Verition Fund Management LLC Has $3.90 Million Stake in IDEX Co. (NYSE:IEX)

Verition Fund Management LLC raised its position in IDEX Co. (NYSE:IEX - Free Report) by 39.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 18,191 shares of the industrial products company's stock after buying an additional 5,131 shares during the period. Verition Fund Management LLC's holdings in IDEX were worth $3,902,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Studio Investment Management LLC increased its position in shares of IDEX by 4.9% during the third quarter. Studio Investment Management LLC now owns 955 shares of the industrial products company's stock worth $205,000 after purchasing an additional 45 shares in the last quarter. UMB Bank n.a. lifted its stake in shares of IDEX by 31.0% in the second quarter. UMB Bank n.a. now owns 241 shares of the industrial products company's stock worth $48,000 after buying an additional 57 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in IDEX by 19.9% during the second quarter. EverSource Wealth Advisors LLC now owns 344 shares of the industrial products company's stock worth $72,000 after acquiring an additional 57 shares during the last quarter. Whittier Trust Co. grew its stake in IDEX by 38.4% during the 2nd quarter. Whittier Trust Co. now owns 209 shares of the industrial products company's stock valued at $42,000 after acquiring an additional 58 shares in the last quarter. Finally, Catalyst Capital Advisors LLC lifted 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 purchasing an additional 59 shares in the last quarter. 97.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

IEX has been the subject of several recent research reports. Robert W. Baird cut their price target on IDEX from $245.00 to $241.00 and set an "outperform" rating for the company in a report on Thursday, October 31st. Argus lowered IDEX from a "buy" rating to a "hold" rating in a research report on Wednesday, August 14th. TD Cowen reduced their target price on shares of IDEX from $240.00 to $230.00 and set a "buy" rating on the stock in a report on Wednesday, August 7th. Stifel Nicolaus raised their target price on shares of IDEX from $232.00 to $244.00 and gave the company a "buy" rating in a report on Wednesday, October 16th. Finally, Royal Bank of Canada increased 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. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $241.14.

IDEX Stock Down 1.2 %

NYSE IEX traded down $2.74 during trading hours on Wednesday, hitting $227.76. The company had a trading volume of 571,003 shares, compared to its average volume of 482,328. The firm's 50 day moving average is $218.46 and its 200 day moving average is $208.16. The company has a market capitalization of $17.25 billion, a price-to-earnings ratio of 35.68, a P/E/G ratio of 2.45 and a beta of 0.96. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.97 and a quick ratio of 2.11. 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 issued its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $1.90 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.89 by $0.01. IDEX had a net margin of 15.35% and a return on equity of 15.92%. The business had revenue of $798.20 million during the quarter, compared to analyst estimates of $793.05 million. During the same quarter in the previous year, the firm earned $2.12 earnings per share. The business's revenue was up .6% compared to the same quarter last year. Sell-side analysts anticipate that IDEX Co. will post 7.89 earnings per share for the current fiscal year.

IDEX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 17th will be given a $0.69 dividend. The ex-dividend date is Friday, January 17th. This represents a $2.76 dividend on an annualized basis and a yield of 1.21%. IDEX's dividend payout ratio (DPR) is 42.72%.

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.