Guinness Asset Management LTD Acquires 93 Shares of IDEX Co. (NYSE:IEX)

Guinness Asset Management LTD raised its stake in shares of IDEX Co. (NYSE:IEX) by 4.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,408 shares of the industrial products company’s stock after purchasing an additional 93 shares during the period. Guinness Asset Management LTD’s holdings in IDEX were worth $504,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of IEX. Catalyst Capital Advisors LLC raised its position in shares of IDEX by 73.8% during the third quarter. Catalyst Capital Advisors LLC now owns 139 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 59 shares during the last quarter. Assetmark Inc. acquired a new stake in IDEX during the 3rd quarter valued at approximately $39,000. Livforsakringsbolaget Skandia Omsesidigt lifted its position in shares of IDEX by 100.0% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 200 shares of the industrial products company’s stock worth $43,000 after purchasing an additional 100 shares during the period. EverSource Wealth Advisors LLC boosted its stake in shares of IDEX by 19.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 344 shares of the industrial products company’s stock valued at $72,000 after purchasing an additional 57 shares during the last quarter. Finally, Brooklyn Investment Group acquired a new stake in shares of IDEX during the third quarter worth $86,000. 97.96% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have commented on IEX shares. Robert W. Baird cut their price target on shares of IDEX from $245.00 to $241.00 and set an “outperform” rating on the stock in a research report on Thursday, October 31st. Citigroup cut their target price on IDEX from $269.00 to $267.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Stifel Nicolaus lifted their target price on IDEX from $244.00 to $256.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Finally, Royal Bank of Canada raised their price objective on shares of IDEX from $248.00 to $258.00 and gave the stock an “outperform” rating in a research report on Friday, December 6th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, IDEX presently has a consensus rating of “Moderate Buy” and a consensus price target of $242.86.

IDEX Trading Down 0.7 %

NYSE IEX opened at $215.67 on Monday. IDEX Co. has a 52 week low of $189.51 and a 52 week high of $246.36. The business has a 50 day moving average price of $220.31 and a 200-day moving average price of $210.54. The company has a quick ratio of 2.11, a current ratio of 2.97 and a debt-to-equity ratio of 0.54. The company has a market cap of $16.33 billion, a price-to-earnings ratio of 33.39, a P/E/G ratio of 2.03 and a beta of 0.97.

IDEX (NYSE:IEX) last announced its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $1.90 EPS for the quarter, beating analysts’ consensus estimates of $1.89 by $0.01. IDEX had a net margin of 15.35% and a return on equity of 15.92%. The business had revenue of $798.20 million during the quarter, compared to analyst estimates of $793.05 million. During the same quarter in the previous year, the business posted $2.12 EPS. IDEX’s quarterly revenue was up .6% on a year-over-year basis. As a group, equities analysts expect that IDEX Co. will post 7.89 earnings per share for the current fiscal year.

IDEX Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 17th will be paid a dividend of $0.69 per share. The ex-dividend date of this dividend is Friday, January 17th. This represents a $2.76 dividend on an annualized basis and a yield of 1.28%. IDEX’s dividend payout ratio (DPR) is currently 42.72%.

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.