Cetera Investment Advisers Sells 212 Shares of IDEX Corporation (NYSE:IEX)

Cetera Investment Advisers trimmed its holdings in shares of IDEX Corporation (NYSE:IEX) by 4.4% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,655 shares of the industrial products company’s stock after selling 212 shares during the period. Cetera Investment Advisers’ holdings in IDEX were worth $842,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Banque de Luxembourg S.A. bought a new position in shares of IDEX in the 4th quarter worth $27,000. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of IDEX by 81.0% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 143 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 64 shares in the last quarter. UMB Bank n.a. lifted its holdings in shares of IDEX by 63.5% in the 1st quarter. UMB Bank n.a. now owns 224 shares of the industrial products company’s stock worth $41,000 after purchasing an additional 87 shares in the last quarter. Quarry LP bought a new position in shares of IDEX in the 4th quarter worth $49,000. Finally, Orion Capital Management LLC bought a new position in shares of IDEX in the 4th quarter worth $86,000. 97.96% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CFO Akhil Mahendra sold 250 shares of the firm’s stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $180.89, for a total transaction of $45,222.50. Following the completion of the sale, the chief financial officer directly owned 5,035 shares of the company’s stock, valued at $910,781.15. This trade represents a 4.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.50% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on IEX. Royal Bank Of Canada lowered their price target on IDEX from $207.00 to $200.00 and set an “outperform” rating for the company in a research report on Thursday, July 31st. Mizuho set a $185.00 price target on IDEX in a research report on Friday, May 16th. Citigroup increased their price target on IDEX from $208.00 to $216.00 and gave the company a “buy” rating in a research report on Monday, July 14th. Oppenheimer lowered their price target on IDEX from $224.00 to $212.00 and set an “outperform” rating for the company in a research report on Thursday, July 31st. Finally, Stifel Nicolaus lowered their price target on IDEX from $238.00 to $204.00 and set a “buy” rating for the company in a research report on Thursday, July 31st. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, IDEX presently has a consensus rating of “Moderate Buy” and a consensus target price of $201.71.

IDEX Trading Up 3.8%

Shares of IDEX stock opened at $169.48 on Thursday. IDEX Corporation has a 1 year low of $153.36 and a 1 year high of $238.22. The firm has a market cap of $12.76 billion, a PE ratio of 27.38, a P/E/G ratio of 1.72 and a beta of 1.04. The stock has a fifty day moving average price of $176.27 and a 200-day moving average price of $182.04. The company has a debt-to-equity ratio of 0.46, a current ratio of 3.05 and a quick ratio of 2.13.

IDEX (NYSE:IEX) last announced its earnings results on Wednesday, July 30th. The industrial products company reported $2.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.00 by $0.07. IDEX had a return on equity of 15.16% and a net margin of 14.05%. The firm had revenue of $865.40 million during the quarter, compared to analyst estimates of $858.59 million. During the same period last year, the firm posted $2.06 EPS. The business’s revenue was up 7.2% compared to the same quarter last year. Equities research analysts anticipate that IDEX Corporation will post 8.26 EPS for the current year.

IDEX Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 25th. Stockholders of record on Friday, July 11th were given a dividend of $0.71 per share. The ex-dividend date of this dividend was Friday, July 11th. This represents a $2.84 annualized dividend and a dividend yield of 1.7%. IDEX’s dividend payout ratio (DPR) is currently 45.88%.

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.