Independent Advisor Alliance Sells 2,400 Shares of IDEX Co. (NYSE:IEX)

Independent Advisor Alliance lessened its holdings in IDEX Co. (NYSE:IEX - Free Report) by 12.5% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,776 shares of the industrial products company's stock after selling 2,400 shares during the period. Independent Advisor Alliance's holdings in IDEX were worth $3,598,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in IEX. Catalyst Capital Advisors LLC raised its holdings in shares of IDEX by 73.8% in the 3rd 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 in the last quarter. Assetmark Inc. bought a new stake in IDEX in the third quarter valued at $39,000. EdgeRock Capital LLC acquired a new position in IDEX during the second quarter worth $41,000. Whittier Trust Co. lifted its holdings in shares of IDEX by 38.4% during the second quarter. Whittier Trust Co. now owns 209 shares of the industrial products company's stock valued at $42,000 after acquiring an additional 58 shares during the period. Finally, Livforsakringsbolaget Skandia Omsesidigt boosted its stake in shares of IDEX by 100.0% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 200 shares of the industrial products company's stock valued at $43,000 after purchasing an additional 100 shares in the last quarter. Institutional investors own 97.96% of the company's stock.

IDEX Price Performance

IDEX stock traded down $4.04 during trading hours on Tuesday, reaching $232.02. 482,289 shares of the stock were exchanged, compared to its average volume of 482,790. The stock has a 50 day moving average of $215.75 and a two-hundred day moving average of $207.86. The company has a current ratio of 2.97, a quick ratio of 2.11 and a debt-to-equity ratio of 0.54. IDEX Co. has a twelve month low of $189.51 and a twelve month high of $246.36. The company has a market cap of $17.57 billion, a P/E ratio of 35.92, a price-to-earnings-growth ratio of 2.46 and a beta of 0.96.

IDEX (NYSE:IEX - Get Free Report) last issued its quarterly earnings results 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 net margin of 15.35% and a return on equity of 15.92%. The company had revenue of $798.20 million for the quarter, compared to analyst estimates of $793.05 million. During the same quarter in the previous year, the business earned $2.12 earnings per share. IDEX's revenue was up .6% compared to the same quarter last year. Equities analysts expect that IDEX Co. will post 7.88 EPS for the current fiscal year.

IDEX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders 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 dividend yield of 1.19%. The ex-dividend date of this dividend is Friday, January 17th. IDEX's dividend payout ratio is currently 42.72%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on IEX. Oppenheimer cut their price target on shares of IDEX from $245.00 to $238.00 and set an "outperform" rating for the company in a report on Monday, August 5th. Argus cut shares of IDEX from a "buy" rating to a "hold" rating in a research note on Wednesday, August 14th. Robert W. Baird decreased their price target on IDEX from $245.00 to $241.00 and set an "outperform" rating on the stock in a research report on Thursday, October 31st. TD Cowen cut their price objective on IDEX from $240.00 to $230.00 and set a "buy" rating for the company in a research report on Wednesday, August 7th. Finally, DA Davidson decreased their target price on IDEX from $220.00 to $210.00 and set a "neutral" rating on the stock in a report on Monday, August 5th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price 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.