Geneva Capital Management LLC Sells 3,699 Shares of IDEX Co. (NYSE:IEX)

Geneva Capital Management LLC lowered its position in shares of IDEX Co. (NYSE:IEX) by 2.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 123,025 shares of the industrial products company’s stock after selling 3,699 shares during the period. Geneva Capital Management LLC owned approximately 0.16% of IDEX worth $26,389,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Catalyst Capital Advisors LLC raised its stake in shares of IDEX by 73.8% in the third quarter. Catalyst Capital Advisors LLC now owns 139 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 59 shares during the last quarter. Assetmark Inc. bought a new position in IDEX during the 3rd quarter valued at about $39,000. EdgeRock Capital LLC purchased a new position in shares of IDEX during the second quarter valued at approximately $41,000. Whittier Trust Co. lifted its position in IDEX by 38.4% during the second quarter. Whittier Trust Co. now owns 209 shares of the industrial products company’s stock valued at $42,000 after purchasing an additional 58 shares during the period. Finally, Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in IDEX by 100.0% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 200 shares of the industrial products company’s stock worth $43,000 after purchasing an additional 100 shares during the last quarter. 97.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Royal Bank of Canada raised their price target on IDEX from $236.00 to $248.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Robert W. Baird cut their price target on IDEX from $245.00 to $241.00 and set an “outperform” rating for the company in a research note on Thursday, October 31st. Argus cut shares of IDEX from a “buy” rating to a “hold” rating in a research note on Wednesday, August 14th. Stifel Nicolaus increased their price target on shares of IDEX from $232.00 to $244.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Finally, TD Cowen cut their price objective on shares of IDEX from $240.00 to $230.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $241.14.

IDEX Stock Performance

Shares of NYSE IEX opened at $227.97 on Wednesday. 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 Co. has a 1 year low of $189.51 and a 1 year high of $246.36. The firm has a fifty day moving average price of $210.29 and a 200-day moving average price of $207.42. The stock has a market cap of $17.26 billion, a PE ratio of 35.29, a price-to-earnings-growth ratio of 2.42 and a beta of 0.96.

IDEX (NYSE:IEX) last announced its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $1.90 EPS for the quarter, beating the consensus estimate of $1.89 by $0.01. The business had revenue of $798.20 million for the quarter, compared to the consensus estimate of $793.05 million. IDEX had a return on equity of 15.92% and a net margin of 15.35%. The business’s revenue was up .6% on a year-over-year basis. During the same period in the previous year, the business earned $2.12 earnings per share. Equities analysts anticipate that IDEX Co. will post 7.88 earnings per share for the current fiscal year.

IDEX Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Friday, October 11th were given a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a dividend yield of 1.21%. The ex-dividend date was Friday, October 11th. IDEX’s payout ratio is currently 42.72%.

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.