IDEX Co. (NYSE:IEX) Shares Acquired by Apollon Wealth Management LLC

Apollon Wealth Management LLC increased its stake in shares of IDEX Co. (NYSE:IEX) by 42.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,095 shares of the industrial products company’s stock after acquiring an additional 1,217 shares during the period. Apollon Wealth Management LLC’s holdings in IDEX were worth $889,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also bought and sold shares of the stock. Planned Solutions Inc. acquired a new position in shares of IDEX in the 4th quarter valued at $33,000. Headlands Technologies LLC acquired a new stake in shares of IDEX during the 4th quarter valued at about $52,000. Compagnie Lombard Odier SCmA purchased a new position in shares of IDEX in the 4th quarter valued at about $54,000. Cary Street Partners Investment Advisory LLC raised its holdings in IDEX by 30.9% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 339 shares of the industrial products company’s stock worth $71,000 after purchasing an additional 80 shares during the period. Finally, Desjardins Global Asset Management Inc. boosted its position in IDEX by 25.6% during the fourth quarter. Desjardins Global Asset Management Inc. now owns 388 shares of the industrial products company’s stock worth $84,000 after purchasing an additional 79 shares in the last quarter. Hedge funds and other institutional investors own 97.96% of the company’s stock.

IDEX Stock Performance

NYSE IEX opened at $222.74 on Friday. IDEX Co. has a fifty-two week low of $183.76 and a fifty-two week high of $246.36. The firm has a market capitalization of $16.86 billion, a P/E ratio of 29.31, a price-to-earnings-growth ratio of 2.21 and a beta of 0.99. The stock’s fifty day moving average is $234.10 and its two-hundred day moving average is $217.94. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.45 and a current ratio of 3.37.

IDEX (NYSE:IEX) last released its quarterly earnings data on Tuesday, April 23rd. The industrial products company reported $1.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.76 by $0.12. The firm had revenue of $801.00 million during the quarter, compared to analysts’ expectations of $807.52 million. IDEX had a net margin of 17.89% and a return on equity of 17.60%. IDEX’s revenue was down 5.3% compared to the same quarter last year. During the same period last year, the business earned $2.09 earnings per share. On average, research analysts anticipate that IDEX Co. will post 8.33 earnings per share for the current year.

IDEX Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be paid a $0.69 dividend. This represents a $2.76 annualized dividend and a dividend yield of 1.24%. The ex-dividend date of this dividend is Thursday, May 16th. This is a positive change from IDEX’s previous quarterly dividend of $0.64. IDEX’s dividend payout ratio is 33.68%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $255.00 target price on shares of IDEX in a research note on Thursday, March 21st. Stifel Nicolaus raised shares of IDEX from a “hold” rating to a “buy” rating and boosted their target price for the stock from $215.00 to $265.00 in a research note on Thursday, February 8th. Robert W. Baird decreased their price target on shares of IDEX from $260.00 to $256.00 and set an “outperform” rating on the stock in a research note on Thursday, April 25th. Oppenheimer boosted their price objective on IDEX from $245.00 to $252.00 and gave the stock an “outperform” rating in a research note on Thursday, April 18th. Finally, StockNews.com lowered IDEX from a “buy” rating to a “hold” rating in a research note on Thursday, May 2nd. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $250.71.

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.