IDEX Co. (NYSE:IEX) Shares Sold by Montag A & Associates Inc.

Montag A & Associates Inc. lowered its holdings in IDEX Co. (NYSE:IEX) by 9.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 7,340 shares of the industrial products company’s stock after selling 780 shares during the quarter. Montag A & Associates Inc.’s holdings in IDEX were worth $1,791,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Riverview Trust Co acquired a new position in shares of IDEX during the 1st quarter worth $35,000. Planned Solutions Inc. purchased a new stake in IDEX during the 4th quarter worth about $33,000. Quarry LP purchased a new stake in IDEX during the 4th quarter worth about $36,000. EdgeRock Capital LLC purchased a new stake in IDEX during the 4th quarter worth about $48,000. Finally, VisionPoint Advisory Group LLC purchased a new stake in IDEX in the 4th quarter valued at about $50,000. Institutional investors and hedge funds own 97.96% of the company’s stock.

IDEX Stock Up 1.2 %

IDEX stock traded up $2.52 during midday trading on Monday, hitting $206.98. 120,219 shares of the company were exchanged, compared to its average volume of 418,704. The company’s fifty day moving average price is $207.92 and its 200-day moving average price is $220.16. The company has a market cap of $15.67 billion, a PE ratio of 26.90, a price-to-earnings-growth ratio of 2.05 and a beta of 0.96. The company has a debt-to-equity ratio of 0.37, a current ratio of 3.37 and a quick ratio of 2.45. IDEX Co. has a fifty-two week low of $183.76 and a fifty-two week high of $246.36.

IDEX (NYSE:IEX) last released its quarterly earnings results on Tuesday, April 23rd. The industrial products company reported $1.88 EPS for the quarter, topping the consensus estimate of $1.76 by $0.12. IDEX had a return on equity of 17.60% and a net margin of 17.89%. The firm had revenue of $801.00 million for the quarter, compared to analyst estimates of $807.52 million. During the same period in the previous year, the company posted $2.09 EPS. IDEX’s revenue for the quarter was down 5.3% on a year-over-year basis. On average, research analysts predict that IDEX Co. will post 8.3 EPS for the current fiscal year.

IDEX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Friday, July 12th will be given a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.33%. The ex-dividend date is Friday, July 12th. IDEX’s payout ratio is 36.32%.

Analysts Set New Price Targets

Several analysts have commented on IEX shares. Royal Bank of Canada restated an “outperform” rating and issued a $255.00 price target on shares of IDEX in a report on Thursday, March 21st. Citigroup lifted their price target on IDEX from $254.00 to $277.00 and gave the company a “buy” rating in a report on Monday, April 8th. StockNews.com cut IDEX from a “buy” rating to a “hold” rating in a report on Thursday. Robert W. Baird lowered their price target on IDEX from $260.00 to $256.00 and set an “outperform” rating for the company in a report on Thursday, April 25th. Finally, Oppenheimer boosted their target price on IDEX from $245.00 to $252.00 and gave the stock an “outperform” rating in a report on Thursday, April 18th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $250.71.

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.