Duff & Phelps Investment Management Co. Decreases Stake in IDEX Co. (NYSE:IEX)

Duff & Phelps Investment Management Co. trimmed its position in shares of IDEX Co. (NYSE:IEX) by 47.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 45,324 shares of the industrial products company’s stock after selling 41,296 shares during the period. Duff & Phelps Investment Management Co. owned about 0.06% of IDEX worth $9,722,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in IEX. Boston Trust Walden Corp raised 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 valued at $45,047,000 after purchasing an additional 7,222 shares in the last quarter. D. E. Shaw & Co. Inc. lifted its holdings in IDEX by 247.0% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 198,170 shares of the industrial products company’s stock worth $39,872,000 after buying an additional 141,064 shares during the last quarter. Qsemble Capital Management LP acquired a new position in shares of IDEX during the 2nd quarter worth about $3,627,000. Marshall Wace LLP increased its holdings in shares of IDEX by 162.1% in the 2nd quarter. Marshall Wace LLP now owns 101,558 shares of the industrial products company’s stock valued at $20,433,000 after acquiring an additional 62,803 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. raised its position in shares of IDEX by 2.7% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 168,023 shares of the industrial products company’s stock worth $36,041,000 after acquiring an additional 4,465 shares in the last quarter. Institutional investors and hedge funds own 97.96% of the company’s stock.

Analysts Set New Price Targets

IEX has been the topic of several recent analyst reports. Stifel Nicolaus increased their price target on shares of IDEX from $232.00 to $244.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Royal Bank of Canada increased their target price on shares of IDEX from $248.00 to $258.00 and gave the company an “outperform” rating in a research report on Friday. Argus cut shares of IDEX from a “buy” rating to a “hold” rating in a research report on Wednesday, August 14th. Finally, Robert W. Baird dropped their price objective on IDEX from $245.00 to $241.00 and set an “outperform” rating on the stock in a report on Thursday, October 31st. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $242.57.

IDEX Trading Up 0.6 %

NYSE IEX opened at $229.71 on Monday. IDEX Co. has a one year low of $189.51 and a one year high of $246.36. The firm has a market cap of $17.39 billion, a PE ratio of 35.56, a P/E/G ratio of 2.43 and a beta of 0.96. The firm’s fifty day moving average is $219.43 and its two-hundred day moving average is $208.38. 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 (NYSE:IEX) last issued its quarterly 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. IDEX had a return on equity of 15.92% and a net margin of 15.35%. The firm had revenue of $798.20 million for the quarter, compared to analysts’ expectations of $793.05 million. During the same quarter in the previous year, the firm posted $2.12 EPS. The firm’s revenue for the quarter was up .6% on a year-over-year basis. Analysts expect that IDEX Co. will post 7.89 earnings per share for the current year.

IDEX Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors 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 1.20%. IDEX’s dividend payout ratio (DPR) is 42.72%.

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.