Harvey Investment Co. LLC Sells 795 Shares of IDEX Co. (NYSE:IEX)

Harvey Investment Co. LLC decreased its position in IDEX Co. (NYSE:IEX) by 1.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 81,746 shares of the industrial products company’s stock after selling 795 shares during the period. IDEX accounts for 2.0% of Harvey Investment Co. LLC’s portfolio, making the stock its 19th largest position. Harvey Investment Co. LLC owned 0.11% of IDEX worth $17,535,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Boston Trust Walden Corp raised its stake in shares of IDEX by 3.3% during the second quarter. Boston Trust Walden Corp now owns 223,892 shares of the industrial products company’s stock worth $45,047,000 after buying an additional 7,222 shares during the last quarter. D. E. Shaw & Co. Inc. lifted its stake 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 valued at $39,872,000 after purchasing an additional 141,064 shares during the period. Qsemble Capital Management LP bought a new position in shares of IDEX in the 2nd quarter worth $3,627,000. SG Americas Securities LLC grew its stake in shares of IDEX by 241.3% during the first quarter. SG Americas Securities LLC now owns 37,561 shares of the industrial products company’s stock worth $9,166,000 after purchasing an additional 26,557 shares during the period. Finally, BNP Paribas Financial Markets increased its holdings in IDEX by 90.1% in the first quarter. BNP Paribas Financial Markets now owns 69,984 shares of the industrial products company’s stock valued at $17,077,000 after purchasing an additional 33,162 shares during the last quarter. 97.96% of the stock is currently owned by institutional investors and hedge funds.

IDEX Trading Down 0.9 %

IEX opened at $203.04 on Thursday. The firm’s fifty day simple moving average is $205.67 and its 200 day simple moving average is $208.76. The stock has a market capitalization of $15.37 billion, a P/E ratio of 26.96, a P/E/G ratio of 2.20 and a beta of 0.95. The company has a current ratio of 3.41, a quick ratio of 2.52 and a debt-to-equity ratio of 0.36. IDEX Co. has a 12 month low of $183.76 and a 12 month high of $246.36.

IDEX (NYSE:IEX) last posted its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $2.06 earnings per share for the quarter, topping the consensus estimate of $2.04 by $0.02. IDEX had a return on equity of 16.87% and a net margin of 18.19%. The company had revenue of $807.20 million during the quarter, compared to analysts’ expectations of $828.15 million. During the same period in the prior year, the firm earned $2.18 earnings per share. IDEX’s revenue for the quarter was down 4.6% compared to the same quarter last year. As a group, research analysts anticipate that IDEX Co. will post 7.88 EPS for the current fiscal year.

IDEX Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, October 11th will be given a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date is Friday, October 11th. IDEX’s dividend payout ratio is presently 36.32%.

Analyst Upgrades and Downgrades

IEX has been the topic of a number of recent analyst reports. TD Cowen reduced their target price on IDEX from $240.00 to $230.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Stifel Nicolaus boosted their price objective on shares of IDEX from $232.00 to $244.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. DA Davidson lowered their target price on shares of IDEX from $220.00 to $210.00 and set a “neutral” rating for the company in a research note on Monday, August 5th. StockNews.com lowered shares of IDEX from a “buy” rating to a “hold” rating in a report on Thursday, July 11th. Finally, Robert W. Baird dropped their price objective on IDEX from $256.00 to $241.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, IDEX presently has a consensus rating of “Moderate Buy” and a consensus target price of $239.43.

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.