Thrivent Financial for Lutherans Reduces Stock Holdings in IDEX Co. (NYSE:IEX)

Thrivent Financial for Lutherans lowered its stake in IDEX Co. (NYSE:IEX - Free Report) by 77.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,888 shares of the industrial products company's stock after selling 69,110 shares during the period. Thrivent Financial for Lutherans' holdings in IDEX were worth $4,266,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in IEX. Boston Trust Walden Corp lifted its holdings in shares of IDEX by 3.3% in the 2nd quarter. Boston Trust Walden Corp now owns 223,892 shares of the industrial products company's stock worth $45,047,000 after acquiring an additional 7,222 shares during the last quarter. D. E. Shaw & Co. Inc. lifted its stake in IDEX by 247.0% in the second quarter. D. E. Shaw & Co. Inc. now owns 198,170 shares of the industrial products company's stock worth $39,872,000 after purchasing an additional 141,064 shares during the last quarter. Qsemble Capital Management LP purchased a new position in shares of IDEX during the second quarter valued at approximately $3,627,000. Marshall Wace LLP grew its stake in shares of IDEX by 162.1% during the second quarter. Marshall Wace LLP now owns 101,558 shares of the industrial products company's stock valued at $20,433,000 after buying an additional 62,803 shares during the last quarter. Finally, Swedbank AB bought a new position in shares of IDEX during the first quarter valued at approximately $11,765,000. 97.96% of the stock is owned by institutional investors.

IDEX Price Performance

NYSE IEX opened at $232.50 on Monday. The company has a market cap of $17.60 billion, a PE ratio of 35.99, a P/E/G ratio of 2.46 and a beta of 0.96. The firm's 50 day moving average price is $215.08 and its 200-day moving average price is $207.77. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.11 and a current ratio of 2.97. IDEX Co. has a 52-week low of $189.51 and a 52-week high of $246.36.

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 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 for the quarter was up .6% on a year-over-year basis. During the same quarter last year, the firm earned $2.12 EPS. Sell-side analysts forecast that IDEX Co. will post 7.88 EPS for the current fiscal 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 issued 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 of this dividend is Friday, January 17th. IDEX's dividend payout ratio is currently 42.72%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on IEX shares. Royal Bank of Canada boosted their price objective on IDEX from $236.00 to $248.00 and gave the company an "outperform" rating in a report on Thursday, October 31st. DA Davidson lowered their target price on shares of IDEX from $220.00 to $210.00 and set a "neutral" rating for the company in a research note on Monday, August 5th. Robert W. Baird reduced their price target on shares of IDEX from $245.00 to $241.00 and set an "outperform" rating on the stock in a research note on Thursday, October 31st. Oppenheimer lowered their price objective on shares of IDEX from $245.00 to $238.00 and set an "outperform" rating for the company in a research report on Monday, August 5th. Finally, Stifel Nicolaus raised their target price on shares of IDEX from $232.00 to $244.00 and gave the stock a "buy" rating in a research report on Wednesday, October 16th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus 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.