IDEX Co. (NYSE:IEX) Shares Sold by Boston Financial Mangement LLC

Boston Financial Mangement LLC cut its stake in shares of IDEX Co. (NYSE:IEX) by 7.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 44,511 shares of the industrial products company’s stock after selling 3,507 shares during the quarter. Boston Financial Mangement LLC’s holdings in IDEX were worth $8,956,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Price T Rowe Associates Inc. MD raised its stake in shares of IDEX by 7.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,964,956 shares of the industrial products company’s stock worth $1,943,609,000 after buying an additional 555,250 shares during the last quarter. Norges Bank purchased a new stake in shares of IDEX in the fourth quarter valued at about $237,425,000. Charles Schwab Investment Management Inc. grew its position in shares of IDEX by 2.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 608,744 shares of the industrial products company’s stock valued at $132,164,000 after purchasing an additional 15,202 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of IDEX by 19.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 492,810 shares of the industrial products company’s stock worth $106,994,000 after purchasing an additional 81,780 shares during the last quarter. Finally, Fisher Asset Management LLC lifted its stake in IDEX by 3.8% in the 4th quarter. Fisher Asset Management LLC now owns 429,047 shares of the industrial products company’s stock valued at $93,150,000 after buying an additional 15,659 shares in the last quarter. Hedge funds and other institutional investors own 97.96% of the company’s stock.

IDEX Trading Up 0.6 %

IEX stock traded up $1.30 on Friday, hitting $206.48. 418,732 shares of the company were exchanged, compared to its average volume of 440,299. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.41 and a quick ratio of 2.45. The stock has a market capitalization of $15.63 billion, a price-to-earnings ratio of 27.17, a price-to-earnings-growth ratio of 2.08 and a beta of 0.95. IDEX Co. has a twelve month low of $183.76 and a twelve month high of $246.36. The business’s fifty day moving average is $200.15 and its two-hundred day moving average is $217.05.

IDEX (NYSE:IEX) last announced its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $2.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.04 by $0.02. The company had revenue of $807.20 million during the quarter, compared to analysts’ expectations of $828.15 million. IDEX had a net margin of 18.19% and a return on equity of 16.87%. The business’s quarterly revenue was down 4.6% compared to the same quarter last year. During the same period in the previous year, the company earned $2.18 EPS. As a group, research analysts forecast that IDEX Co. will post 7.85 earnings per share for the current year.

IDEX Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 26th. Stockholders of record on Friday, July 12th were issued a $0.69 dividend. The ex-dividend date of this dividend was Friday, July 12th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.34%. IDEX’s dividend payout ratio (DPR) is 36.32%.

Analyst Ratings Changes

A number of analysts recently commented on the company. Royal Bank of Canada decreased their price objective on IDEX from $250.00 to $236.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. DA Davidson decreased their price target on shares of IDEX from $220.00 to $210.00 and set a “neutral” rating on the stock in a research note on Monday, August 5th. TD Cowen cut their price objective on shares of IDEX from $240.00 to $230.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Robert W. Baird decreased their target price on shares of IDEX from $256.00 to $241.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. Finally, Argus downgraded IDEX from a “buy” rating to a “hold” rating in a report on Wednesday, August 14th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, IDEX currently has an average rating of “Moderate Buy” and an average target price of $233.50.

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.