IDEX Co. (NYSE:IEX) Shares Sold by Geneva Capital Management LLC

Geneva Capital Management LLC decreased its holdings in IDEX Co. (NYSE:IEX) by 3.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 121,388 shares of the industrial products company’s stock after selling 4,316 shares during the quarter. Geneva Capital Management LLC’s holdings in IDEX were worth $26,355,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Nordea Investment Management AB grew its stake in shares of IDEX by 1,196.4% in the fourth quarter. Nordea Investment Management AB now owns 135,825 shares of the industrial products company’s stock worth $29,598,000 after acquiring an additional 125,348 shares in the last quarter. Impax Asset Management Group plc raised its position in IDEX by 4.0% in the 4th quarter. Impax Asset Management Group plc now owns 2,190,741 shares of the industrial products company’s stock valued at $475,632,000 after purchasing an additional 84,502 shares in the last quarter. Lincoln National Corp boosted its stake in shares of IDEX by 7.1% in the 3rd quarter. Lincoln National Corp now owns 1,564 shares of the industrial products company’s stock valued at $325,000 after buying an additional 104 shares during the period. Deutsche Bank AG increased its stake in shares of IDEX by 13.3% during the third quarter. Deutsche Bank AG now owns 244,610 shares of the industrial products company’s stock worth $50,884,000 after buying an additional 28,661 shares during the period. Finally, Raymond James & Associates raised its holdings in IDEX by 11.2% in the fourth quarter. Raymond James & Associates now owns 76,465 shares of the industrial products company’s stock valued at $16,601,000 after acquiring an additional 7,684 shares in the last quarter. Institutional investors and hedge funds own 97.96% of the company’s stock.

IDEX Stock Performance

NYSE IEX traded up $0.67 on Thursday, reaching $222.74. The stock had a trading volume of 669,046 shares, compared to its average volume of 384,087. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.45 and a current ratio of 3.37. The stock has a market cap of $16.86 billion, a P/E ratio of 29.22, a price-to-earnings-growth ratio of 2.21 and a beta of 0.99. The business’s 50-day moving average price is $234.36 and its 200 day moving average price is $217.91. IDEX Co. has a 12-month low of $183.76 and a 12-month high of $246.36.

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

IDEX Increases Dividend

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

Analysts Set New Price Targets

A number of brokerages have commented on IEX. StockNews.com downgraded shares of IDEX from a “buy” rating to a “hold” rating in a research report on Thursday, May 2nd. Robert W. Baird cut their price target 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 increased their price objective on IDEX from $254.00 to $277.00 and gave the company a “buy” rating in a report on Monday, April 8th. Oppenheimer boosted their target price on IDEX from $245.00 to $252.00 and gave the stock an “outperform” rating in a research note on Thursday, April 18th. Finally, Stifel Nicolaus upgraded shares of IDEX from a “hold” rating to a “buy” rating and increased their price target for the company from $215.00 to $265.00 in a research note on Thursday, February 8th. Two 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 stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $250.71.

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.