Cetera Investment Advisers Cuts Stake in IDEX Co. (NYSE:IEX)

Cetera Investment Advisers cut its holdings in shares of IDEX Co. (NYSE:IEX) by 29.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,899 shares of the industrial products company’s stock after selling 2,003 shares during the period. Cetera Investment Advisers’ holdings in IDEX were worth $986,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. HighPoint Advisor Group LLC bought a new position in shares of IDEX in the fourth quarter worth about $323,000. Nomura Holdings Inc. purchased a new position in shares of IDEX in the 4th quarter worth approximately $332,000. Mather Group LLC. purchased a new position in shares of IDEX in the 1st quarter worth approximately $123,000. Czech National Bank boosted its holdings in shares of IDEX by 0.5% in the 1st quarter. Czech National Bank now owns 13,306 shares of the industrial products company’s stock worth $3,247,000 after purchasing an additional 61 shares during the period. Finally, Wedmont Private Capital purchased a new position in shares of IDEX in the 1st quarter worth approximately $233,000. 97.96% of the stock is owned by hedge funds and other institutional investors.

IDEX Trading Down 0.3 %

IEX opened at $209.87 on Friday. IDEX Co. has a 12 month low of $183.76 and a 12 month high of $246.36. The stock has a market capitalization of $15.89 billion, a price-to-earnings ratio of 27.61, a PEG ratio of 2.20 and a beta of 0.95. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.41 and a quick ratio of 2.52. The business has a fifty day moving average price of $204.49 and a 200 day moving average price of $209.84.

IDEX (NYSE:IEX) last announced its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $2.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.04 by $0.02. The company had revenue of $807.20 million during the quarter, compared to the consensus estimate of $828.15 million. IDEX had a return on equity of 16.87% and a net margin of 18.19%. IDEX’s revenue for the quarter was down 4.6% on a year-over-year basis. During the same period in the previous year, the business earned $2.18 EPS. Sell-side analysts expect that IDEX Co. will post 7.88 earnings per share for the current fiscal year.

IDEX Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, October 11th will be given a $0.69 dividend. This represents a $2.76 annualized dividend and a yield of 1.32%. The ex-dividend date is Friday, October 11th. IDEX’s dividend payout ratio (DPR) is presently 36.32%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Oppenheimer decreased their price target on IDEX from $245.00 to $238.00 and set an “outperform” rating for the company in a research note on Monday, August 5th. Royal Bank of Canada decreased their price target on IDEX from $250.00 to $236.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. TD Cowen decreased their price target on IDEX from $240.00 to $230.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. DA Davidson decreased their price target on IDEX from $220.00 to $210.00 and set a “neutral” rating for the company in a research note on Monday, August 5th. Finally, Stifel Nicolaus raised their price target on IDEX from $232.00 to $244.00 and gave the stock a “buy” rating in a research note on Wednesday. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $239.43.

IDEX 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.