FORA Capital LLC Sells 6,384 Shares of IDEX Co. (NYSE:IEX)

FORA Capital LLC lowered its position in IDEX Co. (NYSE:IEX) by 64.9% during the third quarter, Holdings Channel reports. The firm owned 3,453 shares of the industrial products company’s stock after selling 6,384 shares during the period. FORA Capital LLC’s holdings in IDEX were worth $741,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the company. Catalyst Capital Advisors LLC grew its stake in shares of IDEX by 73.8% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 139 shares of the industrial products company’s stock valued at $30,000 after buying an additional 59 shares during the period. Assetmark Inc. acquired a new position in shares of IDEX during the third quarter worth approximately $39,000. EdgeRock Capital LLC acquired a new stake in IDEX in the 2nd quarter valued at $41,000. Whittier Trust Co. increased its stake in IDEX by 38.4% during the 2nd quarter. Whittier Trust Co. now owns 209 shares of the industrial products company’s stock valued at $42,000 after purchasing an additional 58 shares in the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt raised its holdings in IDEX by 100.0% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 200 shares of the industrial products company’s stock worth $43,000 after buying an additional 100 shares during the last quarter. 97.96% of the stock is currently owned by institutional investors and hedge funds.

IDEX Trading Down 0.4 %

NYSE:IEX opened at $231.10 on Friday. IDEX Co. has a 1 year low of $189.51 and a 1 year high of $246.36. The stock’s fifty day moving average price is $216.81 and its two-hundred day moving average price is $208.07. 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 company has a market cap of $17.50 billion, a P/E ratio of 35.77, a P/E/G ratio of 2.50 and a beta of 0.96.

IDEX (NYSE:IEX) last released its quarterly earnings data 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. The company had revenue of $798.20 million during the quarter, compared to analyst estimates of $793.05 million. IDEX had a net margin of 15.35% and a return on equity of 15.92%. IDEX’s revenue was up .6% compared to the same quarter last year. During the same period last year, the business earned $2.12 earnings per share. As a group, analysts expect that IDEX Co. will post 7.88 EPS for the current year.

IDEX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 17th will be issued a $0.69 dividend. The ex-dividend date of this dividend is Friday, January 17th. This represents a $2.76 annualized dividend and a dividend yield of 1.19%. IDEX’s payout ratio is currently 42.72%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on IEX. Robert W. Baird reduced their price objective on shares of IDEX from $245.00 to $241.00 and set an “outperform” rating for the company in a report on Thursday, October 31st. DA Davidson cut their price target on IDEX from $220.00 to $210.00 and set a “neutral” rating for the company in a research note on Monday, August 5th. Stifel Nicolaus increased their price objective on IDEX from $232.00 to $244.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Oppenheimer cut their target price on IDEX from $245.00 to $238.00 and set an “outperform” rating on the stock in a research report on Monday, August 5th. Finally, Royal Bank of Canada boosted their price target on shares of IDEX from $236.00 to $248.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $241.14.

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.