The Manufacturers Life Insurance Company Sells 193 Shares of IDEX Co. (NYSE:IEX)

The Manufacturers Life Insurance Company reduced its holdings in shares of IDEX Co. (NYSE:IEX) by 0.4% in the third quarter, according to its most recent filing with the SEC. The fund owned 45,364 shares of the industrial products company’s stock after selling 193 shares during the period. The Manufacturers Life Insurance Company owned about 0.06% of IDEX worth $9,731,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Catalyst Capital Advisors LLC boosted its stake in shares of IDEX by 73.8% during the third quarter. Catalyst Capital Advisors LLC now owns 139 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 59 shares during the period. Assetmark Inc. bought a new position in IDEX in the 3rd quarter worth about $39,000. Livforsakringsbolaget Skandia Omsesidigt increased its position in shares of IDEX by 100.0% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 200 shares of the industrial products company’s stock worth $43,000 after acquiring an additional 100 shares during the period. EdgeRock Capital LLC bought a new stake in shares of IDEX during the second quarter valued at approximately $41,000. Finally, Whittier Trust Co. boosted its holdings in shares of IDEX by 38.4% in the second quarter. Whittier Trust Co. now owns 209 shares of the industrial products company’s stock valued at $42,000 after purchasing an additional 58 shares during the period. Institutional investors own 97.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on IEX. Robert W. Baird decreased their target price on IDEX from $245.00 to $241.00 and set an “outperform” rating for the company in a research report on Thursday, October 31st. Argus lowered shares of IDEX from a “buy” rating to a “hold” rating in a research note on Wednesday, August 14th. Royal Bank of Canada increased their target price on shares of IDEX from $236.00 to $248.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. TD Cowen lowered their price target on shares of IDEX from $240.00 to $230.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Finally, Stifel Nicolaus lifted their price objective on shares of IDEX from $232.00 to $244.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $241.14.

IDEX Trading Down 0.6 %

NYSE:IEX opened at $230.52 on Wednesday. The stock has a market capitalization of $17.45 billion, a price-to-earnings ratio of 35.68, a PEG ratio of 2.45 and a beta of 0.96. IDEX Co. has a 52 week low of $189.51 and a 52 week high of $246.36. The company has a quick ratio of 2.11, a current ratio of 2.97 and a debt-to-equity ratio of 0.54. The firm has a 50 day moving average of $218.10 and a 200 day moving average of $208.10.

IDEX (NYSE:IEX) last posted its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $1.90 earnings per share for the quarter, topping analysts’ consensus estimates of $1.89 by $0.01. IDEX had a return on equity of 15.92% and a net margin of 15.35%. The firm had revenue of $798.20 million during the quarter, compared to analysts’ expectations of $793.05 million. During the same quarter last year, the firm earned $2.12 EPS. The business’s quarterly revenue was up .6% on a year-over-year basis. As a group, sell-side analysts anticipate that IDEX Co. will post 7.89 earnings per share for the current fiscal year.

IDEX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 17th will be issued a $0.69 dividend. This represents a $2.76 annualized dividend and a dividend yield of 1.20%. The ex-dividend date of this dividend is Friday, January 17th. IDEX’s dividend payout ratio (DPR) is currently 42.72%.

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.