IDEX Co. (NYSE:IEX) Shares Sold by Gabelli Funds LLC

Gabelli Funds LLC decreased its position in IDEX Co. (NYSE:IEX) by 2.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 218,800 shares of the industrial products company’s stock after selling 5,950 shares during the quarter. Gabelli Funds LLC owned 0.29% of IDEX worth $44,023,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Dimensional Fund Advisors LP boosted its stake in shares of IDEX by 6.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 369,268 shares of the industrial products company’s stock valued at $80,172,000 after buying an additional 20,785 shares during the last quarter. UBS Group AG boosted its stake in shares of IDEX by 177.3% during the 4th quarter. UBS Group AG now owns 57,255 shares of the industrial products company’s stock valued at $12,431,000 after buying an additional 36,606 shares during the last quarter. Corient Private Wealth LLC boosted its stake in shares of IDEX by 3.6% during the 4th quarter. Corient Private Wealth LLC now owns 68,187 shares of the industrial products company’s stock valued at $14,804,000 after buying an additional 2,399 shares during the last quarter. Quest Partners LLC purchased a new position in shares of IDEX during the 4th quarter valued at approximately $160,000. Finally, Franklin Resources Inc. boosted its stake in shares of IDEX by 6.8% during the 4th quarter. Franklin Resources Inc. now owns 197,319 shares of the industrial products company’s stock valued at $42,840,000 after buying an additional 12,600 shares during the last quarter. Institutional investors and hedge funds own 97.96% of the company’s stock.

Analyst Upgrades and Downgrades

IEX has been the subject of several research analyst reports. Stifel Nicolaus reduced their target price on IDEX from $265.00 to $236.00 and set a “buy” rating for the company in a research note on Thursday, July 18th. StockNews.com cut IDEX from a “buy” rating to a “hold” rating in a research note on Thursday, July 11th. Robert W. Baird reduced their price objective on IDEX from $256.00 to $241.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. DA Davidson reduced their price objective on IDEX from $220.00 to $210.00 and set a “neutral” rating on the stock in a research note on Monday, August 5th. Finally, Argus cut IDEX from a “buy” rating to a “hold” rating in a research note on Wednesday, August 14th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $233.50.

IDEX Price Performance

Shares of IEX opened at $208.73 on Friday. The firm has a market capitalization of $15.80 billion, a price-to-earnings ratio of 27.46, a price-to-earnings-growth ratio of 2.09 and a beta of 0.95. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.52 and a current ratio of 3.41. IDEX Co. has a one year low of $183.76 and a one year high of $246.36. The stock’s fifty day moving average is $201.03 and its 200-day moving average is $213.64.

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

IDEX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, October 11th will be issued a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date is Friday, October 11th. IDEX’s payout ratio is currently 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.