Net Worth Advisory Group Takes $553,000 Position in IDEX Co. (NYSE:IEX)

Net Worth Advisory Group purchased a new position in shares of IDEX Co. (NYSE:IEX - Free Report) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 2,578 shares of the industrial products company's stock, valued at approximately $553,000.

Several other large investors have also made changes to their positions in IEX. UMB Bank n.a. grew its position in IDEX by 31.0% in the second quarter. UMB Bank n.a. now owns 241 shares of the industrial products company's stock valued at $48,000 after acquiring an additional 57 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings 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 valued at $72,000 after purchasing an additional 57 shares during the last quarter. Whittier Trust Co. increased its position in IDEX by 38.4% during the 2nd quarter. Whittier Trust Co. now owns 209 shares of the industrial products company's stock worth $42,000 after purchasing an additional 58 shares in the last quarter. Czech National Bank lifted its stake in IDEX by 0.5% in the 1st quarter. Czech National Bank now owns 13,306 shares of the industrial products company's stock valued at $3,247,000 after purchasing an additional 61 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund boosted 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 buying an additional 61 shares in the last quarter. Institutional investors and hedge funds own 97.96% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Argus downgraded shares of IDEX from a "buy" rating to a "hold" rating in a report on Wednesday, August 14th. Stifel Nicolaus upped their target price on IDEX from $232.00 to $244.00 and gave the stock a "buy" rating in a report on Wednesday. Royal Bank of Canada cut their price target on IDEX from $250.00 to $236.00 and set an "outperform" rating on the stock in a research note on Friday, August 2nd. Robert W. Baird reduced their price target on IDEX from $256.00 to $241.00 and set an "outperform" rating on the stock in a report on Friday, August 2nd. Finally, DA Davidson dropped their price objective on shares of IDEX from $220.00 to $210.00 and set a "neutral" rating for the company in a report on Monday, August 5th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $239.43.

IDEX Trading Up 0.3 %

IDEX stock traded up $0.65 during mid-day trading on Friday, hitting $210.53. 283,789 shares of the stock were exchanged, compared to its average volume of 463,469. The firm's fifty day simple moving average is $204.81 and its two-hundred day simple moving average is $209.41. The company has a quick ratio of 2.52, a current ratio of 3.41 and a debt-to-equity ratio of 0.36. IDEX Co. has a 12 month low of $183.76 and a 12 month high of $246.36. The stock has a market capitalization of $15.94 billion, a price-to-earnings ratio of 27.70, a PEG ratio of 2.20 and a beta of 0.95.

IDEX (NYSE:IEX - Get Free Report) last announced its earnings results on Wednesday, July 31st. The industrial products company reported $2.06 earnings per share for the quarter, topping analysts' consensus estimates of $2.04 by $0.02. The business had revenue of $807.20 million during the quarter, compared to the consensus estimate of $828.15 million. IDEX had a net margin of 18.19% and a return on equity of 16.87%. IDEX's quarterly revenue was down 4.6% on a year-over-year basis. During the same quarter last year, the firm earned $2.18 earnings per share. Analysts forecast that IDEX Co. will post 7.88 EPS for the current year.

IDEX Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, October 11th will be paid a dividend of $0.69 per share. The ex-dividend date is Friday, October 11th. This represents a $2.76 annualized dividend and a yield of 1.31%. IDEX's dividend payout ratio is currently 36.32%.

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.