RMB Capital Management LLC trimmed its holdings in shares of IDEX Co. (NYSE:IEX – Get Rating) by 35.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 15,581 shares of the industrial products company's stock after selling 8,413 shares during the period. RMB Capital Management LLC's holdings in IDEX were worth $2,830,000 as of its most recent SEC filing.
A number of other hedge funds have also recently made changes to their positions in IEX. Worldquant Millennium Advisors LLC boosted its holdings in IDEX by 89.1% in the second quarter. Worldquant Millennium Advisors LLC now owns 24,476 shares of the industrial products company's stock worth $4,446,000 after acquiring an additional 11,535 shares in the last quarter. Wahed Invest LLC purchased a new stake in IDEX during the 2nd quarter valued at about $147,000. Prudential Financial Inc. increased its stake in IDEX by 2.3% during the 2nd quarter. Prudential Financial Inc. now owns 73,071 shares of the industrial products company's stock valued at $13,246,000 after purchasing an additional 1,611 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its holdings in IDEX by 22.8% in the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 40,021 shares of the industrial products company's stock worth $7,268,000 after buying an additional 7,436 shares during the last quarter. Finally, Occudo Quantitative Strategies LP lifted its stake in shares of IDEX by 1.5% in the second quarter. Occudo Quantitative Strategies LP now owns 8,008 shares of the industrial products company's stock worth $1,454,000 after buying an additional 118 shares in the last quarter. 96.52% of the stock is owned by institutional investors.
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Analyst Ratings Changes
Several brokerages recently weighed in on IEX. Wells Fargo & Company raised their price target on shares of IDEX from $260.00 to $265.00 and gave the company an "overweight" rating in a research report on Thursday, October 27th. Morgan Stanley upped their price target on IDEX from $225.00 to $235.00 and gave the company an "overweight" rating in a report on Thursday, October 27th. Cowen lifted their price objective on IDEX to $240.00 in a report on Tuesday, November 1st. Sanford C. Bernstein initiated coverage on shares of IDEX in a research note on Tuesday, August 16th. They set a "market perform" rating and a $220.00 target price on the stock. Finally, Mizuho boosted their price objective on shares of IDEX from $205.00 to $208.00 and gave the company a "neutral" rating in a report on Thursday, October 27th. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $228.75.
IDEX Price Performance
Shares of NYSE:IEX opened at $235.21 on Friday. The company has a market capitalization of $17.74 billion, a P/E ratio of 31.15, a P/E/G ratio of 2.41 and a beta of 1.01. IDEX Co. has a 1-year low of $172.18 and a 1-year high of $243.51. The firm's 50 day simple moving average is $221.51 and its two-hundred day simple moving average is $205.45. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.23 and a quick ratio of 2.33.
IDEX (NYSE:IEX – Get Rating) last announced its quarterly earnings results on Tuesday, October 25th. The industrial products company reported $2.14 EPS for the quarter, beating analysts' consensus estimates of $2.01 by $0.13. IDEX had a return on equity of 20.68% and a net margin of 18.66%. The company had revenue of $824.00 million during the quarter, compared to analyst estimates of $779.81 million. During the same period in the prior year, the company earned $1.63 earnings per share. The firm's revenue was up 15.7% on a year-over-year basis. Research analysts expect that IDEX Co. will post 8.08 EPS for the current fiscal year.
IDEX Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, January 27th. Investors of record on Friday, January 13th will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date of this dividend is Thursday, January 12th. IDEX's payout ratio is 31.79%.
Insider Buying and Selling at IDEX
In other news, Director Livingston Satterthwaite sold 3,075 shares of the business's stock in a transaction dated Wednesday, November 2nd. The shares were sold at an average price of $222.69, for a total value of $684,771.75. Following the sale, the director now directly owns 13,232 shares in the company, valued at approximately $2,946,634.08. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Livingston Satterthwaite sold 3,075 shares of the company's stock in a transaction dated Wednesday, November 2nd. The shares were sold at an average price of $222.69, for a total transaction of $684,771.75. Following the transaction, the director now directly owns 13,232 shares in the company, valued at approximately $2,946,634.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO William K. Grogan sold 843 shares of the firm's stock in a transaction dated Friday, October 28th. The stock was sold at an average price of $50.45, for a total transaction of $42,529.35. Following the completion of the sale, the chief financial officer now directly owns 127,689 shares of the company's stock, valued at approximately $6,441,910.05. The disclosure for this sale can be found here. Insiders sold 19,766 shares of company stock worth $2,097,044 over the last 90 days. 0.50% of the stock is owned by insiders.
About IDEX
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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, small volume provers, flow meters, injectors, and other fluid-handling pump modules and systems, as well as offers flow monitoring and other services for the food, chemical, general industrial, water and wastewater, agricultural, and energy industries.
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