IDEX Co. (NYSE:IEX) Holdings Reduced by Westfield Capital Management Co. LP

Westfield Capital Management Co. LP cut its holdings in shares of IDEX Co. (NYSE:IEX) by 8.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 356,158 shares of the industrial products company’s stock after selling 34,982 shares during the period. Westfield Capital Management Co. LP owned approximately 0.47% of IDEX worth $76,396,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. O Shaughnessy Asset Management LLC grew its stake in shares of IDEX by 33.4% in the first quarter. O Shaughnessy Asset Management LLC now owns 2,752 shares of the industrial products company’s stock worth $672,000 after purchasing an additional 689 shares in the last quarter. Bessemer Group Inc. grew its position in IDEX by 7.5% in the 1st quarter. Bessemer Group Inc. now owns 1,179 shares of the industrial products company’s stock valued at $287,000 after buying an additional 82 shares in the last quarter. Natixis raised its position in shares of IDEX by 734.5% during the 1st quarter. Natixis now owns 943 shares of the industrial products company’s stock worth $230,000 after buying an additional 830 shares in the last quarter. Paloma Partners Management Co acquired a new stake in shares of IDEX in the 1st quarter worth approximately $272,000. Finally, Silvercrest Asset Management Group LLC lifted its stake in shares of IDEX by 14.3% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 12,983 shares of the industrial products company’s stock worth $3,168,000 after acquiring an additional 1,629 shares during the period. 97.96% of the stock is owned by institutional investors.

IDEX Price Performance

IEX stock opened at $232.50 on Friday. The firm has a 50-day moving average of $215.08 and a two-hundred day moving average of $207.87. The firm has a market capitalization of $17.61 billion, a PE ratio of 35.99, a P/E/G ratio of 2.40 and a beta of 0.96. 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 one year low of $189.51 and a one year high of $246.36.

IDEX (NYSE:IEX) last posted its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $1.90 EPS for the quarter, topping 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 firm had revenue of $798.20 million during the quarter, compared to analyst estimates of $793.05 million. During the same quarter last year, the business posted $2.12 EPS. The company’s revenue was up .6% on a year-over-year basis. On average, analysts forecast that IDEX Co. will post 7.88 earnings per share for the current year.

IDEX Dividend Announcement

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 $0.69 dividend. This represents a $2.76 annualized dividend and a yield of 1.19%. The ex-dividend date is Friday, January 17th. IDEX’s dividend payout ratio is currently 42.72%.

Analysts Set New Price Targets

Several equities research analysts recently commented on IEX shares. TD Cowen dropped their target price on IDEX from $240.00 to $230.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. DA Davidson cut their price objective on IDEX from $220.00 to $210.00 and set a “neutral” rating for the company in a report on Monday, August 5th. Argus lowered IDEX from a “buy” rating to a “hold” rating in a report on Wednesday, August 14th. Royal Bank of Canada upped their price target on shares of IDEX from $236.00 to $248.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Finally, Oppenheimer lowered their price objective 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. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $241.14.

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.