Avior Wealth Management LLC Grows Position in IDEX Co. (NYSE:IEX)

Avior Wealth Management LLC grew its stake in shares of IDEX Co. (NYSE:IEX) by 3.1% during the 3rd quarter, Holdings Channel.com reports. The firm owned 2,463 shares of the industrial products company’s stock after acquiring an additional 73 shares during the period. Avior Wealth Management LLC’s holdings in IDEX were worth $528,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Van ECK Associates Corp boosted its holdings in IDEX by 9,424.6% during the third quarter. Van ECK Associates Corp now owns 1,032,277 shares of the industrial products company’s stock worth $211,473,000 after buying an additional 1,021,439 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of IDEX by 7.5% during 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 acquiring an additional 555,250 shares during the period. Hsbc Holdings PLC boosted its stake in shares of IDEX by 75.6% during the 2nd quarter. Hsbc Holdings PLC now owns 519,124 shares of the industrial products company’s stock worth $104,179,000 after acquiring an additional 223,422 shares in the last quarter. D. E. Shaw & Co. Inc. grew its holdings in shares of 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 worth $39,872,000 after acquiring an additional 141,064 shares during the period. Finally, Millennium Management LLC increased its stake 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 purchasing an additional 130,292 shares in the last quarter. 97.96% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

IEX has been the topic of several research reports. Stifel Nicolaus upped their target price on IDEX from $232.00 to $244.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Robert W. Baird dropped their target price on shares of IDEX from $245.00 to $241.00 and set an “outperform” rating for the company in a report on Thursday, October 31st. TD Cowen reduced their price target on shares of IDEX from $240.00 to $230.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Royal Bank of Canada increased their price target on shares of IDEX from $236.00 to $248.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Finally, Argus lowered IDEX from a “buy” rating to a “hold” rating in a research note on Wednesday, August 14th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $241.14.

IDEX Stock Performance

NYSE:IEX opened at $227.50 on Friday. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.97 and a quick ratio of 2.11. The firm has a market cap of $17.23 billion, a PE ratio of 35.22, a P/E/G ratio of 2.36 and a beta of 0.96. The firm has a 50 day simple moving average of $214.43 and a 200-day simple moving average of $207.89. IDEX Co. has a 1-year low of $189.51 and a 1-year high of $246.36.

IDEX (NYSE:IEX) last issued its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $1.90 earnings per share 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 the consensus estimate of $793.05 million. During the same period in the previous year, the firm posted $2.12 EPS. IDEX’s revenue was up .6% on a year-over-year basis. On average, equities analysts expect that IDEX Co. will post 7.88 EPS for the current year.

IDEX Announces Dividend

The firm also recently declared 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. This represents a $2.76 annualized dividend and a yield of 1.21%. The ex-dividend date is Friday, January 17th. IDEX’s dividend payout ratio (DPR) is 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.