IDEX Co. (NYSE:IEX) Shares Sold by L. Roy Papp & Associates LLP

L. Roy Papp & Associates LLP lessened its position in IDEX Co. (NYSE:IEX) by 3.0% during the third quarter, Holdings Channel reports. The fund owned 14,700 shares of the industrial products company’s stock after selling 450 shares during the quarter. L. Roy Papp & Associates LLP’s holdings in IDEX were worth $3,153,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of IEX. Wealth Enhancement Advisory Services LLC grew its position in IDEX by 119.3% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 4,864 shares of the industrial products company’s stock valued at $1,043,000 after buying an additional 2,646 shares in the last quarter. Forsta AP Fonden grew its position in IDEX by 6.7% in the 3rd quarter. Forsta AP Fonden now owns 24,000 shares of the industrial products company’s stock valued at $5,148,000 after buying an additional 1,500 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in IDEX by 19.0% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,887 shares of the industrial products company’s stock valued at $1,696,000 after buying an additional 1,257 shares in the last quarter. Lake Street Advisors Group LLC bought a new position in IDEX in the 3rd quarter valued at about $248,000. Finally, Blackston Financial Advisory Group LLC grew its position in IDEX by 32.8% in the 3rd quarter. Blackston Financial Advisory Group LLC now owns 2,239 shares of the industrial products company’s stock valued at $480,000 after buying an additional 553 shares in the last quarter. Institutional investors and hedge funds own 97.96% of the company’s stock.

IDEX Trading Down 0.3 %

Shares of IEX traded down $0.66 during midday trading on Friday, hitting $202.82. The stock had a trading volume of 268,778 shares, compared to its average volume of 418,608. IDEX Co. has a fifty-two week low of $183.76 and a fifty-two week high of $246.36. The business has a 50-day simple moving average of $205.96 and a two-hundred day simple moving average of $208.24. The firm has a market cap of $15.35 billion, a P/E ratio of 26.55, a price-to-earnings-growth ratio of 2.20 and a beta of 0.95. The company has a current ratio of 3.41, a quick ratio of 2.52 and a debt-to-equity ratio of 0.36.

IDEX (NYSE:IEX) last announced its earnings results on Wednesday, July 31st. The industrial products company reported $2.06 EPS for the quarter, topping the consensus estimate of $2.04 by $0.02. IDEX had a net margin of 18.19% and a return on equity of 16.87%. The company had revenue of $807.20 million during the quarter, compared to analysts’ expectations of $828.15 million. During the same period last year, the company posted $2.18 earnings per share. The business’s revenue for the quarter was down 4.6% on a year-over-year basis. As a group, equities analysts forecast that IDEX Co. will post 7.87 EPS for the current year.

IDEX Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, October 11th were issued a $0.69 dividend. This represents a $2.76 annualized dividend and a dividend yield of 1.36%. The ex-dividend date of this dividend was Friday, October 11th. IDEX’s payout ratio is 36.13%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on IEX shares. TD Cowen decreased their target price on shares of IDEX from $240.00 to $230.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Stifel Nicolaus increased their target price on shares of IDEX from $232.00 to $244.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. StockNews.com lowered shares of IDEX from a “buy” rating to a “hold” rating in a research report on Thursday, July 11th. Oppenheimer reduced their price objective on shares of IDEX from $245.00 to $238.00 and set an “outperform” rating for the company in a research report on Monday, August 5th. Finally, Royal Bank of Canada reduced their price objective on shares of IDEX from $250.00 to $236.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, IDEX has a consensus rating of “Moderate Buy” and a consensus price target of $239.43.

IDEX 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.