iA Global Asset Management Inc. Sells 4,999 Shares of IDEX Co. (NYSE:IEX)

iA Global Asset Management Inc. cut its holdings in shares of IDEX Co. (NYSE:IEX) by 76.3% during the 3rd quarter, Holdings Channel reports. The firm owned 1,556 shares of the industrial products company’s stock after selling 4,999 shares during the period. iA Global Asset Management Inc.’s holdings in IDEX were worth $334,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in IEX. Wellington Management Group LLP raised its holdings in IDEX by 108.4% in the 3rd quarter. Wellington Management Group LLP now owns 2,830,929 shares of the industrial products company’s stock valued at $607,234,000 after acquiring an additional 1,472,456 shares in the last quarter. Worldquant Millennium Advisors LLC increased its position in shares of IDEX by 844.4% in the third quarter. Worldquant Millennium Advisors LLC now owns 62,756 shares of the industrial products company’s stock worth $13,461,000 after purchasing an additional 56,111 shares during the period. Wahed Invest LLC raised its stake in IDEX by 10.4% in the third quarter. Wahed Invest LLC now owns 1,838 shares of the industrial products company’s stock valued at $394,000 after purchasing an additional 173 shares in the last quarter. State Street Corp lifted its position in IDEX by 0.5% during the third quarter. State Street Corp now owns 3,017,976 shares of the industrial products company’s stock worth $647,356,000 after purchasing an additional 15,077 shares during the period. Finally, Quantinno Capital Management LP grew its stake in IDEX by 34.0% during the third quarter. Quantinno Capital Management LP now owns 3,596 shares of the industrial products company’s stock worth $771,000 after buying an additional 913 shares in the last quarter. 97.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on IEX. Robert W. Baird cut their price target 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. Royal Bank of Canada upped their target price on IDEX from $248.00 to $258.00 and gave the stock an “outperform” rating in a research note on Friday, December 6th. Citigroup lifted their price target on IDEX from $251.00 to $269.00 and gave the company a “buy” rating in a research note on Monday. Argus downgraded IDEX from a “buy” rating to a “hold” rating in a research report on Wednesday, August 14th. Finally, Stifel Nicolaus lifted their target price on IDEX from $232.00 to $244.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, IDEX presently has a consensus rating of “Moderate Buy” and an average target price of $241.43.

IDEX Stock Performance

Shares of IEX stock opened at $227.93 on Wednesday. The firm has a market capitalization of $17.26 billion, a price-to-earnings ratio of 35.28, a PEG ratio of 2.43 and a beta of 0.96. The company has a current ratio of 2.97, a quick ratio of 2.11 and a debt-to-equity ratio of 0.54. The business’s 50-day moving average price is $220.04 and its 200-day moving average price is $208.57. IDEX Co. has a 12 month low of $189.51 and a 12 month high of $246.36.

IDEX (NYSE:IEX) last posted its earnings results on Tuesday, October 29th. The industrial products company reported $1.90 EPS for the quarter, topping the consensus estimate of $1.89 by $0.01. The business had revenue of $798.20 million for the quarter, compared to the consensus estimate of $793.05 million. IDEX had a net margin of 15.35% and a return on equity of 15.92%. The firm’s revenue was up .6% compared to the same quarter last year. During the same period last year, the company earned $2.12 EPS. Equities research analysts forecast that IDEX Co. will post 7.89 EPS for the current year.

IDEX Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 17th will be issued a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a yield of 1.21%. The ex-dividend date of this dividend is Friday, January 17th. IDEX’s payout ratio is presently 42.72%.

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.