Thrivent Financial for Lutherans Lowers Holdings in IDEX Co. (NYSE:IEX)

Thrivent Financial for Lutherans decreased its stake in shares of IDEX Co. (NYSE:IEX) by 77.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,888 shares of the industrial products company’s stock after selling 69,110 shares during the quarter. Thrivent Financial for Lutherans’ holdings in IDEX were worth $4,266,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Catalyst Capital Advisors LLC lifted its position in shares of IDEX by 73.8% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 139 shares of the industrial products company’s stock valued at $30,000 after buying an additional 59 shares in the last quarter. Assetmark Inc. purchased a new stake in shares of IDEX in the 3rd quarter valued at approximately $39,000. EdgeRock Capital LLC purchased a new position in shares of IDEX during the second quarter worth $41,000. Whittier Trust Co. grew its position in IDEX by 38.4% in the 2nd quarter. Whittier Trust Co. now owns 209 shares of the industrial products company’s stock valued at $42,000 after acquiring an additional 58 shares in the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt raised its stake 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 in the last quarter. Hedge funds and other institutional investors own 97.96% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Stifel Nicolaus upped their price objective on shares of IDEX from $232.00 to $244.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Oppenheimer dropped their price objective on shares of 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 reduced their target price on IDEX from $245.00 to $241.00 and set an “outperform” rating on the stock in a research report on Thursday, October 31st. Argus downgraded shares of IDEX from a “buy” rating to a “hold” rating in a research note on Wednesday, August 14th. Finally, DA Davidson dropped their target price on IDEX from $220.00 to $210.00 and set a “neutral” rating on the stock in a research report on Monday, August 5th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $241.14.

IDEX Price Performance

Shares of IDEX stock opened at $232.50 on Monday. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.97 and a quick ratio of 2.11. The firm has a fifty day moving average price of $215.08 and a two-hundred day moving average price of $207.77. IDEX Co. has a fifty-two week low of $189.51 and a fifty-two week high of $246.36. The company has a market cap of $17.61 billion, a PE ratio of 35.99, a price-to-earnings-growth ratio of 2.40 and a beta of 0.96.

IDEX (NYSE:IEX) last issued its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $1.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.89 by $0.01. The company had revenue of $798.20 million during the quarter, compared to analysts’ expectations of $793.05 million. IDEX had a return on equity of 15.92% and a net margin of 15.35%. The business’s revenue was up .6% on a year-over-year basis. During the same period last year, the business earned $2.12 earnings per share. Analysts expect that IDEX Co. will post 7.88 EPS for the current year.

IDEX Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 17th will be issued a $0.69 dividend. This represents a $2.76 annualized dividend and a yield of 1.19%. The ex-dividend date of this dividend is Friday, January 17th. IDEX’s dividend payout ratio is 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.