IDEX Corporation $IEX Shares Newly Purchased by Soltis Investment Advisors LLC

Soltis Investment Advisors LLC bought a new position in shares of IDEX Corporation (NYSE:IEX) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 7,479 shares of the industrial products company’s stock, valued at approximately $1,705,000.

Several other large investors have also recently bought and sold shares of IEX. Burkett Financial Services LLC acquired a new position in shares of IDEX during the 3rd quarter worth approximately $27,000. Optiver Holding B.V. acquired a new stake in shares of IDEX in the 1st quarter valued at approximately $27,000. Quantbot Technologies LP acquired a new stake in shares of IDEX in the 2nd quarter valued at approximately $33,000. Elevation Wealth Partners LLC grew its stake in shares of IDEX by 42.7% in the third quarter. Elevation Wealth Partners LLC now owns 147 shares of the industrial products company’s stock valued at $34,000 after buying an additional 44 shares in the last quarter. Finally, Laurel Wealth Advisors LLC acquired a new position in IDEX during the third quarter worth $34,000. 97.96% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at IDEX

In other news, CAO Lisa Anderson sold 385 shares of the stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $238.59, for a total value of $91,857.15. Following the transaction, the chief accounting officer directly owned 4,327 shares of the company’s stock, valued at $1,032,378.93. This represents a 8.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.50% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms have issued reports on IEX. TD Cowen upped their price target on shares of IDEX from $260.00 to $275.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Stifel Nicolaus lifted their price objective on shares of IDEX from $267.00 to $273.00 and gave the company a “buy” rating in a research report on Thursday. Citigroup lifted their price objective on shares of IDEX from $269.00 to $272.00 and gave the company a “buy” rating in a research report on Thursday. DA Davidson set a $245.00 price objective on shares of IDEX in a research note on Thursday. Finally, Royal Bank Of Canada dropped their target price on shares of IDEX from $285.00 to $283.00 and set an “outperform” rating on the stock in a report on Thursday. Nine analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $263.64.

IDEX Stock Performance

Shares of NYSE IEX opened at $233.73 on Friday. The company has a current ratio of 2.78, a quick ratio of 2.15 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $17.17 billion, a P/E ratio of 32.46, a P/E/G ratio of 2.68 and a beta of 0.97. IDEX Corporation has a 12 month low of $160.60 and a 12 month high of $243.80. The stock has a 50 day moving average of $230.11 and a 200-day moving average of $215.96.

IDEX (NYSE:IEX) last posted its quarterly earnings results on Wednesday, October 28th. The industrial products company reported $2.33 earnings per share for the quarter, beating analysts’ consensus estimates of $2.24 by $0.09. IDEX had a return on equity of 16.18% and a net margin of 14.65%. The business had revenue of $951.70 million for the quarter, compared to analysts’ expectations of $934.36 million. During the same quarter in the prior year, the business earned $2.03 EPS. The firm’s revenue for the quarter was up 8.3% on a year-over-year basis. As a group, equities research analysts predict that IDEX Corporation will post 8.94 EPS for the current year.

IDEX Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 16th. Shareholders of record on Friday, October 2nd were issued a $0.73 dividend. This represents a $2.92 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Friday, October 2nd. IDEX’s payout ratio is currently 40.56%.

IDEX Company Profile

IDEX Corporation is an industrial manufacturing company headquartered in Lake Forest, Illinois. The company designs and produces engineered products and technologies used to move, control, measure and apply fluids, as well as equipment used in fire and safety applications.

IDEX operates through businesses serving fluid and metering technologies, health and science technologies, and fire and safety markets. Its products include pumps, valves, flow meters, compressors, dispensing equipment, precision fluidics components and systems, fire pumps, rescue tools and other specialized equipment.

The company serves a broad range of industries, including healthcare, life sciences, water and wastewater, chemical processing, energy, food and beverage, agriculture, industrial manufacturing and municipal fire protection.