Quest Partners LLC Sells 13,862 Shares of IDEX Co. (NYSE:IEX)

Quest Partners LLC decreased its position in IDEX Co. (NYSE:IEX) by 78.1% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 3,896 shares of the industrial products company’s stock after selling 13,862 shares during the period. Quest Partners LLC’s holdings in IDEX were worth $836,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. O Shaughnessy Asset Management LLC increased its stake in shares of IDEX by 33.4% during the first quarter. O Shaughnessy Asset Management LLC now owns 2,752 shares of the industrial products company’s stock valued at $672,000 after buying an additional 689 shares during the period. Bessemer Group Inc. increased its position in IDEX by 7.5% during the 1st quarter. Bessemer Group Inc. now owns 1,179 shares of the industrial products company’s stock valued at $287,000 after purchasing an additional 82 shares during the period. Lake Street Advisors Group LLC bought a new position in IDEX in the 1st quarter worth $243,000. CANADA LIFE ASSURANCE Co boosted its stake in shares of IDEX by 2.3% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 54,449 shares of the industrial products company’s stock valued at $13,294,000 after purchasing an additional 1,229 shares in the last quarter. Finally, Natixis increased its position in shares of IDEX by 734.5% during the first quarter. Natixis now owns 943 shares of the industrial products company’s stock valued at $230,000 after buying an additional 830 shares during the period. Institutional investors own 97.96% of the company’s stock.

Analyst Upgrades and Downgrades

IEX has been the subject of several research analyst reports. Robert W. Baird lowered 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. Oppenheimer lowered their target price on IDEX from $245.00 to $238.00 and set an “outperform” rating for the company in a research note on Monday, August 5th. Stifel Nicolaus upped their price target on IDEX from $232.00 to $244.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Argus lowered IDEX from a “buy” rating to a “hold” rating in a research report on Wednesday, August 14th. Finally, TD Cowen dropped their target price 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. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, IDEX presently has a consensus rating of “Moderate Buy” and an average price target of $241.14.

IDEX Price Performance

IEX opened at $227.50 on Friday. IDEX Co. has a 1 year low of $189.51 and a 1 year high of $246.36. The stock has a 50-day moving average price of $214.43 and a 200-day moving average price of $207.89. The firm has a market cap of $17.23 billion, a PE ratio of 35.22, a P/E/G ratio of 2.36 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 issued its earnings results on Tuesday, October 29th. The industrial products company reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.01. The firm had revenue of $798.20 million for 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 business’s revenue was up .6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.12 earnings per share. Sell-side analysts predict that IDEX Co. will post 7.88 earnings per share for the current fiscal year.

IDEX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 17th will be paid a $0.69 dividend. This represents a $2.76 annualized dividend and a dividend yield of 1.21%. The ex-dividend date of this dividend is Friday, January 17th. IDEX’s dividend payout ratio is currently 42.72%.

IDEX Company 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.