Hantz Financial Services Inc. Makes New $107,000 Investment in IDEX Co. (NYSE:IEX)

Hantz Financial Services Inc. bought a new position in shares of IDEX Co. (NYSE:IEX) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 534 shares of the industrial products company’s stock, valued at approximately $107,000.

Several other hedge funds also recently made changes to their positions in IEX. International Assets Investment Management LLC bought a new position in IDEX during the 4th quarter worth $518,000. Van ECK Associates Corp increased its position in shares of IDEX by 6.4% in the fourth quarter. Van ECK Associates Corp now owns 10,457 shares of the industrial products company’s stock worth $2,270,000 after purchasing an additional 627 shares during the period. National Bank of Canada FI raised its stake in IDEX by 7.3% in the fourth quarter. National Bank of Canada FI now owns 20,187 shares of the industrial products company’s stock valued at $4,341,000 after purchasing an additional 1,382 shares in the last quarter. Metis Global Partners LLC lifted its position in IDEX by 3.0% during the fourth quarter. Metis Global Partners LLC now owns 6,166 shares of the industrial products company’s stock worth $1,339,000 after purchasing an additional 178 shares during the period. Finally, Spire Wealth Management grew its stake in IDEX by 43.7% during the fourth quarter. Spire Wealth Management now owns 25,436 shares of the industrial products company’s stock worth $5,266,000 after buying an additional 7,739 shares in the last quarter. 97.96% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. DA Davidson cut their price target on shares of IDEX from $220.00 to $210.00 and set a “neutral” rating for the company in a report on Monday, August 5th. TD Cowen reduced their target price on IDEX from $240.00 to $230.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Stifel Nicolaus lowered their price target on IDEX from $265.00 to $236.00 and set a “buy” rating for the company in a report on Thursday, July 18th. Royal Bank of Canada reduced their price objective on IDEX from $250.00 to $236.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. Finally, Oppenheimer lowered their target price on IDEX from $245.00 to $238.00 and set an “outperform” rating for the company in a research note on Monday, August 5th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $233.50.

IDEX Stock Up 0.6 %

Shares of NYSE IEX opened at $206.48 on Tuesday. The company has a 50 day simple moving average of $200.19 and a 200 day simple moving average of $216.78. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.41 and a quick ratio of 2.52. IDEX Co. has a 1 year low of $183.76 and a 1 year high of $246.36. The firm has a market cap of $15.63 billion, a PE ratio of 27.17, a price-to-earnings-growth ratio of 2.18 and a beta of 0.95.

IDEX (NYSE:IEX) last issued its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $2.06 EPS for the quarter, topping analysts’ consensus estimates of $2.04 by $0.02. The company had revenue of $807.20 million for the quarter, compared to analyst estimates of $828.15 million. IDEX had a net margin of 18.19% and a return on equity of 16.87%. IDEX’s revenue was down 4.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.18 earnings per share. On average, research analysts forecast that IDEX Co. will post 7.88 EPS for the current year.

IDEX Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 26th. Stockholders of record on Friday, July 12th were given a dividend of $0.69 per share. The ex-dividend date was Friday, July 12th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.34%. IDEX’s dividend payout ratio (DPR) is 36.32%.

IDEX Company 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.