Symmetry Partners LLC Sells 944 Shares of IDEX Co. (NYSE:IEX)

Symmetry Partners LLC cut its holdings in IDEX Co. (NYSE:IEX) by 39.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,472 shares of the industrial products company’s stock after selling 944 shares during the period. Symmetry Partners LLC’s holdings in IDEX were worth $296,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Norges Bank bought a new position in shares of IDEX during the 4th quarter worth approximately $237,425,000. Price T Rowe Associates Inc. MD grew its holdings in IDEX by 7.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 7,964,956 shares of the industrial products company’s stock worth $1,943,609,000 after purchasing an additional 555,250 shares during the period. Public Employees Retirement Association of Colorado increased its stake in IDEX by 4,080.8% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 313,725 shares of the industrial products company’s stock valued at $68,113,000 after purchasing an additional 306,221 shares in the last quarter. Maren Capital LLC bought a new position in shares of IDEX during the 4th quarter worth about $49,789,000. Finally, Nordea Investment Management AB grew its stake in shares of IDEX by 151.9% in the 1st quarter. Nordea Investment Management AB now owns 342,170 shares of the industrial products company’s stock valued at $83,767,000 after buying an additional 206,345 shares during the period. Institutional investors own 97.96% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on IEX shares. StockNews.com lowered IDEX from a “buy” rating to a “hold” rating in a report on Thursday, July 11th. Robert W. Baird dropped their price objective on shares of IDEX from $256.00 to $241.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. DA Davidson lowered their target price on shares of IDEX from $220.00 to $210.00 and set a “neutral” rating on the stock in a report on Monday, August 5th. TD Cowen decreased their price objective on IDEX from $240.00 to $230.00 and set a “buy” rating for the company in a report on Wednesday. Finally, Oppenheimer lowered their price objective on IDEX from $245.00 to $238.00 and set an “outperform” rating for the company in a research note on Monday, August 5th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, IDEX currently has an average rating of “Moderate Buy” and a consensus price target of $235.33.

IDEX Stock Performance

IEX traded down $0.52 during trading on Friday, hitting $194.34. 338,170 shares of the company traded hands, compared to its average volume of 438,506. IDEX Co. has a one year low of $183.76 and a one year high of $246.36. The stock’s fifty day moving average is $201.21 and its 200 day moving average is $218.81. The company has a quick ratio of 2.45, a current ratio of 3.41 and a debt-to-equity ratio of 0.36. The firm has a market cap of $14.71 billion, a P/E ratio of 25.57, a price-to-earnings-growth ratio of 2.08 and a beta of 0.95.

IDEX (NYSE:IEX) last released its earnings results on Wednesday, July 31st. The industrial products company reported $2.06 earnings per share for the quarter, beating analysts’ consensus estimates of $2.04 by $0.02. IDEX had a net margin of 18.19% and a return on equity of 16.87%. The firm had revenue of $807.20 million during the quarter, compared to the consensus estimate of $828.15 million. During the same period in the prior year, the firm earned $2.18 EPS. The company’s revenue was down 4.6% compared to the same quarter last year. As a group, equities analysts predict that IDEX Co. will post 7.85 EPS for the current fiscal year.

IDEX Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, July 26th. Shareholders of record on Friday, July 12th were given a dividend of $0.69 per share. The ex-dividend date was Friday, July 12th. This represents a $2.76 annualized dividend and a dividend yield of 1.42%. IDEX’s dividend payout ratio is currently 36.32%.

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.