Independent Advisor Alliance Has $3.60 Million Holdings in IDEX Co. (NYSE:IEX)

Independent Advisor Alliance cut its holdings in shares of IDEX Co. (NYSE:IEX) by 12.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,776 shares of the industrial products company’s stock after selling 2,400 shares during the quarter. Independent Advisor Alliance’s holdings in IDEX were worth $3,598,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in IEX. Van ECK Associates Corp increased its holdings in shares of IDEX by 9,424.6% during the third quarter. Van ECK Associates Corp now owns 1,032,277 shares of the industrial products company’s stock worth $211,473,000 after purchasing an additional 1,021,439 shares during the period. Champlain Investment Partners LLC increased its stake in IDEX by 28.8% in the third quarter. Champlain Investment Partners LLC now owns 1,223,676 shares of the industrial products company’s stock valued at $262,479,000 after acquiring an additional 273,460 shares during the last quarter. Hsbc Holdings PLC increased its stake in IDEX by 75.6% in the second quarter. Hsbc Holdings PLC now owns 519,124 shares of the industrial products company’s stock valued at $104,179,000 after acquiring an additional 223,422 shares during the last quarter. D. E. Shaw & Co. Inc. increased its stake in IDEX by 247.0% in the second quarter. D. E. Shaw & Co. Inc. now owns 198,170 shares of the industrial products company’s stock valued at $39,872,000 after acquiring an additional 141,064 shares during the last quarter. Finally, Millennium Management LLC increased its stake in IDEX by 1,541.6% in the second quarter. Millennium Management LLC now owns 138,744 shares of the industrial products company’s stock valued at $27,915,000 after acquiring an additional 130,292 shares during the last quarter. 97.96% of the stock is owned by institutional investors.

IDEX Stock Up 1.5 %

Shares of NYSE IEX opened at $236.09 on Tuesday. The company has a 50 day simple moving average of $215.75 and a 200 day simple moving average of $207.86. The firm has a market cap of $17.88 billion, a PE ratio of 36.55, a price-to-earnings-growth ratio of 2.46 and a beta of 0.96. IDEX Co. has a 1 year low of $189.51 and a 1 year high of $246.36. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.97 and a quick ratio of 2.11.

IDEX (NYSE:IEX) last issued its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $1.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.89 by $0.01. The business had revenue of $798.20 million during the quarter, compared to analyst estimates of $793.05 million. IDEX had a net margin of 15.35% and a return on equity of 15.92%. The firm’s quarterly revenue was up .6% on a year-over-year basis. During the same quarter last year, the business earned $2.12 EPS. On average, research analysts forecast that IDEX Co. will post 7.88 EPS for the current year.

IDEX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 17th will be issued a $0.69 dividend. The ex-dividend date is Friday, January 17th. This represents a $2.76 dividend on an annualized basis and a yield of 1.17%. IDEX’s dividend payout ratio (DPR) is presently 42.72%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on IEX. TD Cowen decreased their price objective on shares of IDEX from $240.00 to $230.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Argus cut shares of IDEX from a “buy” rating to a “hold” rating in a research note on Wednesday, August 14th. Royal Bank of Canada lifted their price objective on shares of IDEX from $236.00 to $248.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Robert W. Baird decreased their price objective on shares of IDEX from $245.00 to $241.00 and set an “outperform” rating on the stock in a research note on Thursday, October 31st. Finally, Oppenheimer lowered their price target on shares of IDEX from $245.00 to $238.00 and set an “outperform” rating for the company in a report on Monday, August 5th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $241.14.

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.