JustInvest LLC Sells 2,658 Shares of IDEX Co. (NYSE:IEX)

JustInvest LLC cut its stake in IDEX Co. (NYSE:IEX) by 59.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,845 shares of the industrial products company’s stock after selling 2,658 shares during the period. JustInvest LLC’s holdings in IDEX were worth $382,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Signaturefd LLC grew its holdings in shares of IDEX by 15.0% in the third quarter. Signaturefd LLC now owns 345 shares of the industrial products company’s stock worth $71,000 after purchasing an additional 45 shares during the last quarter. Meeder Asset Management Inc. grew its holdings in shares of IDEX by 6.8% in the third quarter. Meeder Asset Management Inc. now owns 785 shares of the industrial products company’s stock worth $162,000 after purchasing an additional 50 shares during the last quarter. Kestra Advisory Services LLC grew its holdings in shares of IDEX by 4.3% in the third quarter. Kestra Advisory Services LLC now owns 1,226 shares of the industrial products company’s stock worth $254,000 after purchasing an additional 51 shares during the last quarter. Simmons Bank grew its holdings in shares of IDEX by 1.6% in the third quarter. Simmons Bank now owns 3,410 shares of the industrial products company’s stock worth $706,000 after purchasing an additional 55 shares during the last quarter. Finally, Berman Capital Advisors LLC grew its holdings in shares of IDEX by 46.1% in the second quarter. Berman Capital Advisors LLC now owns 187 shares of the industrial products company’s stock worth $41,000 after purchasing an additional 59 shares during the last quarter. Hedge funds and other institutional investors own 96.41% of the company’s stock.

In related news, Director William M. Cook sold 679 shares of the stock in a transaction that occurred on Monday, November 1st. The shares were sold at an average price of $223.03, for a total value of $151,437.37. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Daniel J. Salliotte sold 14,763 shares of the stock in a transaction that occurred on Tuesday, November 9th. The stock was sold at an average price of $235.90, for a total transaction of $3,482,591.70. The disclosure for this sale can be found here. Company insiders own 0.50% of the company’s stock.

Shares of IDEX stock opened at $220.31 on Friday. The firm has a market capitalization of $16.75 billion, a P/E ratio of 38.99, a PEG ratio of 2.67 and a beta of 1.06. The company has a quick ratio of 2.62, a current ratio of 3.38 and a debt-to-equity ratio of 0.44. The company has a 50 day moving average price of $232.37 and a 200 day moving average price of $224.82. IDEX Co. has a 52 week low of $185.23 and a 52 week high of $240.33.

IDEX (NYSE:IEX) last announced its quarterly earnings data on Monday, October 25th. The industrial products company reported $1.63 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.59 by $0.04. The firm had revenue of $712.02 million during the quarter, compared to analyst estimates of $697.44 million. IDEX had a net margin of 16.20% and a return on equity of 17.75%. IDEX’s revenue was up 22.5% on a year-over-year basis. During the same period last year, the firm posted $1.40 EPS. As a group, research analysts anticipate that IDEX Co. will post 6.34 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 28th. Investors of record on Friday, January 14th will be given a $0.54 dividend. This represents a $2.16 annualized dividend and a dividend yield of 0.98%. The ex-dividend date is Thursday, January 13th. IDEX’s payout ratio is currently 38.23%.

A number of research analysts have recently commented on the stock. Royal Bank of Canada upped their price target on shares of IDEX from $252.00 to $254.00 and gave the stock an “outperform” rating in a report on Thursday, October 28th. Robert W. Baird upped their price objective on shares of IDEX from $253.00 to $256.00 and gave the stock an “outperform” rating in a research note on Thursday, October 7th. Sanford C. Bernstein started coverage on shares of IDEX in a research note on Monday, January 10th. They issued a “market perform” rating and a $230.00 price objective for the company. Loop Capital started coverage on shares of IDEX in a research note on Monday, November 22nd. They issued a “hold” rating and a $234.00 price objective for the company. Finally, DA Davidson upped their price objective on shares of IDEX from $210.00 to $220.00 and gave the stock a “neutral” rating in a research note on Thursday, October 28th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, IDEX currently has an average rating of “Buy” and a consensus target price of $239.73.

IDEX Profile

IDEX Corp. engages in the provision of engineering solutions. It operates through the following segments: Fluid and Metering Technologies; Health and Science Technologies and Fire and Safety or Diversified Products. The Fluid and Metering Technologies segment involves in the design, production, and distribution of displacement pumps, valves, flow meters, injectors, and fluid-handling pump modules and systems.

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Institutional Ownership by Quarter for IDEX (NYSE:IEX)

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