Crossmark Global Holdings Inc. Reduces Position in IDEX Co. (NYSE:IEX)

Crossmark Global Holdings Inc. lowered its position in shares of IDEX Co. (NYSE:IEX) by 16.8% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 5,730 shares of the industrial products company’s stock after selling 1,154 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in IDEX were worth $1,229,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Catalyst Capital Advisors LLC raised its position in IDEX by 73.8% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 139 shares of the industrial products company’s stock worth $30,000 after buying an additional 59 shares during the last quarter. Assetmark Inc. acquired a new stake in shares of IDEX in the third quarter worth $39,000. Livforsakringsbolaget Skandia Omsesidigt raised its holdings in shares of IDEX by 100.0% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 200 shares of the industrial products company’s stock worth $43,000 after purchasing an additional 100 shares during the last quarter. EdgeRock Capital LLC acquired a new position in IDEX during the second quarter valued at $41,000. Finally, Whittier Trust Co. boosted its holdings in IDEX by 38.4% in the second quarter. Whittier Trust Co. now owns 209 shares of the industrial products company’s stock valued at $42,000 after purchasing an additional 58 shares during the last quarter. Hedge funds and other institutional investors own 97.96% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on IEX. Robert W. Baird dropped their target price on IDEX from $245.00 to $241.00 and set an “outperform” rating on the stock in a report on Thursday, October 31st. TD Cowen cut their target price on shares of IDEX from $240.00 to $230.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Royal Bank of Canada boosted their target price on shares of IDEX from $236.00 to $248.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. DA Davidson dropped their price target on shares of IDEX from $220.00 to $210.00 and set a “neutral” rating on the stock in a research report on Monday, August 5th. Finally, Stifel Nicolaus upped their price objective on shares of IDEX from $232.00 to $244.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, IDEX currently has a consensus rating of “Moderate Buy” and an average price target of $241.14.

IDEX Stock Performance

NYSE:IEX opened at $231.00 on Thursday. IDEX Co. has a 52 week low of $189.51 and a 52 week high of $246.36. The company has a fifty day simple moving average of $210.90 and a two-hundred day simple moving average of $207.59. The company has a quick ratio of 2.11, a current ratio of 2.97 and a debt-to-equity ratio of 0.54. The company has a market cap of $17.49 billion, a price-to-earnings ratio of 35.76, a price-to-earnings-growth ratio of 2.41 and a beta of 0.96.

IDEX (NYSE:IEX) last issued its earnings results on Tuesday, October 29th. The industrial products company reported $1.90 earnings per share for the quarter, beating the consensus estimate of $1.89 by $0.01. IDEX had a net margin of 15.35% and a return on equity of 15.92%. The firm 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 earnings per share. The firm’s revenue was up .6% compared to the same quarter last year. As a group, equities analysts anticipate that IDEX Co. will post 7.88 earnings per share for the current fiscal year.

IDEX Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 17th will be given a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a dividend yield of 1.19%. IDEX’s dividend payout ratio is presently 42.72%.

IDEX 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.