Gabelli Funds LLC Sells 2,600 Shares of IDEX Co. (NYSE:IEX)

by · The Cerbat Gem

Gabelli Funds LLC reduced its holdings in IDEX Co. (NYSE:IEX – Free Report) by 1.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 241,250 shares of the industrial products company’s stock after selling 2,600 shares during the period. Gabelli Funds LLC’s holdings in IDEX were worth $50,185,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in IEX. Pathstone Family Office LLC grew its position in shares of IDEX by 1.2% in the 4th quarter. Pathstone Family Office LLC now owns 3,703 shares of the industrial products company’s stock valued at $846,000 after acquiring an additional 45 shares during the period. Avior Wealth Management LLC grew its position in shares of IDEX by 2.3% in the 3rd quarter. Avior Wealth Management LLC now owns 2,210 shares of the industrial products company’s stock valued at $460,000 after acquiring an additional 49 shares during the period. EverSource Wealth Advisors LLC grew its position in shares of IDEX by 43.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 164 shares of the industrial products company’s stock valued at $35,000 after acquiring an additional 50 shares during the period. Ronald Blue Trust Inc. grew its position in shares of IDEX by 7.7% in the 3rd quarter. Ronald Blue Trust Inc. now owns 701 shares of the industrial products company’s stock valued at $151,000 after acquiring an additional 50 shares during the period. Finally, CWM LLC boosted its holdings in shares of IDEX by 3.1% during the 3rd quarter. CWM LLC now owns 1,719 shares of the industrial products company’s stock worth $358,000 after buying an additional 52 shares during the period. 94.85% of the stock is currently owned by institutional investors and hedge funds.

IDEX Stock Performance

NYSE IEX traded down $1.18 during trading on Monday, reaching $219.54. The company’s stock had a trading volume of 149,034 shares, compared to its average volume of 373,144. The company has a current ratio of 3.11, a quick ratio of 2.20 and a debt-to-equity ratio of 0.39. The firm has a market capitalization of $16.60 billion, a price-to-earnings ratio of 26.77, a price-to-earnings-growth ratio of 2.21 and a beta of 0.96. IDEX Co. has a 12 month low of $183.76 and a 12 month high of $231.61. The firm has a 50 day moving average price of $209.51 and a 200 day moving average price of $209.36.

IDEX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 26th. Shareholders of record on Friday, January 12th were issued a $0.64 dividend. This represents a $2.56 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date was Thursday, January 11th. IDEX’s dividend payout ratio is currently 31.53%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Stifel Nicolaus lifted their target price on shares of IDEX from $214.00 to $215.00 and gave the stock a “hold” rating in a report on Tuesday, January 23rd. Oppenheimer reaffirmed an “outperform” rating and set a $245.00 target price on shares of IDEX in a report on Thursday, October 19th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $228.67.

Read Our Latest Stock Report on IDEX

IDEX Profile

(Free Report)

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.

See Also

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