NFJ Investment Group LLC Has $2.56 Million Holdings in IDEX Co. (NYSE:IEX)

by · The Cerbat Gem

NFJ Investment Group LLC decreased its holdings in shares of IDEX Co. (NYSE:IEX – Free Report) by 1.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,939 shares of the industrial products company’s stock after selling 174 shares during the quarter. NFJ Investment Group LLC’s holdings in IDEX were worth $2,561,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Catalyst Capital Advisors LLC increased its position in IDEX by 73.8% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 139 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 59 shares in the last quarter. Assetmark Inc. acquired a new position in shares of IDEX during the third quarter worth $39,000. EdgeRock Capital LLC bought a new position in shares of IDEX in the 2nd quarter valued at $41,000. Whittier Trust Co. boosted its holdings in shares of IDEX by 38.4% during the 2nd quarter. Whittier Trust Co. now owns 209 shares of the industrial products company’s stock valued at $42,000 after acquiring an additional 58 shares in the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt grew its position in IDEX by 100.0% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 200 shares of the industrial products company’s stock worth $43,000 after acquiring an additional 100 shares during the last quarter. Institutional investors own 97.96% of the company’s stock.

IDEX Trading Down 0.6 %

IEX opened at $230.52 on Wednesday. The stock has a market cap of $17.45 billion, a PE ratio of 35.68, a price-to-earnings-growth ratio of 2.45 and a beta of 0.96. The company has a quick ratio of 2.11, a current ratio of 2.97 and a debt-to-equity ratio of 0.54. IDEX Co. has a twelve month low of $189.51 and a twelve month high of $246.36. The company has a fifty day moving average of $218.10 and a 200-day moving average of $208.10.

IDEX (NYSE:IEX – Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $1.90 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.01. IDEX had a return on equity of 15.92% and a net margin of 15.35%. The firm had revenue of $798.20 million during the quarter, compared to analyst estimates of $793.05 million. During the same period last year, the company posted $2.12 EPS. The business’s quarterly revenue was up .6% on a year-over-year basis. On average, sell-side analysts predict that IDEX Co. will post 7.89 EPS for the current year.

IDEX Announces Dividend

The firm also recently declared 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 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date is Friday, January 17th. IDEX’s payout ratio is 42.72%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on IEX shares. Argus downgraded IDEX from a “buy” rating to a “hold” rating in a research report on Wednesday, August 14th. Robert W. Baird dropped their price objective 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 boosted their target price on shares of IDEX from $236.00 to $248.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Stifel Nicolaus lifted their price target on shares of IDEX from $232.00 to $244.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Finally, TD Cowen decreased their price objective on IDEX from $240.00 to $230.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Three 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 company currently has a consensus rating of “Moderate Buy” and an average price target of $241.14.

View Our Latest Analysis on IEX

About IDEX

(Free Report)

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.

Featured Articles

Want to see what other hedge funds are holding IEX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for IDEX Co. (NYSE:IEX – Free Report).