SG Americas Securities LLC Reduces Stake in IDEX Co. (NYSE:IEX)

SG Americas Securities LLC decreased its stake in shares of IDEX Co. (NYSE:IEX) by 14.4% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 32,162 shares of the industrial products company’s stock after selling 5,399 shares during the period. SG Americas Securities LLC’s holdings in IDEX were worth $6,471,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. UBS Group AG grew its position in IDEX by 177.3% during the 4th quarter. UBS Group AG now owns 57,255 shares of the industrial products company’s stock worth $12,431,000 after acquiring an additional 36,606 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of IDEX by 2.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 608,744 shares of the industrial products company’s stock worth $132,164,000 after purchasing an additional 15,202 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in shares of IDEX by 90.1% in the 1st quarter. BNP Paribas Financial Markets now owns 69,984 shares of the industrial products company’s stock worth $17,077,000 after purchasing an additional 33,162 shares in the last quarter. Westfield Capital Management Co. LP grew its holdings in shares of IDEX by 3.0% in the fourth quarter. Westfield Capital Management Co. LP now owns 370,805 shares of the industrial products company’s stock worth $80,505,000 after acquiring an additional 10,742 shares during the period. Finally, Neuberger Berman Group LLC grew its holdings in shares of IDEX by 1.9% in the fourth quarter. Neuberger Berman Group LLC now owns 36,271 shares of the industrial products company’s stock worth $7,875,000 after acquiring an additional 664 shares during the period. 97.96% of the stock is currently owned by institutional investors.

IDEX Stock Down 0.3 %

Shares of NYSE:IEX traded down $0.52 during trading hours on Friday, reaching $194.34. The stock had a trading volume of 338,170 shares, compared to its average volume of 438,506. IDEX Co. has a 1 year low of $183.76 and a 1 year high of $246.36. The firm’s 50 day moving average is $201.21 and its 200-day moving average is $218.88. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.45 and a current ratio of 3.41. The stock has a market capitalization of $14.71 billion, a price-to-earnings ratio of 25.57, a P/E/G ratio of 2.08 and a beta of 0.95.

IDEX (NYSE:IEX) last issued its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $2.06 earnings per share for the quarter, topping analysts’ consensus estimates of $2.04 by $0.02. IDEX had a net margin of 18.19% and a return on equity of 16.87%. The firm had revenue of $807.20 million during the quarter, compared to analysts’ expectations of $828.15 million. During the same quarter in the prior year, the business earned $2.18 EPS. IDEX’s quarterly revenue was down 4.6% compared to the same quarter last year. Research analysts predict that IDEX Co. will post 7.85 earnings per share for the current fiscal year.

IDEX Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, July 26th. Stockholders of record on Friday, July 12th were issued a $0.69 dividend. The ex-dividend date was Friday, July 12th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.42%. IDEX’s dividend payout ratio is presently 36.32%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on IEX shares. Robert W. Baird lowered their target price on IDEX from $256.00 to $241.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. DA Davidson decreased their target price on IDEX from $220.00 to $210.00 and set a “neutral” rating on the stock in a research report on Monday, August 5th. StockNews.com downgraded IDEX from a “buy” rating to a “hold” rating in a research report on Thursday, July 11th. Oppenheimer cut their target price on IDEX from $245.00 to $238.00 and set an “outperform” rating on the stock in a research note on Monday, August 5th. Finally, Royal Bank of Canada cut their target price on IDEX from $250.00 to $236.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, IDEX currently has an average rating of “Moderate Buy” and a consensus price target of $235.33.

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.