Geneva Capital Management LLC Sells 4,316 Shares of IDEX Co. (NYSE:IEX)

Geneva Capital Management LLC cut its stake in IDEX Co. (NYSE:IEX) by 3.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 121,388 shares of the industrial products company’s stock after selling 4,316 shares during the quarter. Geneva Capital Management LLC owned 0.16% of IDEX worth $26,355,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of IEX. Planned Solutions Inc. bought a new position in shares of IDEX in the fourth quarter valued at approximately $33,000. EdgeRock Capital LLC bought a new stake in shares of IDEX during the 4th quarter worth $48,000. Headlands Technologies LLC bought a new position in IDEX during the fourth quarter valued at about $52,000. Compagnie Lombard Odier SCmA purchased a new stake in IDEX during the fourth quarter worth about $54,000. Finally, Cary Street Partners Investment Advisory LLC boosted its stake in IDEX by 30.9% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 339 shares of the industrial products company’s stock valued at $71,000 after acquiring an additional 80 shares during the last quarter. Institutional investors own 97.96% of the company’s stock.

Analysts Set New Price Targets

IEX has been the subject of a number of research reports. Oppenheimer increased their target price on shares of IDEX from $245.00 to $252.00 and gave the stock an “outperform” rating in a research report on Thursday, April 18th. StockNews.com downgraded IDEX from a “buy” rating to a “hold” rating in a research report on Thursday, May 2nd. Robert W. Baird decreased their price objective on IDEX from $260.00 to $256.00 and set an “outperform” rating on the stock in a research note on Thursday, April 25th. Citigroup boosted their price target on shares of IDEX from $254.00 to $277.00 and gave the company a “buy” rating in a research report on Monday, April 8th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $255.00 price objective on shares of IDEX in a research note on Thursday, March 21st. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $250.71.

IDEX Trading Up 0.3 %

Shares of NYSE:IEX traded up $0.67 during midday trading on Thursday, hitting $222.74. 669,046 shares of the stock traded hands, compared to its average volume of 384,087. The business’s 50 day moving average is $234.36 and its two-hundred day moving average is $217.91. The stock has a market capitalization of $16.86 billion, a PE ratio of 29.22, a P/E/G ratio of 2.21 and a beta of 0.99. The company has a quick ratio of 2.45, a current ratio of 3.37 and a debt-to-equity ratio of 0.37. IDEX Co. has a one year low of $183.76 and a one year high of $246.36.

IDEX (NYSE:IEX) last posted its earnings results on Tuesday, April 23rd. The industrial products company reported $1.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.76 by $0.12. The firm had revenue of $801.00 million for the quarter, compared to analysts’ expectations of $807.52 million. IDEX had a return on equity of 17.60% and a net margin of 17.89%. The business’s revenue was down 5.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.09 earnings per share. As a group, research analysts forecast that IDEX Co. will post 8.33 earnings per share for the current year.

IDEX Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be issued a $0.69 dividend. The ex-dividend date is Thursday, May 16th. This is a positive change from IDEX’s previous quarterly dividend of $0.64. This represents a $2.76 annualized dividend and a yield of 1.24%. IDEX’s dividend payout ratio (DPR) is 33.68%.

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.