Prospera Private Wealth LLC Purchases Shares of 7,571 IDEX Co. (NYSE:IEX)

Prospera Private Wealth LLC acquired a new position in shares of IDEX Co. (NYSE:IEX) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor acquired 7,571 shares of the industrial products company’s stock, valued at approximately $1,624,000.

Other hedge funds have also modified their holdings of the company. Catalyst Capital Advisors LLC boosted its holdings in shares of IDEX by 73.8% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 139 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 59 shares during the last quarter. Assetmark Inc. purchased a new stake in IDEX during the third quarter valued at about $39,000. EdgeRock Capital LLC acquired a new stake in IDEX during the second quarter worth about $41,000. Whittier Trust Co. raised its holdings in shares of IDEX by 38.4% in the 2nd quarter. Whittier Trust Co. now owns 209 shares of the industrial products company’s stock worth $42,000 after purchasing an additional 58 shares during the period. Finally, Livforsakringsbolaget Skandia Omsesidigt lifted its stake in shares of IDEX by 100.0% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 200 shares of the industrial products company’s stock valued at $43,000 after purchasing an additional 100 shares in the last quarter. 97.96% of the stock is owned by institutional investors and hedge funds.

IDEX Stock Performance

IDEX stock opened at $223.61 on Wednesday. The stock has a market cap of $16.93 billion, a P/E ratio of 34.61, a price-to-earnings-growth ratio of 2.41 and a beta of 0.96. The stock has a 50 day moving average of $213.32 and a 200-day moving average of $207.65. The company has a current ratio of 2.97, a quick ratio of 2.11 and a debt-to-equity ratio of 0.54. IDEX Co. has a 52 week low of $189.51 and a 52 week high of $246.36.

IDEX (NYSE:IEX) last released its earnings results on Tuesday, October 29th. The industrial products company reported $1.90 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.01. The company had revenue of $798.20 million during the quarter, compared to the consensus estimate of $793.05 million. IDEX had a net margin of 15.35% and a return on equity of 15.92%. The company’s revenue was up .6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.12 EPS. On average, analysts expect that IDEX Co. will post 7.88 EPS for the current fiscal year.

IDEX Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 17th will be paid a dividend of $0.69 per share. The ex-dividend date of this dividend is Friday, January 17th. This represents a $2.76 annualized dividend and a yield of 1.23%. IDEX’s dividend payout ratio (DPR) is 42.72%.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. TD Cowen cut their price target on shares of IDEX from $240.00 to $230.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Oppenheimer cut their target price on shares of IDEX from $245.00 to $238.00 and set an “outperform” rating on the stock in a research note on Monday, August 5th. Stifel Nicolaus upped their price target on shares of IDEX from $232.00 to $244.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Robert W. Baird cut their price objective on IDEX from $245.00 to $241.00 and set an “outperform” rating on the stock in a research report on Thursday, October 31st. Finally, Argus downgraded IDEX from a “buy” rating to a “hold” rating in a research report on Wednesday, August 14th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $241.14.

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.