Stratos Wealth Partners LTD. Has $300,000 Position in IDEX Corporation (NYSE:IEX)

Stratos Wealth Partners LTD. reduced its position in shares of IDEX Corporation (NYSE:IEX) by 72.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,657 shares of the industrial products company’s stock after selling 4,389 shares during the period. Stratos Wealth Partners LTD.’s holdings in IDEX were worth $300,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Banque de Luxembourg S.A. bought a new position in IDEX during the 4th quarter worth $27,000. MassMutual Private Wealth & Trust FSB increased its stake in IDEX by 81.0% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 143 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 64 shares during the period. UMB Bank n.a. increased its stake in IDEX by 63.5% during the 1st quarter. UMB Bank n.a. now owns 224 shares of the industrial products company’s stock worth $41,000 after acquiring an additional 87 shares during the period. Quarry LP bought a new position in IDEX during the 4th quarter worth $49,000. Finally, Orion Capital Management LLC bought a new position in shares of IDEX in the 4th quarter valued at $86,000. 97.96% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

IEX has been the topic of several recent analyst reports. Citigroup lifted their price target on IDEX from $208.00 to $216.00 and gave the company a “buy” rating in a research note on Monday. Royal Bank Of Canada raised their price objective on IDEX from $206.00 to $208.00 and gave the company an “outperform” rating in a report on Friday, May 2nd. Stifel Nicolaus upped their price target on IDEX from $192.00 to $208.00 and gave the company a “buy” rating in a research report on Friday, May 2nd. Mizuho set a $185.00 price target on IDEX in a research report on Friday, May 16th. Finally, Robert W. Baird set a $215.00 price target on IDEX in a research report on Friday, May 2nd. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $214.38.

IDEX Stock Down 0.7%

Shares of NYSE:IEX opened at $179.58 on Wednesday. The company has a market capitalization of $13.57 billion, a price-to-earnings ratio of 28.46, a P/E/G ratio of 1.84 and a beta of 1.04. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.79 and a quick ratio of 1.99. The business’s 50-day moving average is $181.39 and its 200-day moving average is $187.76. IDEX Corporation has a 1 year low of $153.36 and a 1 year high of $238.22.

IDEX (NYSE:IEX) last issued its earnings results on Thursday, May 1st. The industrial products company reported $1.75 EPS for the quarter, beating analysts’ consensus estimates of $1.64 by $0.11. IDEX had a return on equity of 15.51% and a net margin of 14.60%. The business 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 posted $1.88 EPS. The firm’s revenue was up 1.7% compared to the same quarter last year. Equities research analysts predict that IDEX Corporation will post 8.26 earnings per share for the current year.

IDEX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Stockholders 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 dividend yield of 1.58%. The ex-dividend date is Friday, July 11th. IDEX’s payout ratio is 45.01%.

Insider Buying and Selling at IDEX

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 transaction, the chief financial officer directly owned 5,035 shares of the company’s stock, valued at $910,781.15. This represents a 4.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.50% of the stock is owned by insiders.

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.