Sentry Investment Management LLC Sells 67 Shares of IDEX Co. (NYSE:IEX)

Sentry Investment Management LLC trimmed its position in IDEX Co. (NYSE:IEX) by 17.0% during the second quarter, HoldingsChannel.com reports. The fund owned 327 shares of the industrial products company’s stock after selling 67 shares during the quarter. Sentry Investment Management LLC’s holdings in IDEX were worth $66,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in IEX. Headlands Technologies LLC bought a new position in shares of IDEX in the 2nd quarter valued at $222,000. Coldstream Capital Management Inc. boosted its stake in IDEX by 2.9% in the second quarter. Coldstream Capital Management Inc. now owns 11,512 shares of the industrial products company’s stock valued at $2,316,000 after buying an additional 321 shares in the last quarter. Choreo LLC grew its position in IDEX by 20.5% in the second quarter. Choreo LLC now owns 3,318 shares of the industrial products company’s stock valued at $649,000 after acquiring an additional 564 shares during the last quarter. Prudential PLC raised its stake in IDEX by 9.9% during the second quarter. Prudential PLC now owns 43,969 shares of the industrial products company’s stock worth $8,847,000 after acquiring an additional 3,959 shares in the last quarter. Finally, Quest Partners LLC lifted its holdings in shares of IDEX by 31,610.7% in the second quarter. Quest Partners LLC now owns 17,758 shares of the industrial products company’s stock worth $3,573,000 after acquiring an additional 17,702 shares during the last quarter. 97.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. DA Davidson lowered their price objective on shares of IDEX from $220.00 to $210.00 and set a “neutral” rating for the company in a research report on Monday, August 5th. TD Cowen dropped their price target on IDEX from $240.00 to $230.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Robert W. Baird cut their price objective on IDEX from $256.00 to $241.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. Royal Bank of Canada lowered their target price on IDEX from $250.00 to $236.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. Finally, Argus lowered IDEX from a “buy” rating to a “hold” rating in a research note on Wednesday, August 14th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, IDEX currently has a consensus rating of “Moderate Buy” and an average price target of $233.50.

IDEX Price Performance

Shares of IEX opened at $199.78 on Friday. The business has a 50-day moving average of $200.32 and a 200-day moving average of $214.86. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.41 and a quick ratio of 2.52. The company has a market capitalization of $15.12 billion, a price-to-earnings ratio of 26.29, a price-to-earnings-growth ratio of 2.09 and a beta of 0.95. IDEX Co. has a 1 year low of $183.76 and a 1 year high of $246.36.

IDEX (NYSE:IEX) last released its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $2.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.04 by $0.02. IDEX had a net margin of 18.19% and a return on equity of 16.87%. The firm had revenue of $807.20 million during the quarter, compared to analyst estimates of $828.15 million. During the same quarter last year, the business earned $2.18 EPS. The company’s revenue was down 4.6% compared to the same quarter last year. As a group, equities research analysts anticipate that IDEX Co. will post 7.88 earnings per share for the current year.

IDEX Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, July 26th. Shareholders of record on Friday, July 12th were issued a dividend of $0.69 per share. The ex-dividend date of this dividend was Friday, July 12th. This represents a $2.76 dividend on an annualized basis and a yield of 1.38%. IDEX’s payout ratio is currently 36.32%.

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.