IDEX Co. (NYSE:IEX) Shares Sold by Primecap Management Co. CA

Primecap Management Co. CA lowered its stake in IDEX Co. (NYSE:IEX - Free Report) by 3.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 294,495 shares of the industrial products company's stock after selling 9,280 shares during the period. Primecap Management Co. CA owned 0.39% of IDEX worth $63,169,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Catalyst Capital Advisors LLC raised its stake in 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 acquiring an additional 59 shares during the last quarter. Assetmark Inc. acquired a new stake in shares of IDEX during the third quarter worth about $39,000. EdgeRock Capital LLC purchased a new stake in IDEX in the second quarter valued at approximately $41,000. Whittier Trust Co. increased its holdings in IDEX by 38.4% in the 2nd quarter. Whittier Trust Co. now owns 209 shares of the industrial products company's stock worth $42,000 after buying an additional 58 shares during the period. Finally, Livforsakringsbolaget Skandia Omsesidigt raised its position in IDEX by 100.0% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 200 shares of the industrial products company's stock worth $43,000 after buying an additional 100 shares during the last quarter. 97.96% of the stock is currently owned by institutional investors and hedge funds.

IDEX Price Performance

Shares of IEX stock traded up $5.05 during trading hours on Friday, hitting $232.50. 409,740 shares of the company's stock were exchanged, compared to its average volume of 481,718. The firm has a 50 day moving average of $215.08 and a two-hundred day moving average of $207.96. IDEX Co. has a fifty-two week low of $189.51 and a fifty-two week high of $246.36. The firm has a market cap of $17.60 billion, a P/E ratio of 35.99, a P/E/G ratio of 2.36 and a beta of 0.96. The company has a quick ratio of 2.11, a current ratio of 2.97 and a debt-to-equity ratio of 0.54.

IDEX (NYSE:IEX - Get Free Report) last announced its earnings results on Tuesday, October 29th. The industrial products company reported $1.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.01. The business had revenue of $798.20 million for the quarter, compared to analyst estimates of $793.05 million. IDEX had a net margin of 15.35% and a return on equity of 15.92%. The company's revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter last year, the business earned $2.12 earnings per share. Sell-side analysts forecast that IDEX Co. will post 7.88 EPS 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 paid a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date is Friday, January 17th. IDEX's dividend payout ratio is presently 42.72%.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Stifel Nicolaus upped their price objective on shares of IDEX from $232.00 to $244.00 and gave the company a "buy" rating in a report on Wednesday, October 16th. DA Davidson lowered their price target on shares of IDEX from $220.00 to $210.00 and set a "neutral" rating on the stock in a report on Monday, August 5th. Argus lowered IDEX from a "buy" rating to a "hold" rating in a research note on Wednesday, August 14th. Robert W. Baird lowered their target price on IDEX from $245.00 to $241.00 and set an "outperform" rating on the stock in a research note on Thursday, October 31st. Finally, Oppenheimer reduced their price target on IDEX from $245.00 to $238.00 and set an "outperform" rating for the company in a research report on Monday, August 5th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, IDEX presently has an average rating of "Moderate Buy" and an average price target of $241.14.

IDEX 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.