IDEX Co. (NYSE:IEX) Shares Sold by Creative Planning

Creative Planning trimmed its stake in IDEX Co. (NYSE:IEX) by 6.0% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 5,024 shares of the industrial products company’s stock after selling 323 shares during the quarter. Creative Planning’s holdings in IDEX were worth $1,078,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of IEX. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in IDEX by 1.9% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 183,945 shares of the industrial products company’s stock valued at $44,886,000 after purchasing an additional 3,391 shares during the period. Norden Group LLC bought a new position in IDEX in the 1st quarter worth approximately $473,000. First Trust Direct Indexing L.P. acquired a new stake in IDEX in the 1st quarter valued at approximately $257,000. Van ECK Associates Corp raised its stake in IDEX by 6.9% during the 1st quarter. Van ECK Associates Corp now owns 11,177 shares of the industrial products company’s stock valued at $2,727,000 after acquiring an additional 720 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its stake in shares of IDEX by 90.1% in the first quarter. BNP Paribas Financial Markets now owns 69,984 shares of the industrial products company’s stock worth $17,077,000 after purchasing an additional 33,162 shares in the last quarter. Institutional investors and hedge funds own 97.96% of the company’s stock.

IDEX Stock Performance

IEX opened at $214.54 on Friday. The company has a quick ratio of 2.52, a current ratio of 3.41 and a debt-to-equity ratio of 0.36. The firm has a market cap of $16.24 billion, a PE ratio of 28.08, a P/E/G ratio of 2.20 and a beta of 0.95. The business has a fifty day simple moving average of $206.81 and a 200-day simple moving average of $207.75. IDEX Co. has a fifty-two week low of $183.76 and a fifty-two week 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, beating analysts’ consensus estimates of $1.89 by $0.01. The business had revenue of $798.20 million during the quarter, compared to analyst estimates of $793.05 million. IDEX had a return on equity of 16.87% and a net margin of 18.19%. IDEX’s revenue for the quarter was up .6% on a year-over-year basis. During the same quarter last year, the company posted $2.12 EPS. As a group, equities analysts predict that IDEX Co. will post 7.87 EPS for the current fiscal year.

IDEX Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Friday, October 11th were given a $0.69 dividend. The ex-dividend date was Friday, October 11th. This represents a $2.76 annualized dividend and a dividend yield of 1.29%. IDEX’s dividend payout ratio (DPR) is presently 36.13%.

Analyst Upgrades and Downgrades

IEX has been the topic of a number of recent analyst reports. Robert W. Baird cut their price objective on shares of IDEX from $245.00 to $241.00 and set an “outperform” rating on the stock in a research note on Thursday. Oppenheimer dropped their price target on shares of IDEX from $245.00 to $238.00 and set an “outperform” rating on the stock in a research report on Monday, August 5th. Argus cut shares of IDEX from a “buy” rating to a “hold” rating in a report on Wednesday, August 14th. Royal Bank of Canada boosted their target price on IDEX from $236.00 to $248.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, StockNews.com lowered IDEX from a “buy” rating to a “hold” rating in a research note on Thursday, July 11th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, IDEX presently has a consensus rating of “Moderate Buy” and an average price target of $241.14.

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.