Hartford Investment Management Co. Has $1.01 Million Stake in IDEX Co. (NYSE:IEX)

Hartford Investment Management Co. decreased its position in shares of IDEX Co. (NYSE:IEX) by 3.2% during the 3rd quarter, HoldingsChannel reports. The fund owned 4,691 shares of the industrial products company’s stock after selling 154 shares during the period. Hartford Investment Management Co.’s holdings in IDEX were worth $1,006,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. EdgeRock Capital LLC acquired a new position in IDEX during the 2nd quarter worth about $41,000. Whittier Trust Co. lifted its holdings in IDEX by 38.4% during the 2nd quarter. Whittier Trust Co. now owns 209 shares of the industrial products company’s stock worth $42,000 after buying an additional 58 shares during the period. Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in IDEX by 100.0% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 200 shares of the industrial products company’s stock worth $43,000 after buying an additional 100 shares during the period. UMB Bank n.a. lifted its holdings in IDEX by 31.0% during the 2nd quarter. UMB Bank n.a. now owns 241 shares of the industrial products company’s stock worth $48,000 after buying an additional 57 shares during the period. Finally, Mascoma Wealth Management LLC acquired a new position in IDEX during the 2nd quarter worth about $51,000. Institutional investors and hedge funds own 97.96% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on IEX. StockNews.com downgraded IDEX from a “buy” rating to a “hold” rating in a report on Thursday, July 11th. Royal Bank of Canada cut their target price on IDEX from $250.00 to $236.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. TD Cowen dropped their price objective on IDEX from $240.00 to $230.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. DA Davidson cut their target price on IDEX from $220.00 to $210.00 and set a “neutral” rating on the stock in a research report on Monday, August 5th. Finally, Oppenheimer lowered their target price on IDEX from $245.00 to $238.00 and set an “outperform” rating for the company in a report on Monday, August 5th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, IDEX currently has a consensus rating of “Moderate Buy” and an average price target of $239.43.

IDEX Stock Down 0.3 %

Shares of NYSE IEX opened at $202.82 on Friday. The firm has a market cap of $15.35 billion, a PE ratio of 26.55, a P/E/G ratio of 2.20 and a beta of 0.95. IDEX Co. has a 12-month low of $183.76 and a 12-month high of $246.36. The company’s fifty day simple moving average is $205.96 and its 200 day simple moving average is $208.47. The company has a quick ratio of 2.52, a current ratio of 3.41 and a debt-to-equity ratio of 0.36.

IDEX (NYSE:IEX) last issued its 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. The business had revenue of $807.20 million for the quarter, compared to analyst estimates of $828.15 million. IDEX had a net margin of 18.19% and a return on equity of 16.87%. IDEX’s revenue was down 4.6% on a year-over-year basis. During the same period in the prior year, the firm earned $2.18 earnings per share. As a group, sell-side analysts forecast that IDEX Co. will post 7.87 earnings per share for the current fiscal year.

IDEX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, October 11th were paid a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date was Friday, October 11th. IDEX’s dividend payout ratio (DPR) is 36.13%.

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.