Prospera Private Wealth LLC Acquires Shares of 7,571 IDEX Co. (NYSE:IEX)

Prospera Private Wealth LLC bought a new stake in IDEX Co. (NYSE:IEX - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 7,571 shares of the industrial products company's stock, valued at approximately $1,624,000.

Several other hedge funds also recently bought and sold shares of the company. Catalyst Capital Advisors LLC raised its stake in IDEX by 73.8% during 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 during the period. Assetmark Inc. acquired a new stake in shares of IDEX during the third quarter worth about $39,000. EdgeRock Capital LLC bought a new position in shares of IDEX during the 2nd quarter valued at about $41,000. Whittier Trust Co. grew its position in shares of IDEX by 38.4% in the 2nd quarter. Whittier Trust Co. now owns 209 shares of the industrial products company's stock valued at $42,000 after purchasing an additional 58 shares during the period. Finally, Livforsakringsbolaget Skandia Omsesidigt increased its stake 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 purchasing an additional 100 shares in the last quarter. 97.96% of the stock is currently owned by institutional investors and hedge funds.

IDEX Stock Performance

Shares of IEX stock traded down $2.37 on Wednesday, reaching $221.24. The stock had a trading volume of 176,574 shares, compared to its average volume of 480,642. IDEX Co. has a 12 month low of $189.51 and a 12 month high of $246.36. The firm has a market capitalization of $16.75 billion, a price-to-earnings ratio of 34.61, a P/E/G ratio of 2.41 and a beta of 0.96. The firm's 50-day moving average is $213.32 and its two-hundred day moving average is $207.65. 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 released 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. The company had revenue of $798.20 million during the quarter, compared to analysts' expectations of $793.05 million. IDEX had a return on equity of 15.92% and a net margin of 15.35%. The business's revenue was up .6% on a year-over-year basis. During the same period last year, the firm posted $2.12 earnings per share. On average, research analysts expect that IDEX Co. will post 7.88 EPS for the current fiscal year.

IDEX Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 17th will be given a $0.69 dividend. This represents a $2.76 annualized dividend and a dividend yield of 1.25%. The ex-dividend date is Friday, January 17th. IDEX's payout ratio is presently 42.72%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on IEX shares. Robert W. Baird reduced their price target on shares of IDEX from $245.00 to $241.00 and set an "outperform" rating for the company in a report on Thursday, October 31st. Argus cut IDEX from a "buy" rating to a "hold" rating in a report on Wednesday, August 14th. Royal Bank of Canada boosted their target price on IDEX from $236.00 to $248.00 and gave the company an "outperform" rating in a research note on Thursday, October 31st. Oppenheimer reduced their target price 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. Finally, 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 research note on Monday, August 5th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price 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.