Rovin Capital UT ADV Sells 62 Shares of IDEX Co. (NYSE:IEX)

Rovin Capital UT ADV trimmed its holdings in IDEX Co. (NYSE:IEX) by 4.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,258 shares of the industrial products company’s stock after selling 62 shares during the quarter. Rovin Capital UT ADV’s holdings in IDEX were worth $263,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of IEX. State Street Corp grew its position in IDEX by 0.5% in the 3rd quarter. State Street Corp now owns 3,017,976 shares of the industrial products company’s stock worth $647,356,000 after purchasing an additional 15,077 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of IDEX by 108.4% in the third quarter. Wellington Management Group LLP now owns 2,830,929 shares of the industrial products company’s stock valued at $607,234,000 after buying an additional 1,472,456 shares during the period. Geode Capital Management LLC grew its position in IDEX by 1.3% during the third quarter. Geode Capital Management LLC now owns 1,891,175 shares of the industrial products company’s stock worth $404,339,000 after buying an additional 23,388 shares in the last quarter. Champlain Investment Partners LLC increased its stake in IDEX by 28.8% during the third quarter. Champlain Investment Partners LLC now owns 1,223,676 shares of the industrial products company’s stock valued at $262,479,000 after acquiring an additional 273,460 shares during the period. Finally, Barclays PLC raised its holdings in IDEX by 1.2% in the 3rd quarter. Barclays PLC now owns 1,177,645 shares of the industrial products company’s stock valued at $252,603,000 after acquiring an additional 14,360 shares in the last quarter. Institutional investors and hedge funds own 97.96% of the company’s stock.

IDEX Price Performance

Shares of IDEX stock opened at $217.63 on Friday. The stock has a market capitalization of $16.48 billion, a price-to-earnings ratio of 33.69, a P/E/G ratio of 2.03 and a beta of 0.97. The firm’s 50-day moving average price is $220.79 and its two-hundred day moving average price is $210.15. 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 1-year low of $189.51 and a 1-year high of $246.36.

IDEX (NYSE:IEX) last released its quarterly earnings results 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. The business had revenue of $798.20 million for the quarter, compared to analyst estimates of $793.05 million. IDEX had a return on equity of 15.92% and a net margin of 15.35%. IDEX’s revenue for the quarter was up .6% on a year-over-year basis. During the same period in the prior year, the company earned $2.12 EPS. On average, equities analysts predict that IDEX Co. will post 7.89 earnings per share for the current fiscal year.

IDEX Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 17th will be given a dividend of $0.69 per share. The ex-dividend date is Friday, January 17th. This represents a $2.76 annualized dividend and a yield of 1.27%. IDEX’s dividend payout ratio (DPR) is 42.72%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Royal Bank of Canada boosted their price objective on IDEX from $248.00 to $258.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. Stifel Nicolaus boosted their price target on shares of IDEX from $244.00 to $256.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Robert W. Baird reduced their price objective on shares of IDEX from $245.00 to $241.00 and set an “outperform” rating for the company in a report on Thursday, October 31st. Finally, Citigroup lowered their target price on shares of IDEX from $269.00 to $267.00 and set a “buy” rating on the stock in a research note on Monday. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $242.86.

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.