Geneva Capital Management LLC Cuts Stock Holdings in IDEX Co. (NYSE:IEX)

Geneva Capital Management LLC decreased its holdings in shares of IDEX Co. (NYSE:IEX - Free Report) by 2.9% during the third quarter, according to its most recent filing with the SEC. The firm owned 123,025 shares of the industrial products company's stock after selling 3,699 shares during the period. Geneva Capital Management LLC owned 0.16% of IDEX worth $26,389,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in IEX. Van ECK Associates Corp increased its position in IDEX by 9,424.6% during the 3rd quarter. Van ECK Associates Corp now owns 1,032,277 shares of the industrial products company's stock valued at $211,473,000 after purchasing an additional 1,021,439 shares during the period. Price T Rowe Associates Inc. MD increased its position in IDEX by 7.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,964,956 shares of the industrial products company's stock valued at $1,943,609,000 after purchasing an additional 555,250 shares during the period. Hsbc Holdings PLC increased its position in IDEX by 75.6% during the 2nd quarter. Hsbc Holdings PLC now owns 519,124 shares of the industrial products company's stock valued at $104,179,000 after purchasing an additional 223,422 shares during the period. D. E. Shaw & Co. Inc. increased its position in IDEX by 247.0% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 198,170 shares of the industrial products company's stock valued at $39,872,000 after purchasing an additional 141,064 shares during the period. Finally, Millennium Management LLC increased its position in IDEX by 1,541.6% during the 2nd quarter. Millennium Management LLC now owns 138,744 shares of the industrial products company's stock valued at $27,915,000 after purchasing an additional 130,292 shares during the period. Hedge funds and other institutional investors own 97.96% of the company's stock.

IDEX Stock Performance

IEX stock traded up $2.68 during trading on Wednesday, reaching $230.65. The company had a trading volume of 193,840 shares, compared to its average volume of 470,655. IDEX Co. has a twelve month low of $189.51 and a twelve month 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 company has a market cap of $17.46 billion, a price-to-earnings ratio of 35.55, a price-to-earnings-growth ratio of 2.41 and a beta of 0.96. The firm has a 50-day simple moving average of $210.29 and a 200-day simple moving average of $207.42.

IDEX (NYSE:IEX - Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $1.90 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.89 by $0.01. IDEX had a net margin of 15.35% and a return on equity of 15.92%. The company had revenue of $798.20 million during the quarter, compared to analyst estimates of $793.05 million. During the same period last year, the firm posted $2.12 EPS. IDEX's revenue for the quarter was up .6% compared to the same quarter last year. As a group, sell-side analysts expect that IDEX Co. will post 7.88 earnings per share for the current year.

IDEX Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, October 11th were given a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date of this dividend was Friday, October 11th. IDEX's dividend payout ratio is presently 42.72%.

Analyst Upgrades and Downgrades

IEX has been the topic of a number of recent analyst reports. Oppenheimer lowered their price target on shares of IDEX from $245.00 to $238.00 and set an "outperform" rating on the stock in a report on Monday, August 5th. Robert W. Baird lowered their price target on shares of IDEX from $245.00 to $241.00 and set an "outperform" rating on the stock in a report on Thursday, October 31st. Stifel Nicolaus raised their price target on shares of IDEX from $232.00 to $244.00 and gave the company a "buy" rating in a report on Wednesday, October 16th. Argus cut shares of IDEX from a "buy" rating to a "hold" rating in a report on Wednesday, August 14th. Finally, TD Cowen lowered their price target on shares of IDEX from $240.00 to $230.00 and set a "buy" rating on the stock in a report on Wednesday, August 7th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, IDEX presently has an average rating of "Moderate Buy" and an average target price of $241.14.

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.