Heartland Bank & Trust Co Sells 119 Shares of IDEX Co. (NYSE:IEX)

Heartland Bank & Trust Co lowered its stake in shares of IDEX Co. (NYSE:IEX) by 6.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,653 shares of the industrial products company’s stock after selling 119 shares during the quarter. Heartland Bank & Trust Co’s holdings in IDEX were worth $355,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. UMB Bank n.a. raised its position in shares of IDEX by 31.0% in the 2nd quarter. UMB Bank n.a. now owns 241 shares of the industrial products company’s stock valued at $48,000 after acquiring an additional 57 shares during the period. EverSource Wealth Advisors LLC grew its stake in shares of IDEX by 19.9% in the second quarter. EverSource Wealth Advisors LLC now owns 344 shares of the industrial products company’s stock valued at $72,000 after buying an additional 57 shares in the last quarter. Whittier Trust Co. grew its stake in shares of IDEX by 38.4% in the second quarter. Whittier Trust Co. now owns 209 shares of the industrial products company’s stock valued at $42,000 after buying an additional 58 shares in the last quarter. Oregon Public Employees Retirement Fund grew its stake in shares of IDEX by 1.0% in the second quarter. Oregon Public Employees Retirement Fund now owns 6,476 shares of the industrial products company’s stock valued at $1,303,000 after buying an additional 61 shares in the last quarter. Finally, Checchi Capital Advisers LLC grew its stake in shares of IDEX by 5.1% in the second quarter. Checchi Capital Advisers LLC now owns 1,385 shares of the industrial products company’s stock valued at $279,000 after buying an additional 67 shares in the last quarter. Institutional investors own 97.96% of the company’s stock.

Analyst Ratings Changes

IEX has been the subject of a number of research analyst reports. Royal Bank of Canada reduced their price objective on shares of IDEX from $250.00 to $236.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Oppenheimer dropped their target price on IDEX from $245.00 to $238.00 and set an “outperform” rating for the company in a report on Monday, August 5th. Stifel Nicolaus lifted their target price on IDEX from $232.00 to $244.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. StockNews.com downgraded IDEX from a “buy” rating to a “hold” rating in a research note on Thursday, July 11th. Finally, DA Davidson dropped their price target 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 issued a buy rating to the company. Based on data from MarketBeat.com, IDEX presently has a consensus rating of “Moderate Buy” and a consensus target price of $239.43.

IDEX Stock Performance

NYSE:IEX opened at $204.86 on Thursday. The stock has a market cap of $15.51 billion, a P/E ratio of 26.96, a price-to-earnings-growth ratio of 2.20 and a beta of 0.95. The company has a current ratio of 3.41, a quick ratio of 2.52 and a debt-to-equity ratio of 0.36. The stock’s 50-day moving average is $205.67 and its 200-day moving average is $208.76. IDEX Co. has a 1-year low of $183.76 and a 1-year high of $246.36.

IDEX (NYSE:IEX) last released its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $2.06 earnings per share for the quarter, topping the consensus estimate of $2.04 by $0.02. The company had revenue of $807.20 million for the quarter, compared to analysts’ expectations of $828.15 million. IDEX had a return on equity of 16.87% and a net margin of 18.19%. 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 business posted $2.18 earnings per share. Equities research analysts anticipate that IDEX Co. will post 7.88 earnings per share for the current year.

IDEX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, October 11th will be issued a $0.69 dividend. This represents a $2.76 annualized dividend and a yield of 1.35%. The ex-dividend date of this dividend is Friday, October 11th. IDEX’s payout ratio is presently 36.32%.

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.