Pathstone Holdings LLC Sells 332 Shares of IDEX Co. (NYSE:IEX)

Pathstone Holdings LLC decreased its holdings in IDEX Co. (NYSE:IEX) by 3.7% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 8,577 shares of the industrial products company’s stock after selling 332 shares during the quarter. Pathstone Holdings LLC’s holdings in IDEX were worth $1,840,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in IEX. Tidal Investments LLC grew its position in IDEX by 8.8% during the first quarter. Tidal Investments LLC now owns 4,383 shares of the industrial products company’s stock worth $1,070,000 after buying an additional 356 shares in the last quarter. Comerica Bank grew its position in IDEX by 0.3% during the first quarter. Comerica Bank now owns 74,095 shares of the industrial products company’s stock worth $18,081,000 after buying an additional 248 shares in the last quarter. Wahed Invest LLC grew its position in IDEX by 14.9% during the first quarter. Wahed Invest LLC now owns 1,481 shares of the industrial products company’s stock worth $361,000 after buying an additional 192 shares in the last quarter. Virtu Financial LLC acquired a new stake in IDEX during the first quarter worth approximately $469,000. Finally, Swedbank AB acquired a new stake in IDEX during the first quarter worth approximately $11,765,000. Institutional investors and hedge funds own 97.96% of the company’s stock.

IDEX Price Performance

IEX stock opened at $231.10 on Thursday. The company has a market capitalization of $17.50 billion, a P/E ratio of 35.61, a price-to-earnings-growth ratio of 2.50 and a beta of 0.96. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.11 and a current ratio of 2.97. IDEX Co. has a 52-week low of $189.51 and a 52-week high of $246.36. The business has a 50-day simple moving average of $216.30 and a two-hundred day simple moving average of $207.90.

IDEX (NYSE:IEX) last posted its earnings results on Tuesday, October 29th. The industrial products company reported $1.90 EPS for the quarter, topping 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 firm earned $2.12 EPS. The company’s quarterly revenue was up .6% compared to the same quarter last year. Research analysts expect that IDEX Co. will post 7.88 EPS for the current fiscal year.

IDEX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 17th will be given a dividend of $0.69 per share. The ex-dividend date of this dividend is Friday, January 17th. This represents a $2.76 annualized dividend and a dividend yield of 1.19%. IDEX’s dividend payout ratio is currently 42.72%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on IEX. Royal Bank of Canada increased their price target on IDEX from $236.00 to $248.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. 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. 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. Robert W. Baird cut their target price on IDEX from $245.00 to $241.00 and set an “outperform” rating for the company in a research note on Thursday, October 31st. Finally, DA Davidson cut their target price on IDEX from $220.00 to $210.00 and set a “neutral” rating for the company in a research note on Monday, August 5th. Three 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, the stock has an average rating of “Moderate Buy” and an average target price of $241.14.

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.