Brooklyn Investment Group Purchases New Position in IDEX Co. (NYSE:IEX)

Brooklyn Investment Group acquired a new position in shares of IDEX Co. (NYSE:IEX) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 400 shares of the industrial products company’s stock, valued at approximately $86,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Tidal Investments LLC boosted its stake in IDEX by 8.8% in the first quarter. Tidal Investments LLC now owns 4,383 shares of the industrial products company’s stock valued at $1,070,000 after acquiring an additional 356 shares in the last quarter. Virtu Financial LLC acquired a new stake in shares of IDEX in the 1st quarter valued at about $469,000. Swedbank AB purchased a new position in IDEX during the 1st quarter worth approximately $11,765,000. Atria Investments Inc increased its position in IDEX by 4.5% during the first quarter. Atria Investments Inc now owns 7,599 shares of the industrial products company’s stock worth $1,854,000 after buying an additional 324 shares during the period. Finally, Cetera Investment Advisers lifted its stake in IDEX by 301.3% in the first quarter. Cetera Investment Advisers now owns 6,902 shares of the industrial products company’s stock valued at $1,684,000 after buying an additional 5,182 shares during the last quarter. Institutional investors and hedge funds own 97.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on IEX. Stifel Nicolaus increased their price target on shares of IDEX from $232.00 to $244.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Oppenheimer lowered their price target on IDEX from $245.00 to $238.00 and set an “outperform” rating on the stock in a report on Monday, August 5th. Robert W. Baird reduced their price objective on IDEX from $245.00 to $241.00 and set an “outperform” rating for the company in a research note on Thursday, October 31st. TD Cowen lowered their target price on IDEX from $240.00 to $230.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Finally, DA Davidson cut 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 equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, IDEX currently has an average rating of “Moderate Buy” and a consensus price target of $241.14.

IDEX Stock Down 0.4 %

Shares of NYSE IEX opened at $231.10 on Friday. The firm has a market cap of $17.50 billion, a P/E ratio of 35.77, 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 1 year low of $189.51 and a 1 year high of $246.36. The firm’s 50 day moving average price is $216.81 and its 200 day moving average price is $208.07.

IDEX (NYSE:IEX) last announced its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $1.90 EPS for the quarter, beating analysts’ consensus estimates of $1.89 by $0.01. IDEX had a return on equity of 15.92% and a net margin of 15.35%. The business had revenue of $798.20 million during the quarter, compared to the consensus estimate of $793.05 million. During the same quarter in the previous year, the business earned $2.12 earnings per share. The business’s revenue for the quarter was up .6% on a year-over-year basis. As a group, sell-side analysts anticipate that IDEX Co. will post 7.88 earnings per share for the current year.

IDEX Announces Dividend

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

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.