Wealth Enhancement Advisory Services LLC Has $1.04 Million Stock Position in IDEX Co. (NYSE:IEX)

Wealth Enhancement Advisory Services LLC lifted its stake in IDEX Co. (NYSE:IEX) by 119.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,864 shares of the industrial products company’s stock after acquiring an additional 2,646 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in IDEX were worth $1,043,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Price T Rowe Associates Inc. MD increased its position in shares of IDEX by 7.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 7,964,956 shares of the industrial products company’s stock valued at $1,943,609,000 after acquiring an additional 555,250 shares during the last quarter. Hsbc Holdings PLC increased its position in shares of IDEX by 75.6% in the second quarter. Hsbc Holdings PLC now owns 519,124 shares of the industrial products company’s stock valued at $104,179,000 after acquiring an additional 223,422 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of IDEX by 20.0% in the second quarter. Dimensional Fund Advisors LP now owns 470,672 shares of the industrial products company’s stock valued at $94,698,000 after acquiring an additional 78,551 shares during the last quarter. CCLA Investment Management increased its position in IDEX by 1.8% during the second quarter. CCLA Investment Management now owns 433,403 shares of the industrial products company’s stock worth $86,697,000 after buying an additional 7,615 shares during the last quarter. Finally, Ceredex Value Advisors LLC increased its position in IDEX by 25.8% during the second quarter. Ceredex Value Advisors LLC now owns 416,375 shares of the industrial products company’s stock worth $83,775,000 after buying an additional 85,434 shares during the last quarter. Institutional investors and hedge funds own 97.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on IEX. DA Davidson lowered their price target on IDEX from $220.00 to $210.00 and set a “neutral” rating on the stock in a research report on Monday, August 5th. Robert W. Baird decreased their target price on IDEX from $245.00 to $241.00 and set an “outperform” rating on the stock in a research report on Thursday, October 31st. Royal Bank of Canada boosted their price target on IDEX from $236.00 to $248.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Oppenheimer cut their price target on IDEX from $245.00 to $238.00 and set an “outperform” rating for the company 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. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $241.14.

IDEX Stock Up 2.6 %

Shares of IEX opened at $224.71 on Wednesday. IDEX Co. has a 52 week low of $189.33 and a 52 week high of $246.36. The stock has a market capitalization of $17.02 billion, a price-to-earnings ratio of 34.53, a PEG ratio of 2.29 and a beta of 0.96. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.11 and a current ratio of 2.97. The stock has a fifty day moving average of $207.36 and a 200-day moving average of $207.31.

IDEX (NYSE:IEX) last announced its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $1.90 EPS for the quarter, beating 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 company had revenue of $798.20 million during the quarter, compared to analysts’ expectations of $793.05 million. During the same period in the prior year, the company earned $2.12 EPS. IDEX’s revenue was up .6% compared to the same quarter last year. As a group, sell-side analysts anticipate that IDEX Co. will post 7.87 earnings per share for the current fiscal year.

IDEX Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Friday, October 11th were issued a $0.69 dividend. The ex-dividend date of this dividend was Friday, October 11th. This represents a $2.76 dividend on an annualized basis and a yield of 1.23%. IDEX’s payout ratio is 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.