Fourpath Capital Management LLC Sells 1,217 Shares of IDEX Co. (NYSE:IEX)

Fourpath Capital Management LLC trimmed its position in shares of IDEX Co. (NYSE:IEX) by 16.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,354 shares of the industrial products company’s stock after selling 1,217 shares during the quarter. Fourpath Capital Management LLC’s holdings in IDEX were worth $1,330,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Wellington Management Group LLP boosted its position in shares of IDEX by 108.4% during the third quarter. Wellington Management Group LLP now owns 2,830,929 shares of the industrial products company’s stock valued at $607,234,000 after purchasing an additional 1,472,456 shares in the last quarter. Van ECK Associates Corp boosted its holdings in shares of IDEX by 9,424.6% during the 3rd quarter. Van ECK Associates Corp now owns 1,032,277 shares of the industrial products company’s stock valued at $211,473,000 after buying an additional 1,021,439 shares in the last quarter. Champlain Investment Partners LLC increased its stake in shares of IDEX by 28.8% in the 3rd quarter. Champlain Investment Partners LLC now owns 1,223,676 shares of the industrial products company’s stock worth $262,479,000 after acquiring an additional 273,460 shares in the last quarter. DF Dent & Co. Inc. bought a new position in shares of IDEX in the 3rd quarter worth about $31,747,000. Finally, King Luther Capital Management Corp lifted its position in IDEX by 16.2% during the 3rd quarter. King Luther Capital Management Corp now owns 742,724 shares of the industrial products company’s stock valued at $159,314,000 after acquiring an additional 103,432 shares during the period. Hedge funds and other institutional investors own 97.96% of the company’s stock.

IDEX Trading Down 2.3 %

IDEX stock opened at $219.12 on Tuesday. IDEX Co. has a one year low of $189.51 and a one year high of $246.36. The business’s fifty day moving average is $218.56 and its 200 day moving average is $211.99. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.97 and a quick ratio of 2.11. The stock has a market capitalization of $16.59 billion, a PE ratio of 33.92, a price-to-earnings-growth ratio of 2.21 and a beta of 0.97.

IDEX Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 17th were paid a $0.69 dividend. The ex-dividend date of this dividend was Friday, January 17th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.26%. IDEX’s dividend payout ratio is presently 42.72%.

Analyst Upgrades and Downgrades

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

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.