. The company has a market cap of $15.68 billion, a PE ratio of 32.05, a price-to-earnings-growth ratio of 2.36 and a beta of 0.96. 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 business has a 50-day simple moving average of $221.92 and a 200 day simple moving average of $209.63.

IDEX (NYSE:IEX) last posted its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $1.90 earnings per share for the quarter, beating analysts’ consensus estimates of $1.89 by $0.01. The business 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%. IDEX’s quarterly revenue was up .6% on a year-over-year basis. During the same period in the prior year, the business posted $2.12 earnings per share. Sell-side analysts anticipate that IDEX Co. will post 7.89 EPS for the current fiscal year.

IDEX Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 17th will be issued a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a yield of 1.33%. 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.