IDEX Co. (NYSE:IEX) Shares Sold by MetLife Investment Management LLC

MetLife Investment Management LLC lessened its position in shares of IDEX Co. (NYSE:IEX) by 2.5% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 19,684 shares of the industrial products company’s stock after selling 505 shares during the quarter. MetLife Investment Management LLC’s holdings in IDEX were worth $4,222,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Tidal Investments LLC raised its position in IDEX by 8.8% during the first quarter. Tidal Investments LLC now owns 4,383 shares of the industrial products company’s stock worth $1,070,000 after acquiring an additional 356 shares during the last quarter. Atria Investments Inc raised its position in shares of IDEX by 4.5% during the 1st quarter. Atria Investments Inc now owns 7,599 shares of the industrial products company’s stock worth $1,854,000 after purchasing an additional 324 shares during the last quarter. Cetera Investment Advisers lifted its stake in IDEX by 301.3% in the 1st 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 in the last quarter. EverSource Wealth Advisors LLC grew its holdings in IDEX by 38.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 287 shares of the industrial products company’s stock valued at $70,000 after buying an additional 80 shares during the last quarter. Finally, First Hawaiian Bank increased its position in IDEX by 2.2% during the second quarter. First Hawaiian Bank now owns 7,410 shares of the industrial products company’s stock worth $1,491,000 after buying an additional 162 shares in the last quarter. 97.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

IEX has been the topic of several recent research reports. Robert W. Baird reduced 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. Royal Bank of Canada raised their price target on shares of IDEX from $236.00 to $248.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Stifel Nicolaus boosted their price objective on shares of IDEX from $232.00 to $244.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. TD Cowen reduced their price objective on shares of IDEX from $240.00 to $230.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Finally, Oppenheimer lowered their target price on shares of IDEX from $245.00 to $238.00 and set an “outperform” rating for the company in a research note on Monday, August 5th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, IDEX currently has an average rating of “Moderate Buy” and a consensus target price of $241.14.

IDEX Trading Down 0.2 %

Shares of IEX stock opened at $230.63 on Monday. IDEX Co. has a 1-year low of $189.51 and a 1-year high of $246.36. The firm’s 50-day simple moving average is $217.66 and its 200-day simple moving average is $208.15. The firm has a market cap of $17.46 billion, a P/E ratio of 35.70, a PEG ratio of 2.44 and a beta of 0.96. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.97 and a quick ratio of 2.11.

IDEX (NYSE:IEX) last announced its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $1.90 earnings per share for the quarter, beating analysts’ consensus estimates of $1.89 by $0.01. IDEX had a net margin of 15.35% and a return on equity of 15.92%. The company had revenue of $798.20 million for the quarter, compared to analyst estimates of $793.05 million. During the same quarter last year, the business earned $2.12 EPS. IDEX’s revenue for the quarter was up .6% on a year-over-year basis. As a group, equities analysts forecast that IDEX Co. will post 7.89 EPS for the current year.

IDEX Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 17th will be given a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date of this dividend is Friday, January 17th. IDEX’s dividend payout ratio (DPR) is presently 42.72%.

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.