GHP Investment Advisors Inc. Reduces Holdings in IDEX Co. (NYSE:IEX)

GHP Investment Advisors Inc. reduced its position in IDEX Co. (NYSE:IEX) by 4.7% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 18,228 shares of the industrial products company’s stock after selling 897 shares during the period. GHP Investment Advisors Inc.’s holdings in IDEX were worth $3,910,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD lifted its stake in IDEX by 7.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 7,964,956 shares of the industrial products company’s stock valued at $1,943,609,000 after buying an additional 555,250 shares during the last quarter. Hsbc Holdings PLC raised its position in IDEX by 75.6% in the 2nd quarter. Hsbc Holdings PLC now owns 519,124 shares of the industrial products company’s stock valued at $104,179,000 after purchasing an additional 223,422 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in IDEX by 20.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 470,672 shares of the industrial products company’s stock worth $94,698,000 after purchasing an additional 78,551 shares during the period. CCLA Investment Management grew its position in IDEX by 1.8% during the 2nd quarter. CCLA Investment Management now owns 433,403 shares of the industrial products company’s stock worth $86,697,000 after purchasing an additional 7,615 shares during the last quarter. Finally, Ceredex Value Advisors LLC increased its stake in IDEX by 25.8% in the second quarter. Ceredex Value Advisors LLC now owns 416,375 shares of the industrial products company’s stock valued at $83,775,000 after purchasing an additional 85,434 shares during the period. 97.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

IEX has been the subject of several recent research reports. Argus downgraded shares of IDEX from a “buy” rating to a “hold” rating in a research note on Wednesday, August 14th. Stifel Nicolaus lifted their target price on IDEX from $232.00 to $244.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Robert W. Baird cut their price target on IDEX from $256.00 to $241.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. StockNews.com lowered shares of IDEX from a “buy” rating to a “hold” rating in a research report on Thursday, July 11th. Finally, DA Davidson dropped their price objective 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. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $239.43.

IDEX Trading Down 0.3 %

Shares of IEX stock opened at $202.82 on Friday. The business’s fifty day moving average price is $205.96 and its 200 day moving average price is $208.24. The firm has a market capitalization of $15.35 billion, a PE ratio of 26.55, a P/E/G ratio of 2.20 and a beta of 0.95. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.41 and a quick ratio of 2.52. IDEX Co. has a 1-year low of $183.76 and a 1-year high of $246.36.

IDEX (NYSE:IEX) last posted its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $2.06 earnings per share for the quarter, topping analysts’ consensus estimates of $2.04 by $0.02. The business had revenue of $807.20 million for 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 revenue for the quarter was down 4.6% on a year-over-year basis. During the same period in the prior year, the company posted $2.18 EPS. As a group, sell-side analysts forecast that IDEX Co. will post 7.87 EPS for the current fiscal year.

IDEX Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Friday, October 11th were paid a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a dividend yield of 1.36%. The ex-dividend date was Friday, October 11th. IDEX’s dividend payout ratio (DPR) is 36.13%.

About IDEX

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.