217 Shares in IDEX Co. (NYSE:IEX) Acquired by EdgeRock Capital LLC

EdgeRock Capital LLC bought a new stake in shares of IDEX Co. (NYSE:IEX) in the 4th quarter, HoldingsChannel reports. The firm bought 217 shares of the industrial products company’s stock, valued at approximately $48,000.

A number of other institutional investors have also recently made changes to their positions in IEX. Planned Solutions Inc. purchased a new position in shares of IDEX during the fourth quarter worth approximately $33,000. Headlands Technologies LLC purchased a new position in IDEX in the 4th quarter worth $52,000. Compagnie Lombard Odier SCmA bought a new stake in IDEX in the fourth quarter worth $54,000. Cary Street Partners Investment Advisory LLC lifted 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 worth $71,000 after purchasing an additional 80 shares during the last quarter. Finally, Desjardins Global Asset Management Inc. boosted its position in IDEX by 25.6% during the fourth quarter. Desjardins Global Asset Management Inc. now owns 388 shares of the industrial products company’s stock valued at $84,000 after buying an additional 79 shares during the period. Institutional investors own 97.96% of the company’s stock.

IDEX Trading Up 0.1 %

Shares of IDEX stock traded up $0.32 during midday trading on Wednesday, reaching $222.07. 338,154 shares of the company’s stock traded hands, compared to its average volume of 380,762. The company has a market cap of $16.81 billion, a PE ratio of 29.17, a price-to-earnings-growth ratio of 2.21 and a beta of 0.99. The stock has a 50 day moving average of $234.66 and a 200-day moving average of $217.88. IDEX Co. has a 12 month low of $183.76 and a 12 month high of $246.36. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.45 and a current ratio of 3.37.

IDEX (NYSE:IEX) last announced its earnings results on Tuesday, April 23rd. The industrial products company reported $1.88 earnings per share for the quarter, beating 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 for the quarter, compared to analyst estimates of $807.52 million. During the same quarter in the previous year, the firm posted $2.09 EPS. The company’s revenue for the quarter was down 5.3% compared to the same quarter last year. As a group, equities analysts expect that IDEX Co. will post 8.33 EPS for the current fiscal year.

IDEX Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be paid a $0.69 dividend. This represents a $2.76 annualized dividend and a yield of 1.24%. This is a boost from IDEX’s previous quarterly dividend of $0.64. The ex-dividend date of this dividend is Thursday, May 16th. IDEX’s dividend payout ratio is presently 33.68%.

Wall Street Analyst Weigh In

IEX has been the topic of several analyst reports. 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 report on Thursday, April 25th. Oppenheimer lifted their price target on IDEX from $245.00 to $252.00 and gave the stock an “outperform” rating in a research note on Thursday, April 18th. 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. Stifel Nicolaus raised shares of IDEX from a “hold” rating to a “buy” rating and lifted their target price for the stock from $215.00 to $265.00 in a research note on Thursday, February 8th. Finally, StockNews.com cut shares of IDEX from a “buy” rating to a “hold” rating in a research report on Thursday, May 2nd. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target 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.