Apollon Wealth Management LLC Has $1.28 Million Position in IDEX Co. (NYSE:IEX)

Apollon Wealth Management LLC grew its holdings in IDEX Co. (NYSE:IEX) by 7.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,979 shares of the industrial products company’s stock after purchasing an additional 399 shares during the quarter. Apollon Wealth Management LLC’s holdings in IDEX were worth $1,283,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in IEX. Van ECK Associates Corp lifted its stake in shares of IDEX by 9,424.6% in the 3rd quarter. Van ECK Associates Corp now owns 1,032,277 shares of the industrial products company’s stock valued at $211,473,000 after purchasing an additional 1,021,439 shares during the period. Price T Rowe Associates Inc. MD increased its position in IDEX by 7.5% in 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 buying an additional 555,250 shares in the last quarter. Hsbc Holdings PLC increased its position in IDEX by 75.6% in the 2nd 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. D. E. Shaw & Co. Inc. increased its position in IDEX by 247.0% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 198,170 shares of the industrial products company’s stock valued at $39,872,000 after buying an additional 141,064 shares in the last quarter. Finally, Millennium Management LLC increased its position in IDEX by 1,541.6% in the 2nd quarter. Millennium Management LLC now owns 138,744 shares of the industrial products company’s stock valued at $27,915,000 after buying an additional 130,292 shares in the last quarter. 97.96% of the stock is owned by institutional investors and hedge funds.

IDEX Stock Performance

IEX stock opened at $229.39 on Friday. The firm has a market cap of $17.37 billion, a PE ratio of 35.51, a P/E/G ratio of 2.41 and a beta of 0.96. The company has a quick ratio of 2.11, a current ratio of 2.97 and a debt-to-equity ratio of 0.54. The business has a 50 day moving average of $211.55 and a 200-day moving average of $207.74. IDEX Co. has a 12-month low of $189.51 and a 12-month high of $246.36.

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, 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 company had revenue of $798.20 million during the quarter, compared to analyst estimates of $793.05 million. During the same period in the prior year, the company posted $2.12 earnings per share. IDEX’s quarterly revenue was up .6% on a year-over-year basis. As a group, sell-side analysts expect that IDEX Co. will post 7.88 earnings per share for the current year.

IDEX Dividend Announcement

The company 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. The ex-dividend date is Friday, January 17th. This represents a $2.76 annualized dividend and a yield of 1.20%. IDEX’s payout ratio is 42.72%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Stifel Nicolaus boosted their target price on IDEX from $232.00 to $244.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. DA Davidson decreased their target price on IDEX from $220.00 to $210.00 and set a “neutral” rating for the company in a research report on Monday, August 5th. 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 report on Thursday, October 31st. Argus lowered IDEX from a “buy” rating to a “hold” rating in a report on Wednesday, August 14th. Finally, Royal Bank of Canada boosted their price objective on IDEX from $236.00 to $248.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock 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.