Stifel Financial Corp Sells 68 Shares of IDEX Co. (NYSE:IEX)

Stifel Financial Corp decreased its holdings in IDEX Co. (NYSE:IEX) by 1.3% in the third quarter, Holdings Channel reports. The firm owned 4,999 shares of the industrial products company’s stock after selling 68 shares during the quarter. Stifel Financial Corp’s holdings in IDEX were worth $1,073,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Champlain Investment Partners LLC raised its position in IDEX by 28.8% in the 3rd quarter. Champlain Investment Partners LLC now owns 1,223,676 shares of the industrial products company’s stock worth $262,479,000 after buying an additional 273,460 shares during the last quarter. Van ECK Associates Corp grew its position in IDEX by 9,424.6% in the 3rd quarter. Van ECK Associates Corp now owns 1,032,277 shares of the industrial products company’s stock worth $211,473,000 after purchasing an additional 1,021,439 shares during the period. King Luther Capital Management Corp raised its stake in IDEX by 16.2% during the 3rd quarter. King Luther Capital Management Corp now owns 742,724 shares of the industrial products company’s stock valued at $159,314,000 after buying an additional 103,432 shares during the last quarter. Fisher Asset Management LLC lifted its holdings in IDEX by 7.6% in the third quarter. Fisher Asset Management LLC now owns 659,006 shares of the industrial products company’s stock valued at $141,357,000 after acquiring an additional 46,770 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of IDEX by 0.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 630,443 shares of the industrial products company’s stock worth $135,230,000 after buying an additional 4,629 shares during the last quarter. Hedge funds and other institutional investors own 97.96% of the company’s stock.

IDEX Trading Down 0.8 %

IDEX stock opened at $210.76 on Tuesday. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.97 and a quick ratio of 2.11. The firm’s 50 day moving average price is $221.61 and its 200-day moving average price is $209.19. IDEX Co. has a 1 year low of $189.51 and a 1 year high of $246.36. The stock has a market cap of $15.96 billion, a P/E ratio of 32.63, a PEG ratio of 2.41 and a beta of 0.96.

IDEX (NYSE:IEX) last announced its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $1.90 EPS for the quarter, topping the consensus estimate of $1.89 by $0.01. The business had revenue of $798.20 million for the quarter, compared to analysts’ expectations of $793.05 million. IDEX had a net margin of 15.35% and a return on equity of 15.92%. The business’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.12 EPS. On average, equities analysts predict that IDEX Co. will post 7.89 earnings per share for the current fiscal year.

IDEX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 17th will be paid a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date of this dividend is Friday, January 17th. IDEX’s payout ratio is 42.72%.

Analysts Set New Price Targets

IEX has been the subject of a number of recent research reports. Robert W. Baird cut their price objective on shares of IDEX from $245.00 to $241.00 and set an “outperform” rating for the company in a research report on Thursday, October 31st. Citigroup raised their price objective on IDEX from $251.00 to $269.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Stifel Nicolaus boosted their price objective on IDEX from $244.00 to $256.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Finally, Royal Bank of Canada raised their target price on shares of IDEX from $248.00 to $258.00 and gave the stock an “outperform” rating in a research note on Friday, December 6th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $243.14.

About IDEX

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.