Park Avenue Securities LLC Has $369,000 Stake in IDEX Co. (NYSE:IEX)

Park Avenue Securities LLC raised its position in shares of IDEX Co. (NYSE:IEXGet Rating) by 8.9% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 1,844 shares of the industrial products company’s stock after acquiring an additional 150 shares during the period. Park Avenue Securities LLC’s holdings in IDEX were worth $369,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Parkside Financial Bank & Trust increased its holdings in shares of IDEX by 120.3% during the first quarter. Parkside Financial Bank & Trust now owns 141 shares of the industrial products company’s stock worth $27,000 after buying an additional 77 shares in the last quarter. Clear Street Markets LLC increased its holdings in shares of IDEX by 416.1% during the second quarter. Clear Street Markets LLC now owns 160 shares of the industrial products company’s stock worth $29,000 after buying an additional 129 shares in the last quarter. Allworth Financial LP increased its holdings in shares of IDEX by 491.2% during the third quarter. Allworth Financial LP now owns 201 shares of the industrial products company’s stock worth $40,000 after buying an additional 167 shares in the last quarter. SeaCrest Wealth Management LLC acquired a new stake in shares of IDEX during the second quarter worth approximately $49,000. Finally, Newfound Research LLC acquired a new stake in shares of IDEX during the third quarter worth approximately $59,000. Institutional investors and hedge funds own 96.58% of the company’s stock.

Analyst Ratings Changes

IEX has been the subject of a number of research reports. DA Davidson raised their price target on shares of IDEX from $220.00 to $225.00 in a report on Tuesday, November 22nd. StockNews.com initiated coverage on shares of IDEX in a report on Wednesday, October 12th. They issued a “buy” rating for the company. Wells Fargo & Company raised their price target on shares of IDEX from $260.00 to $265.00 and gave the company an “overweight” rating in a report on Thursday, October 27th. Cowen raised their price target on shares of IDEX to $240.00 in a report on Tuesday, November 1st. Finally, Mizuho raised their price target on shares of IDEX from $208.00 to $225.00 and gave the company a “neutral” rating in a report on Friday, January 13th. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $234.00.

Insider Transactions at IDEX

In other news, CFO William K. Grogan sold 843 shares of IDEX stock in a transaction on Friday, October 28th. The shares were sold at an average price of $50.45, for a total transaction of $42,529.35. Following the transaction, the chief financial officer now directly owns 127,689 shares of the company’s stock, valued at $6,441,910.05. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CEO Eric D. Ashleman sold 15,848 shares of the business’s stock in a transaction on Friday, October 28th. The shares were sold at an average price of $86.43, for a total value of $1,369,742.64. Following the sale, the chief executive officer now directly owns 38,480 shares of the company’s stock, valued at approximately $3,325,826.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO William K. Grogan sold 843 shares of the business’s stock in a transaction on Friday, October 28th. The shares were sold at an average price of $50.45, for a total transaction of $42,529.35. Following the completion of the sale, the chief financial officer now directly owns 127,689 shares in the company, valued at $6,441,910.05. The disclosure for this sale can be found here. Insiders have sold a total of 19,766 shares of company stock valued at $2,097,044 over the last three months. 0.50% of the stock is currently owned by corporate insiders.

IDEX Price Performance

Shares of IEX stock opened at $231.20 on Monday. IDEX Co. has a 52-week low of $172.18 and a 52-week high of $246.23. The stock has a market cap of $17.44 billion, a PE ratio of 30.62, a PEG ratio of 2.23 and a beta of 1.00. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.33 and a current ratio of 3.23. The firm’s 50 day moving average price is $233.03 and its two-hundred day moving average price is $215.63.

IDEX (NYSE:IEXGet Rating) last announced its quarterly earnings results on Tuesday, October 25th. The industrial products company reported $2.14 earnings per share for the quarter, topping analysts’ consensus estimates of $2.01 by $0.13. The company had revenue of $824.00 million for the quarter, compared to analysts’ expectations of $779.81 million. IDEX had a net margin of 18.66% and a return on equity of 20.68%. The business’s quarterly revenue was up 15.7% compared to the same quarter last year. During the same period last year, the firm posted $1.63 earnings per share. As a group, analysts forecast that IDEX Co. will post 8.09 EPS for the current year.

IDEX Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 27th. Stockholders of record on Friday, January 13th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Thursday, January 12th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.04%. IDEX’s dividend payout ratio is 31.79%.

IDEX Company Profile

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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, small volume provers, flow meters, injectors, and other fluid-handling pump modules and systems, as well as offers flow monitoring and other services for the food, chemical, general industrial, water and wastewater, agricultural, and energy industries.

Further Reading

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Institutional Ownership by Quarter for IDEX (NYSE:IEX)

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