Choreo LLC Buys 564 Shares of IDEX Co. (NYSE:IEX)

Choreo LLC lifted its stake in IDEX Co. (NYSE:IEX) by 20.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,318 shares of the industrial products company’s stock after buying an additional 564 shares during the period. Choreo LLC’s holdings in IDEX were worth $649,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in IEX. Riverview Trust Co bought a new stake in shares of IDEX in the first quarter valued at approximately $35,000. Quarry LP bought a new stake in IDEX during the fourth quarter worth $36,000. EdgeRock Capital LLC bought a new stake in IDEX during the second quarter worth $41,000. Whittier Trust Co. lifted its stake in IDEX by 38.4% during the second quarter. Whittier Trust Co. now owns 209 shares of the industrial products company’s stock worth $42,000 after purchasing an additional 58 shares during the last quarter. Finally, UMB Bank n.a. lifted its stake in IDEX by 31.0% during the second quarter. UMB Bank n.a. now owns 241 shares of the industrial products company’s stock worth $48,000 after purchasing an additional 57 shares during the last quarter. 97.96% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on IEX shares. TD Cowen cut their target price on IDEX from $240.00 to $230.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Oppenheimer cut their target price on IDEX from $245.00 to $238.00 and set an “outperform” rating for the company in a research note on Monday, August 5th. Robert W. Baird cut their target price on IDEX from $256.00 to $241.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. Royal Bank of Canada cut their target price on IDEX from $250.00 to $236.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. Finally, DA Davidson lowered their price target on shares of IDEX from $220.00 to $210.00 and set a “neutral” rating for the company in a report on Monday, August 5th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $233.50.

IDEX Stock Performance

NYSE IEX opened at $199.78 on Friday. The company has a market capitalization of $15.12 billion, a price-to-earnings ratio of 26.29, a PEG ratio of 2.09 and a beta of 0.95. IDEX Co. has a twelve month low of $183.76 and a twelve month high of $246.36. The stock has a fifty day simple moving average of $200.32 and a 200 day simple moving average of $214.71. The company has a quick ratio of 2.52, a current ratio of 3.41 and a debt-to-equity ratio of 0.36.

IDEX (NYSE:IEX) last posted its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $2.06 earnings per share for the quarter, beating analysts’ consensus estimates of $2.04 by $0.02. The business had revenue of $807.20 million during the quarter, compared to the consensus estimate of $828.15 million. IDEX had a return on equity of 16.87% and a net margin of 18.19%. IDEX’s quarterly revenue was down 4.6% on a year-over-year basis. During the same period in the prior year, the business posted $2.18 earnings per share. Sell-side analysts expect that IDEX Co. will post 7.88 EPS for the current year.

IDEX Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 26th. Investors 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 yield of 1.38%. IDEX’s payout ratio is 36.32%.

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.