Compass Ion Advisors LLC Cuts Position in IDEX Co. (NYSE:IEX)

Compass Ion Advisors LLC lessened its holdings in IDEX Co. (NYSE:IEX) by 37.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,547 shares of the industrial products company’s stock after selling 2,675 shares during the quarter. Compass Ion Advisors LLC’s holdings in IDEX were worth $1,110,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the business. Nordea Investment Management AB raised its position in 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 worth $29,598,000 after acquiring an additional 125,348 shares during the period. UBS Group AG raised its holdings in shares of IDEX by 177.3% in the 4th quarter. UBS Group AG now owns 57,255 shares of the industrial products company’s stock worth $12,431,000 after purchasing an additional 36,606 shares during the period. Impax Asset Management Group plc grew its holdings in IDEX by 4.0% during the fourth 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 period. Deutsche Bank AG increased its position in IDEX by 13.3% in the third quarter. Deutsche Bank AG now owns 244,610 shares of the industrial products company’s stock worth $50,884,000 after buying an additional 28,661 shares during the last quarter. Finally, Raymond James & Associates raised its stake in shares of IDEX by 11.2% in the fourth quarter. Raymond James & Associates now owns 76,465 shares of the industrial products company’s stock valued at $16,601,000 after buying an additional 7,684 shares during the period. 97.96% of the stock is currently owned by institutional investors.

IDEX Trading Up 0.5 %

IDEX stock opened at $201.20 on Monday. The stock has a market cap of $15.23 billion, a P/E ratio of 26.47, a PEG ratio of 2.02 and a beta of 0.96. IDEX Co. has a fifty-two week low of $183.76 and a fifty-two week high of $246.36. The firm’s fifty day moving average price is $213.18 and its 200-day moving average price is $221.30. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.45 and a current ratio of 3.37.

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

IDEX Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Friday, July 12th will be paid a $0.69 dividend. The ex-dividend date is Friday, July 12th. This represents a $2.76 dividend on an annualized basis and a yield of 1.37%. IDEX’s dividend payout ratio is presently 36.32%.

Analyst Upgrades and Downgrades

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