Brooklyn Investment Group Makes New Investment in IDEX Co. (NYSE:IEX)

Brooklyn Investment Group bought a new stake in IDEX Co. (NYSE:IEX) during the third quarter, HoldingsChannel.com reports. The institutional investor bought 400 shares of the industrial products company’s stock, valued at approximately $86,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Champlain Investment Partners LLC grew 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 worth $262,479,000 after purchasing an additional 273,460 shares in the last quarter. Van ECK Associates Corp increased its holdings in shares of IDEX by 9,424.6% in 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 acquiring an additional 1,021,439 shares during the last quarter. King Luther Capital Management Corp raised its position in shares of 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 in the last quarter. Fisher Asset Management LLC lifted its stake in IDEX by 7.6% during the third quarter. Fisher Asset Management LLC now owns 659,006 shares of the industrial products company’s stock worth $141,357,000 after purchasing an additional 46,770 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in IDEX by 0.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 630,443 shares of the industrial products company’s stock worth $135,230,000 after purchasing an additional 4,629 shares during the period. 97.96% of the stock is currently owned by hedge funds and other institutional investors.

IDEX Price Performance

NYSE IEX opened at $231.10 on Friday. The company has a 50 day moving average price of $216.81 and a two-hundred day moving average price of $208.07. IDEX Co. has a 12-month low of $189.51 and a 12-month high of $246.36. The stock has a market capitalization of $17.50 billion, a PE ratio of 35.77, a price-to-earnings-growth ratio of 2.50 and a beta of 0.96. The company has a quick ratio of 2.11, a current ratio of 2.97 and a debt-to-equity ratio of 0.54.

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

IDEX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 17th will be given a $0.69 dividend. This represents a $2.76 annualized dividend and a yield of 1.19%. The ex-dividend date is Friday, January 17th. IDEX’s dividend payout ratio is currently 42.72%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. DA Davidson cut their target price on shares of IDEX from $220.00 to $210.00 and set a “neutral” rating on the stock in a report on Monday, August 5th. Stifel Nicolaus raised their price target on IDEX from $232.00 to $244.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Robert W. Baird lowered their price objective on IDEX from $245.00 to $241.00 and set an “outperform” rating for the company in a research note on Thursday, October 31st. Royal Bank of Canada raised their target price on IDEX from $236.00 to $248.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Finally, Argus lowered shares of IDEX from a “buy” rating to a “hold” rating in a research report on Wednesday, August 14th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $241.14.

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.