IDEX Co. (NYSE:IEX) Stock Position Decreased by Geneva Capital Management LLC

Geneva Capital Management LLC trimmed its stake in IDEX Co. (NYSE:IEX) by 2.2% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 118,734 shares of the industrial products company’s stock after selling 2,654 shares during the quarter. Geneva Capital Management LLC owned approximately 0.16% of IDEX worth $28,973,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of IEX. Nordea Investment Management AB boosted its holdings in shares of IDEX by 1,196.4% in the fourth quarter. Nordea Investment Management AB now owns 135,825 shares of the industrial products company’s stock valued at $29,598,000 after acquiring an additional 125,348 shares in the last quarter. UBS Group AG lifted its position in IDEX by 177.3% during the 4th quarter. UBS Group AG now owns 57,255 shares of the industrial products company’s stock worth $12,431,000 after acquiring an additional 36,606 shares during the last quarter. Impax Asset Management Group plc raised its stake in IDEX by 4.0% during the 4th quarter. Impax Asset Management Group plc now owns 2,190,741 shares of the industrial products company’s stock valued at $475,632,000 after purchasing an additional 84,502 shares during the last quarter. Deutsche Bank AG grew its holdings in shares of IDEX by 13.3% during the 3rd quarter. Deutsche Bank AG now owns 244,610 shares of the industrial products company’s stock worth $50,884,000 after purchasing an additional 28,661 shares in the last quarter. Finally, Raymond James & Associates lifted its stake in IDEX by 11.2% during the fourth quarter. Raymond James & Associates now owns 76,465 shares of the industrial products company’s stock worth $16,601,000 after purchasing an additional 7,684 shares during the period. Institutional investors own 97.96% of the company’s stock.

IDEX Stock Up 2.5 %

IDEX stock traded up $5.04 during trading on Thursday, hitting $203.48. 608,696 shares of the company were exchanged, compared to its average volume of 421,399. The company has a current ratio of 3.37, a quick ratio of 2.45 and a debt-to-equity ratio of 0.37. The business’s 50 day moving average is $208.58 and its 200 day moving average is $220.27. IDEX Co. has a 52 week low of $183.76 and a 52 week high of $246.36. The company has a market capitalization of $15.40 billion, a P/E ratio of 26.11, a PEG ratio of 1.96 and a beta of 0.95.

IDEX (NYSE:IEX) last issued its quarterly earnings results on Tuesday, April 23rd. The industrial products company reported $1.88 EPS for the quarter, topping analysts’ consensus estimates of $1.76 by $0.12. The business had revenue of $801.00 million for the quarter, compared to analyst estimates of $807.52 million. IDEX had a return on equity of 17.60% and a net margin of 17.89%. IDEX’s quarterly revenue was down 5.3% compared to the same quarter last year. During the same period last year, the company posted $2.09 earnings per share. Analysts predict that IDEX Co. will post 8.31 earnings per share for the current year.

IDEX Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Stockholders of record on Friday, July 12th will be paid a dividend of $0.69 per share. The ex-dividend date of this dividend is Friday, July 12th. This represents a $2.76 annualized dividend and a dividend yield of 1.36%. IDEX’s payout ratio is 36.32%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on IEX shares. Oppenheimer boosted their target price on IDEX from $245.00 to $252.00 and gave the stock an “outperform” rating in a research report on Thursday, April 18th. Citigroup upped their price objective on shares of IDEX from $254.00 to $277.00 and gave the company a “buy” rating in a report on Monday, April 8th. StockNews.com raised shares of IDEX from a “hold” rating to a “buy” rating in a report on Saturday, May 18th. Robert W. Baird cut their target price on IDEX from $260.00 to $256.00 and set an “outperform” rating for the company in a research note on Thursday, April 25th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $255.00 price objective on shares of IDEX in a research note on Thursday, March 21st. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $250.71.

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.