Intech Investment Management LLC Has $2.94 Million Position in IDEX Co. (NYSE:IEX)

Intech Investment Management LLC lessened its position in IDEX Co. (NYSE:IEX - Free Report) by 33.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 13,713 shares of the industrial products company's stock after selling 6,743 shares during the quarter. Intech Investment Management LLC's holdings in IDEX were worth $2,941,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in IDEX by 7.1% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 250,443 shares of the industrial products company's stock worth $53,720,000 after purchasing an additional 16,504 shares during the last quarter. King Luther Capital Management Corp increased its position in shares of IDEX by 16.2% in the third quarter. King Luther Capital Management Corp now owns 742,724 shares of the industrial products company's stock valued at $159,314,000 after acquiring an additional 103,432 shares during the last quarter. Grandfield & Dodd LLC bought a new stake in IDEX during the third quarter worth about $211,000. Ontario Teachers Pension Plan Board boosted its position in IDEX by 92.1% during the third quarter. Ontario Teachers Pension Plan Board now owns 2,765 shares of the industrial products company's stock valued at $593,000 after purchasing an additional 1,326 shares during the last quarter. Finally, Prospera Private Wealth LLC bought a new position in IDEX in the third quarter valued at approximately $1,624,000. 97.96% of the stock is owned by institutional investors.

IDEX Stock Performance

IEX stock traded up $5.05 during trading hours on Friday, hitting $232.50. 409,966 shares of the stock were exchanged, compared to its average volume of 701,295. The company has a 50-day simple moving average of $215.08 and a two-hundred day simple moving average of $207.77. The firm has a market capitalization of $17.61 billion, a P/E ratio of 35.99, a P/E/G ratio of 2.40 and a beta of 0.96. IDEX Co. has a 12 month low of $189.51 and a 12 month high of $246.36. 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 (NYSE:IEX - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $1.90 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $798.20 million during the quarter, compared to the consensus estimate of $793.05 million. During the same quarter in the previous year, the firm posted $2.12 EPS. The business's revenue for the quarter was up .6% compared to the same quarter last year. On average, analysts forecast that IDEX Co. will post 7.88 earnings per share for the current fiscal year.

IDEX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 17th will be paid a dividend of $0.69 per share. The ex-dividend date is Friday, January 17th. This represents a $2.76 dividend on an annualized basis and a yield of 1.19%. IDEX's dividend payout ratio (DPR) is presently 42.72%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Oppenheimer decreased their target price on shares of IDEX from $245.00 to $238.00 and set an "outperform" rating for the company in a research note on Monday, August 5th. Stifel Nicolaus boosted their price objective on shares of IDEX from $232.00 to $244.00 and gave the stock a "buy" rating in a research note on Wednesday, October 16th. Robert W. Baird cut their target price on shares of IDEX from $245.00 to $241.00 and set an "outperform" rating for the company in a research note on Thursday, October 31st. Royal Bank of Canada upped their price objective on IDEX from $236.00 to $248.00 and gave the company an "outperform" rating in a research note on Thursday, October 31st. Finally, TD Cowen reduced their target price on IDEX from $240.00 to $230.00 and set a "buy" rating for the company in a research note on Wednesday, August 7th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, IDEX currently has a consensus rating of "Moderate Buy" and a consensus price target 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.