CHURCHILL MANAGEMENT Corp Sells 469 Shares of IDEX Co. (NYSE:IEX)

CHURCHILL MANAGEMENT Corp reduced its holdings in IDEX Co. (NYSE:IEX) by 2.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 22,083 shares of the industrial products company’s stock after selling 469 shares during the period. CHURCHILL MANAGEMENT Corp’s holdings in IDEX were worth $4,622,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Covea Finance raised its stake in IDEX by 70.6% during the 4th quarter. Covea Finance now owns 14,500 shares of the industrial products company’s stock valued at $3,035,000 after purchasing an additional 6,000 shares during the last quarter. Park Avenue Securities LLC boosted its position in shares of IDEX by 27.0% during the 4th quarter. Park Avenue Securities LLC now owns 2,330 shares of the industrial products company’s stock valued at $488,000 after acquiring an additional 495 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in IDEX by 1.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 68,860 shares of the industrial products company’s stock valued at $14,412,000 after acquiring an additional 1,210 shares during the period. CCLA Investment Management boosted its holdings in IDEX by 10.1% during the fourth quarter. CCLA Investment Management now owns 477,170 shares of the industrial products company’s stock valued at $99,924,000 after purchasing an additional 43,767 shares in the last quarter. Finally, Oak Thistle LLC acquired a new stake in IDEX in the 4th quarter valued at $297,000. 97.96% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

IDEX Stock Down 0.0 %

Shares of IEX opened at $214.44 on Thursday. The business’s fifty day moving average price is $221.20 and its two-hundred day moving average price is $210.12. The firm has a market capitalization of $16.24 billion, a price-to-earnings ratio of 33.20, a PEG ratio of 2.36 and a beta of 0.97. IDEX Co. has a 52 week low of $189.51 and a 52 week high of $246.36. 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 (NYSE:IEX) last announced 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 return on equity of 15.92% and a net margin of 15.35%. The firm had revenue of $798.20 million during the quarter, compared to analyst estimates of $793.05 million. During the same period last year, the company earned $2.12 earnings per share. The company’s revenue was up .6% on a year-over-year basis. On average, analysts predict that IDEX Co. will post 7.89 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. Shareholders of record on Friday, January 17th will be paid a $0.69 dividend. The ex-dividend date is Friday, January 17th. This represents a $2.76 dividend on an annualized basis and a yield of 1.29%. IDEX’s payout ratio is presently 42.72%.

About IDEX

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.