Massachusetts Financial Services Co. MA Reduces Holdings in IDEX Co. (NYSE:IEX)

Massachusetts Financial Services Co. MA lessened its holdings in IDEX Co. (NYSE:IEX) by 70.0% during the 3rd quarter, Holdings Channel reports. The firm owned 7,590 shares of the industrial products company’s stock after selling 17,704 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in IDEX were worth $1,628,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Van ECK Associates Corp lifted its stake in IDEX by 9,424.6% in the 3rd quarter. Van ECK Associates Corp now owns 1,032,277 shares of the industrial products company’s stock valued at $211,473,000 after buying an additional 1,021,439 shares in the last quarter. King Luther Capital Management Corp raised its holdings in shares of IDEX by 16.2% in the third quarter. King Luther Capital Management Corp now owns 742,724 shares of the industrial products company’s stock worth $159,314,000 after acquiring an additional 103,432 shares during the last quarter. Hsbc Holdings PLC lifted its position in shares of IDEX by 75.6% in the second quarter. Hsbc Holdings PLC now owns 519,124 shares of the industrial products company’s stock valued at $104,179,000 after acquiring an additional 223,422 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of IDEX by 20.0% during the second quarter. Dimensional Fund Advisors LP now owns 470,672 shares of the industrial products company’s stock valued at $94,698,000 after acquiring an additional 78,551 shares during the last quarter. Finally, Ceredex Value Advisors LLC increased its position in IDEX by 4.8% during the 3rd quarter. Ceredex Value Advisors LLC now owns 436,550 shares of the industrial products company’s stock worth $93,640,000 after purchasing an additional 20,175 shares in the last quarter. 97.96% of the stock is currently owned by institutional investors and hedge funds.

IDEX Trading Down 0.4 %

IEX stock opened at $231.10 on Thursday. IDEX Co. has a 52 week low of $189.51 and a 52 week high of $246.36. The company has a market cap of $17.50 billion, a price-to-earnings ratio of 35.77, a PEG ratio of 2.50 and a beta of 0.96. 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 business has a fifty day simple moving average of $216.30 and a 200-day simple moving average of $207.90.

IDEX (NYSE:IEX) last released its quarterly earnings data 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. The business had revenue of $798.20 million for the quarter, compared to analyst estimates of $793.05 million. IDEX had a return on equity of 15.92% and a net margin of 15.35%. The company’s revenue was up .6% compared to the same quarter last year. During the same period in the previous year, the company posted $2.12 EPS. On average, equities research analysts expect that IDEX Co. will post 7.88 EPS for the current year.

IDEX Announces Dividend

The firm 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 $0.69 dividend. This represents a $2.76 annualized dividend and a dividend yield of 1.19%. The ex-dividend date is Friday, January 17th. IDEX’s payout ratio is currently 42.72%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Stifel Nicolaus upped their target price on shares of IDEX from $232.00 to $244.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. TD Cowen decreased their target price on shares of IDEX from $240.00 to $230.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. DA Davidson cut their price target on IDEX from $220.00 to $210.00 and set a “neutral” rating for the company in a report on Monday, August 5th. Robert W. Baird decreased their price objective on IDEX from $245.00 to $241.00 and set an “outperform” rating on the stock in a report on Thursday, October 31st. Finally, Oppenheimer dropped 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. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $241.14.

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.