Janney Montgomery Scott LLC Cuts Position in IDEX Corporation (NYSE:IEX)

Janney Montgomery Scott LLC reduced its holdings in shares of IDEX Corporation (NYSE:IEX) by 27.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,218 shares of the industrial products company’s stock after selling 454 shares during the quarter. Janney Montgomery Scott LLC’s holdings in IDEX were worth $221,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of IDEX by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 9,306,008 shares of the industrial products company’s stock worth $1,947,654,000 after acquiring an additional 63,432 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of IDEX by 49.1% during the fourth quarter. Wellington Management Group LLP now owns 4,219,596 shares of the industrial products company’s stock valued at $883,119,000 after purchasing an additional 1,388,667 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of IDEX by 8.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,666,777 shares of the industrial products company’s stock worth $767,421,000 after buying an additional 277,964 shares during the last quarter. Geode Capital Management LLC increased its stake in IDEX by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 1,912,933 shares of the industrial products company’s stock valued at $399,350,000 after purchasing an additional 21,758 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. increased its stake in IDEX by 0.9% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,868,919 shares of the industrial products company’s stock valued at $391,147,000 after purchasing an additional 17,087 shares during the last quarter. 97.96% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CFO Akhil Mahendra sold 250 shares of the company’s stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $180.89, for a total transaction of $45,222.50. Following the sale, the chief financial officer owned 5,035 shares in the company, valued at $910,781.15. This represents a 4.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.50% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

IEX has been the subject of several research analyst reports. Citigroup reduced their price objective on shares of IDEX from $264.00 to $201.00 and set a “buy” rating for the company in a report on Monday, April 14th. Stifel Nicolaus raised their price objective on shares of IDEX from $192.00 to $208.00 and gave the company a “buy” rating in a research report on Friday, May 2nd. Royal Bank Of Canada boosted their target price on shares of IDEX from $206.00 to $208.00 and gave the stock an “outperform” rating in a research report on Friday, May 2nd. Robert W. Baird set a $215.00 price target on shares of IDEX in a research note on Friday, May 2nd. Finally, Mizuho set a $185.00 price objective on IDEX in a report on Friday, May 16th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, IDEX presently has a consensus rating of “Moderate Buy” and an average target price of $212.50.

IDEX Stock Performance

Shares of NYSE:IEX opened at $181.25 on Monday. The stock has a market capitalization of $13.69 billion, a P/E ratio of 28.72, a P/E/G ratio of 1.84 and a beta of 1.04. IDEX Corporation has a 1-year low of $153.36 and a 1-year high of $238.22. The company has a current ratio of 2.79, a quick ratio of 1.99 and a debt-to-equity ratio of 0.47. The business has a 50-day moving average price of $180.68 and a two-hundred day moving average price of $189.06.

IDEX (NYSE:IEX) last posted its earnings results on Thursday, May 1st. The industrial products company reported $1.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.64 by $0.11. IDEX had a return on equity of 15.51% and a net margin of 14.60%. The company had revenue of $814.30 million during the quarter, compared to analyst estimates of $807.25 million. During the same period in the previous year, the company earned $1.88 EPS. The company’s revenue for the quarter was up 1.7% compared to the same quarter last year. Equities analysts predict that IDEX Corporation will post 8.26 earnings per share for the current year.

IDEX Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Friday, July 11th will be given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date is Friday, July 11th. IDEX’s dividend payout ratio (DPR) is currently 45.01%.

About IDEX

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.