Private Advisor Group LLC Sells 366 Shares of IDEX Co. (NYSE:IEX)

Private Advisor Group LLC lessened its stake in IDEX Co. (NYSE:IEX) by 21.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,303 shares of the industrial products company’s stock after selling 366 shares during the period. Private Advisor Group LLC’s holdings in IDEX were worth $279,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. UMB Bank n.a. lifted its position in shares of IDEX by 31.0% in the 2nd quarter. UMB Bank n.a. now owns 241 shares of the industrial products company’s stock worth $48,000 after acquiring an additional 57 shares during the period. EverSource Wealth Advisors LLC lifted its position in shares of IDEX by 19.9% during the 2nd 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 stake in IDEX by 38.4% in the 2nd quarter. Whittier Trust Co. now owns 209 shares of the industrial products company’s stock valued at $42,000 after buying an additional 58 shares in the last quarter. Oregon Public Employees Retirement Fund grew its position in IDEX by 1.0% in the second quarter. Oregon Public Employees Retirement Fund now owns 6,476 shares of the industrial products company’s stock valued at $1,303,000 after acquiring an additional 61 shares during the period. Finally, Checchi Capital Advisers LLC raised its stake in IDEX by 5.1% during the second quarter. Checchi Capital Advisers LLC now owns 1,385 shares of the industrial products company’s stock worth $279,000 after acquiring an additional 67 shares in the last quarter. 97.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

IEX has been the topic of a number of recent analyst reports. Argus lowered shares of IDEX from a “buy” rating to a “hold” rating in a research report on Wednesday, August 14th. StockNews.com downgraded IDEX from a “buy” rating to a “hold” rating in a report on Thursday, July 11th. DA Davidson dropped their price target on IDEX from $220.00 to $210.00 and set a “neutral” rating for the company in a report on Monday, August 5th. Robert W. Baird reduced their price objective on IDEX from $245.00 to $241.00 and set an “outperform” rating on the stock in a research note on Thursday, October 31st. Finally, Royal Bank of Canada increased their target price on IDEX from $236.00 to $248.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. 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 has a consensus rating of “Moderate Buy” and a consensus price target of $241.14.

IDEX Stock Up 4.5 %

Shares of IEX opened at $234.90 on Thursday. The firm has a market capitalization of $17.79 billion, a price-to-earnings ratio of 36.36, a PEG ratio of 2.32 and a beta of 0.96. IDEX Co. has a 52 week low of $189.33 and a 52 week high of $246.36. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.11 and a current ratio of 2.97. The business’s fifty day moving average price is $207.78 and its two-hundred day moving average price is $207.29.

IDEX (NYSE:IEX) last announced 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. IDEX had a return on equity of 15.92% and a net margin of 15.35%. The firm had revenue of $798.20 million during the quarter, compared to analyst estimates of $793.05 million. During the same period last year, the company earned $2.12 earnings per share. The company’s revenue was up .6% on a year-over-year basis. On average, analysts predict that IDEX Co. will post 7.87 earnings per share for the current year.

IDEX Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Friday, October 11th were issued a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date was Friday, October 11th. IDEX’s dividend payout ratio is currently 42.72%.

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.