Rovin Capital UT ADV Takes $283,000 Position in IDEX Co. (NYSE:IEX)

Rovin Capital UT ADV bought a new stake in shares of IDEX Co. (NYSE:IEX) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 1,320 shares of the industrial products company’s stock, valued at approximately $283,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of IEX. Price T Rowe Associates Inc. MD boosted its position in shares of IDEX by 7.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,964,956 shares of the industrial products company’s stock valued at $1,943,609,000 after purchasing an additional 555,250 shares in the last quarter. Van ECK Associates Corp grew its position in IDEX by 9,424.6% in the third quarter. Van ECK Associates Corp now owns 1,032,277 shares of the industrial products company’s stock worth $211,473,000 after buying an additional 1,021,439 shares during the last quarter. Hsbc Holdings PLC increased its holdings in shares of IDEX by 75.6% in the second quarter. Hsbc Holdings PLC now owns 519,124 shares of the industrial products company’s stock valued at $104,179,000 after buying an additional 223,422 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of IDEX by 20.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 470,672 shares of the industrial products company’s stock valued at $94,698,000 after acquiring an additional 78,551 shares during the last quarter. Finally, Ceredex Value Advisors LLC grew its holdings in shares of IDEX by 4.8% in the 3rd quarter. Ceredex Value Advisors LLC now owns 436,550 shares of the industrial products company’s stock worth $93,640,000 after acquiring an additional 20,175 shares during the last quarter. 97.96% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on IEX. Oppenheimer dropped their price target on IDEX from $245.00 to $238.00 and set an “outperform” rating on the stock in a research note on Monday, August 5th. Royal Bank of Canada raised their target price on IDEX from $236.00 to $248.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Stifel Nicolaus upped their price target on IDEX from $232.00 to $244.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Argus lowered IDEX from a “buy” rating to a “hold” rating in a research report on Wednesday, August 14th. Finally, DA Davidson dropped their price target on shares of IDEX from $220.00 to $210.00 and set a “neutral” rating on the stock in a research note on Monday, August 5th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $241.14.

IDEX Stock Down 0.2 %

IEX opened at $228.51 on Friday. The stock has a market capitalization of $17.30 billion, a price-to-earnings ratio of 35.37, a P/E/G ratio of 2.48 and a beta of 0.96. IDEX Co. has a 1-year low of $189.33 and a 1-year high of $246.36. The business has a 50 day moving average of $209.33 and a 200-day moving average of $207.45. 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 (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 analysts’ consensus estimates of $1.89 by $0.01. IDEX had a return on equity of 15.92% and a net margin of 15.35%. The business had revenue of $798.20 million for the quarter, compared to the consensus estimate of $793.05 million. During the same period last year, the business earned $2.12 earnings per share. The firm’s revenue for the quarter was up .6% compared to the same quarter last year. As a group, sell-side analysts anticipate that IDEX Co. will post 7.88 earnings per share for the current year.

IDEX Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, October 11th were issued a $0.69 dividend. This represents a $2.76 annualized dividend and a yield of 1.21%. The ex-dividend date was Friday, October 11th. IDEX’s dividend payout ratio (DPR) is presently 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.