Massachusetts Financial Services Co. MA Has $1.63 Million Stake in IDEX Co. (NYSE:IEX)

Massachusetts Financial Services Co. MA reduced its stake in shares of IDEX Co. (NYSE:IEX - Free Report) by 70.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,590 shares of the industrial products company's stock after selling 17,704 shares during the quarter. Massachusetts Financial Services Co. MA's holdings in IDEX were worth $1,628,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the stock. Tidal Investments LLC grew its position in IDEX by 8.8% during the first quarter. Tidal Investments LLC now owns 4,383 shares of the industrial products company's stock worth $1,070,000 after buying an additional 356 shares in the last quarter. Comerica Bank raised its stake in shares of IDEX by 0.3% in the first quarter. Comerica Bank now owns 74,095 shares of the industrial products company's stock valued at $18,081,000 after purchasing an additional 248 shares in the last quarter. Wahed Invest LLC lifted its position in IDEX by 14.9% in the first quarter. Wahed Invest LLC now owns 1,481 shares of the industrial products company's stock worth $361,000 after purchasing an additional 192 shares during the period. Virtu Financial LLC acquired a new stake in IDEX during the first quarter worth $469,000. Finally, Swedbank AB bought a new position in shares of IDEX during the 1st quarter worth about $11,765,000. 97.96% of the stock is owned by institutional investors.

IDEX Trading Down 0.4 %

IDEX stock traded down $0.92 during trading hours on Thursday, reaching $231.10. 728,299 shares of the company's stock traded hands, compared to its average volume of 483,857. 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 firm has a market capitalization of $17.50 billion, a price-to-earnings ratio of 35.77, a PEG ratio of 2.50 and a beta of 0.96. The firm's 50 day moving average is $216.81 and its 200-day moving average is $208.07. IDEX Co. has a fifty-two week low of $189.51 and a fifty-two week high of $246.36.

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 the consensus estimate of $1.89 by $0.01. IDEX had a return on equity of 15.92% and a net margin of 15.35%. The business had revenue of $798.20 million for the quarter, compared to analyst estimates of $793.05 million. During the same period last year, the company earned $2.12 EPS. The firm's revenue was up .6% on a year-over-year basis. On average, analysts predict that IDEX Co. will post 7.88 earnings per share for the current year.

IDEX Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 17th will be given a dividend of $0.69 per share. The ex-dividend date of this dividend is Friday, January 17th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.19%. IDEX's dividend payout ratio is 42.72%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on IEX shares. Argus downgraded IDEX from a "buy" rating to a "hold" rating in a report on Wednesday, August 14th. Oppenheimer lowered their target price 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. Stifel Nicolaus lifted their target price on shares of IDEX from $232.00 to $244.00 and gave the company a "buy" rating in a research note on Wednesday, October 16th. DA Davidson decreased their price target on IDEX from $220.00 to $210.00 and set a "neutral" rating on the stock in a research report on Monday, August 5th. Finally, Robert W. Baird cut their price objective on IDEX from $245.00 to $241.00 and set an "outperform" rating for the company in a research report on Thursday, October 31st. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average 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.