FORA Capital LLC Sells 6,384 Shares of IDEX Co. (NYSE:IEX)

FORA Capital LLC lowered its stake in shares of IDEX Co. (NYSE:IEX) by 64.9% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 3,453 shares of the industrial products company’s stock after selling 6,384 shares during the period. FORA Capital LLC’s holdings in IDEX were worth $741,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the company. 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 valued at $211,473,000 after acquiring an additional 1,021,439 shares during the period. Champlain Investment Partners LLC boosted its holdings in IDEX by 28.8% in 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 last quarter. Hsbc Holdings PLC raised its stake in shares of IDEX by 75.6% during the second quarter. Hsbc Holdings PLC now owns 519,124 shares of the industrial products company’s stock worth $104,179,000 after buying an additional 223,422 shares during the last quarter. D. E. Shaw & Co. Inc. boosted its stake in IDEX by 247.0% in the second quarter. D. E. Shaw & Co. Inc. now owns 198,170 shares of the industrial products company’s stock valued at $39,872,000 after acquiring an additional 141,064 shares during the last quarter. Finally, Millennium Management LLC grew its holdings in IDEX by 1,541.6% during the 2nd quarter. Millennium Management LLC now owns 138,744 shares of the industrial products company’s stock worth $27,915,000 after acquiring an additional 130,292 shares during the period. Institutional investors own 97.96% of the company’s stock.

IDEX Stock Performance

Shares of IEX stock opened at $231.10 on Friday. The company has a market capitalization of $17.50 billion, a price-to-earnings ratio of 35.77, a PEG ratio of 2.50 and a beta of 0.96. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.11 and a current ratio of 2.97. IDEX Co. has a 52 week low of $189.51 and a 52 week high of $246.36. The company has a 50-day simple moving average of $216.81 and a 200 day simple moving average of $208.07.

IDEX (NYSE:IEX) last released 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. IDEX had a return on equity of 15.92% and a net margin of 15.35%. The company had revenue of $798.20 million for the quarter, compared to analyst estimates of $793.05 million. IDEX’s quarterly revenue was up .6% on a year-over-year basis. During the same period in the prior year, the firm posted $2.12 EPS. On average, sell-side analysts predict that IDEX Co. will post 7.88 earnings per share for the current year.

IDEX Announces Dividend

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 (DPR) is presently 42.72%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Robert W. Baird decreased their price objective on IDEX from $245.00 to $241.00 and set an “outperform” rating for the company in a research note on Thursday, October 31st. TD Cowen decreased their target price on IDEX from $240.00 to $230.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Argus lowered shares of IDEX from a “buy” rating to a “hold” rating in a research note on Wednesday, August 14th. DA Davidson lowered their target price on shares of IDEX from $220.00 to $210.00 and set a “neutral” rating for the company in a research note on Monday, August 5th. Finally, Royal Bank of Canada lifted their price target on shares of IDEX from $236.00 to $248.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, IDEX presently has an average rating of “Moderate Buy” and an average target price 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.