Crossmark Global Holdings Inc. Trims Stock Holdings in IDEX Co. (NYSE:IEX)

Crossmark Global Holdings Inc. lowered its stake in shares of IDEX Co. (NYSE:IEXFree Report) by 51.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,801 shares of the industrial products company’s stock after selling 2,929 shares during the period. Crossmark Global Holdings Inc.’s holdings in IDEX were worth $587,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in IEX. Catalyst Capital Advisors LLC boosted its stake in IDEX by 73.8% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 139 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 59 shares during the period. Assetmark Inc. purchased a new stake in shares of IDEX in the third quarter worth about $39,000. Livforsakringsbolaget Skandia Omsesidigt boosted its position in shares of IDEX by 100.0% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 200 shares of the industrial products company’s stock valued at $43,000 after acquiring an additional 100 shares during the period. EverSource Wealth Advisors LLC grew its stake in IDEX by 19.9% during the second quarter. EverSource Wealth Advisors LLC now owns 344 shares of the industrial products company’s stock valued at $72,000 after acquiring an additional 57 shares in the last quarter. Finally, Brooklyn Investment Group purchased a new stake in IDEX in the 3rd quarter worth approximately $86,000. 97.96% of the stock is currently owned by hedge funds and other institutional investors.

IDEX Stock Down 0.8 %

Shares of NYSE IEX opened at $220.22 on Friday. The stock has a market capitalization of $16.68 billion, a P/E ratio of 34.09, a PEG ratio of 2.17 and a beta of 0.97. 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 Co. has a one year low of $189.51 and a one year high of $246.36. The firm’s 50 day simple moving average is $219.36 and its two-hundred day simple moving average is $211.29.

IDEX (NYSE:IEXGet Free Report) last issued its earnings results on Tuesday, October 29th. The industrial products company reported $1.90 EPS for the quarter, topping analysts’ consensus estimates of $1.89 by $0.01. IDEX had a net margin of 15.35% and a return on equity of 15.92%. The company had revenue of $798.20 million for the quarter, compared to analysts’ expectations of $793.05 million. During the same quarter last year, the company earned $2.12 EPS. The firm’s revenue was up .6% compared to the same quarter last year. As a group, analysts expect that IDEX Co. will post 7.89 EPS for the current fiscal year.

IDEX Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 17th will be given a dividend of $0.69 per share. The ex-dividend date is Friday, January 17th. This represents a $2.76 annualized dividend and a yield of 1.25%. IDEX’s payout ratio is 42.72%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Royal Bank of Canada boosted their price target on shares of IDEX from $248.00 to $258.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. Robert W. Baird lowered their price target on IDEX from $245.00 to $241.00 and set an “outperform” rating on the stock in a report on Thursday, October 31st. Citigroup cut their price objective on IDEX from $269.00 to $267.00 and set a “buy” rating for the company in a report on Monday, January 13th. Finally, Stifel Nicolaus raised their target price on shares of IDEX from $244.00 to $256.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, IDEX currently has an average rating of “Moderate Buy” and a consensus target price of $242.86.

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IDEX Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for IDEX (NYSE:IEX)

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