Rovin Capital UT ADV Sells 62 Shares of IDEX Co. (NYSE:IEX)

Rovin Capital UT ADV lowered its position in shares of IDEX Co. (NYSE:IEX) by 4.7% in the fourth quarter, HoldingsChannel reports. The fund owned 1,258 shares of the industrial products company’s stock after selling 62 shares during the period. Rovin Capital UT ADV’s holdings in IDEX were worth $263,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in IEX. Catalyst Capital Advisors LLC increased its holdings 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 acquiring an additional 59 shares in the last quarter. Assetmark Inc. acquired a new position in IDEX in the 3rd quarter worth $39,000. Livforsakringsbolaget Skandia Omsesidigt increased its holdings in IDEX by 100.0% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 200 shares of the industrial products company’s stock worth $43,000 after purchasing an additional 100 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of IDEX by 19.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 344 shares of the industrial products company’s stock valued at $72,000 after purchasing an additional 57 shares during the period. Finally, Brooklyn Investment Group bought a new stake in shares of IDEX in the third quarter valued at about $86,000. Institutional investors and hedge funds own 97.96% of the company’s stock.

IDEX Stock Up 1.4 %

Shares of IEX stock opened at $217.63 on Friday. IDEX Co. has a 52-week low of $189.51 and a 52-week high of $246.36. The stock has a market cap of $16.48 billion, a price-to-earnings ratio of 33.69, a PEG ratio of 2.03 and a beta of 0.97. The firm’s 50-day moving average is $220.79 and its 200-day moving average is $210.15. 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 released its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $1.90 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $798.20 million for the quarter, compared to analyst estimates of $793.05 million. During the same quarter in the prior year, the company earned $2.12 earnings per share. The business’s revenue for the quarter was up .6% compared to the same quarter last year. Sell-side analysts predict that IDEX Co. will post 7.89 EPS for the current year.

IDEX Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 17th will be issued a $0.69 dividend. The ex-dividend date is Friday, January 17th. This represents a $2.76 annualized dividend and a dividend yield of 1.27%. IDEX’s dividend payout ratio is currently 42.72%.

Analyst Ratings Changes

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

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.