Diversified Trust Co Sells 2,103 Shares of IDEX Co. (NYSE:IEX)

Diversified Trust Co lowered its stake in IDEX Co. (NYSE:IEX) by 37.9% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,439 shares of the industrial products company’s stock after selling 2,103 shares during the quarter. Diversified Trust Co’s holdings in IDEX were worth $839,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of IEX. LPL Financial LLC increased its stake in shares of IDEX by 36.5% in the 3rd quarter. LPL Financial LLC now owns 17,407 shares of the industrial products company’s stock valued at $3,621,000 after acquiring an additional 4,652 shares in the last quarter. Federated Hermes Inc. increased its stake in shares of IDEX by 49.0% in the 3rd quarter. Federated Hermes Inc. now owns 447 shares of the industrial products company’s stock valued at $93,000 after acquiring an additional 147 shares in the last quarter. O Shaughnessy Asset Management LLC increased its stake in shares of IDEX by 76.6% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 3,648 shares of the industrial products company’s stock valued at $759,000 after acquiring an additional 1,582 shares in the last quarter. Truist Financial Corp increased its stake in shares of IDEX by 10.3% in the 3rd quarter. Truist Financial Corp now owns 65,918 shares of the industrial products company’s stock valued at $13,712,000 after acquiring an additional 6,129 shares in the last quarter. Finally, AXQ Capital LP acquired a new stake in IDEX in the 3rd quarter valued at $366,000. Institutional investors own 97.96% of the company’s stock.

Analyst Ratings Changes

IEX has been the subject of several research reports. StockNews.com raised shares of IDEX from a “hold” rating to a “buy” rating in a research report on Saturday, May 18th. Royal Bank of Canada reissued an “outperform” rating and issued a $255.00 price target on shares of IDEX in a research report on Thursday, March 21st. Oppenheimer lifted their price target on shares of IDEX from $245.00 to $252.00 and gave the company an “outperform” rating in a research report on Thursday, April 18th. Citigroup lifted their price target on shares of IDEX from $254.00 to $277.00 and gave the company a “buy” rating in a research report on Monday, April 8th. Finally, Robert W. Baird cut their price objective on shares of IDEX from $260.00 to $256.00 and set an “outperform” rating on the stock in a report on Thursday, April 25th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, IDEX presently has a consensus rating of “Moderate Buy” and a consensus target price of $250.71.

IDEX Stock Performance

NYSE IEX opened at $196.41 on Wednesday. The firm has a market cap of $14.87 billion, a price-to-earnings ratio of 25.84, a PEG ratio of 2.02 and a beta of 0.96. The company has a fifty day moving average price of $211.78 and a 200-day moving average price of $221.06. The company has a debt-to-equity ratio of 0.37, a current ratio of 3.37 and a quick ratio of 2.45. IDEX Co. has a 1 year low of $183.76 and a 1 year high of $246.36.

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

IDEX Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Friday, July 12th will be issued a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a yield of 1.41%. The ex-dividend date of this dividend is Friday, July 12th. IDEX’s dividend payout ratio (DPR) is presently 36.32%.

IDEX 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.