Park Avenue Securities LLC Sells 228 Shares of IDEX Co. (NYSE:IEX)

Park Avenue Securities LLC lowered its stake in IDEX Co. (NYSE:IEX) by 11.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,835 shares of the industrial products company’s stock after selling 228 shares during the period. Park Avenue Securities LLC’s holdings in IDEX were worth $394,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the stock. UMB Bank n.a. boosted its holdings in IDEX by 31.0% in the second quarter. UMB Bank n.a. now owns 241 shares of the industrial products company’s stock valued at $48,000 after acquiring an additional 57 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of IDEX by 19.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 344 shares of the industrial products company’s stock valued at $72,000 after buying an additional 57 shares in the last quarter. Whittier Trust Co. boosted its holdings in shares of IDEX by 38.4% during the 2nd quarter. Whittier Trust Co. now owns 209 shares of the industrial products company’s stock valued at $42,000 after buying an additional 58 shares in the last quarter. Czech National Bank boosted its holdings in shares of IDEX by 0.5% during the 1st quarter. Czech National Bank now owns 13,306 shares of the industrial products company’s stock valued at $3,247,000 after buying an additional 61 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund boosted its holdings in shares of IDEX by 1.0% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 6,476 shares of the industrial products company’s stock valued at $1,303,000 after buying an additional 61 shares in the last quarter. Institutional investors own 97.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on IEX. TD Cowen dropped their target price on shares of IDEX from $240.00 to $230.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Royal Bank of Canada dropped their target price on shares of IDEX from $250.00 to $236.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. Stifel Nicolaus dropped their price target on shares of IDEX from $265.00 to $236.00 and set a “buy” rating on the stock in a research note on Thursday, July 18th. Argus cut shares of IDEX from a “buy” rating to a “hold” rating in a research note on Wednesday, August 14th. Finally, Robert W. Baird dropped their price target on shares of IDEX from $256.00 to $241.00 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 six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $238.29.

IDEX Price Performance

Shares of NYSE:IEX opened at $211.49 on Friday. IDEX Co. has a fifty-two week low of $183.76 and a fifty-two week high of $246.36. The business has a 50-day simple moving average of $202.97 and a two-hundred day simple moving average of $210.52. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.52 and a current ratio of 3.41. The firm has a market cap of $16.01 billion, a price-to-earnings ratio of 27.68, a price-to-earnings-growth ratio of 2.20 and a beta of 0.95.

IDEX (NYSE:IEX) last issued its 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 return on equity of 16.87% and a net margin of 18.19%. The business had revenue of $807.20 million during the quarter, compared to analyst estimates of $828.15 million. During the same quarter in the previous year, the firm earned $2.18 EPS. IDEX’s revenue was down 4.6% on a year-over-year basis. On average, analysts expect that IDEX Co. will post 7.88 earnings per share for the current year.

IDEX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, October 11th will be given a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a dividend yield of 1.31%. The ex-dividend date is Friday, October 11th. IDEX’s payout ratio is currently 36.13%.

IDEX Company 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.