Janney Montgomery Scott LLC Sells 766 Shares of IDEX Co. (NYSE:IEX)

Janney Montgomery Scott LLC cut its position in IDEX Co. (NYSE:IEX) by 31.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,672 shares of the industrial products company’s stock after selling 766 shares during the quarter. Janney Montgomery Scott LLC’s holdings in IDEX were worth $350,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Catalyst Capital Advisors LLC lifted its position in 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 last quarter. Assetmark Inc. purchased a new stake in shares of IDEX in the 3rd quarter worth about $39,000. Livforsakringsbolaget Skandia Omsesidigt lifted its stake in shares of IDEX by 100.0% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 200 shares of the industrial products company’s stock valued at $43,000 after purchasing an additional 100 shares during the period. Brooklyn Investment Group bought a new position in shares of IDEX in the 3rd quarter worth about $86,000. Finally, Fred Alger Management LLC purchased a new position in shares of IDEX during the third quarter valued at approximately $89,000. Institutional investors own 97.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on IEX. Citigroup lowered their price objective on shares of IDEX from $269.00 to $267.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Robert W. Baird lowered their target price on IDEX from $245.00 to $241.00 and set an “outperform” rating for the company in a report on Thursday, October 31st. Stifel Nicolaus increased their price objective on shares of IDEX from $244.00 to $256.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Finally, Royal Bank of Canada decreased their price objective on shares of IDEX from $256.00 to $245.00 and set an “outperform” rating on the stock in a report on Thursday, February 6th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $241.00.

IDEX Stock Performance

NYSE IEX opened at $196.45 on Tuesday. IDEX Co. has a fifty-two week low of $189.51 and a fifty-two week high of $246.36. The business has a fifty day moving average of $215.57 and a 200-day moving average of $211.95. The stock has a market cap of $14.88 billion, a price-to-earnings ratio of 29.54, a price-to-earnings-growth ratio of 1.98 and a beta of 0.97. The company has a quick ratio of 2.11, a current ratio of 2.53 and a debt-to-equity ratio of 0.49.

IDEX (NYSE:IEX) last announced its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $2.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.03 by $0.01. IDEX had a return on equity of 16.08% and a net margin of 15.45%. As a group, analysts predict that IDEX Co. will post 8.37 earnings per share for the current fiscal year.

IDEX Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 17th were issued a dividend of $0.69 per share. The ex-dividend date was Friday, January 17th. This represents a $2.76 annualized dividend and a yield of 1.40%. IDEX’s payout ratio is 41.50%.

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.