Legacy Wealth Management LLC MS Takes $267,000 Position in IDEX Co. (NYSE:IEX)

Legacy Wealth Management LLC MS bought a new position in shares of IDEX Co. (NYSE:IEX - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 1,473 shares of the industrial products company's stock, valued at approximately $267,000.

Several other institutional investors have also recently bought and sold shares of IEX. Banque de Luxembourg S.A. bought a new position in shares of IDEX in the 4th quarter valued at $27,000. MassMutual Private Wealth & Trust FSB raised its position in IDEX by 81.0% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 143 shares of the industrial products company's stock valued at $26,000 after purchasing an additional 64 shares during the last quarter. Quarry LP bought a new position in IDEX in the fourth quarter valued at about $49,000. Jones Financial Companies Lllp raised its position in IDEX by 35.2% in the fourth quarter. Jones Financial Companies Lllp now owns 407 shares of the industrial products company's stock valued at $85,000 after purchasing an additional 106 shares during the last quarter. Finally, Orion Capital Management LLC bought a new position in IDEX in the 4th quarter valued at approximately $86,000. Institutional investors and hedge funds own 97.96% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on IEX. Royal Bank of Canada raised their price target on shares of IDEX from $206.00 to $208.00 and gave the company an "outperform" rating in a research note on Friday, May 2nd. Robert W. Baird set a $215.00 target price on IDEX in a research report on Friday, May 2nd. Stifel Nicolaus raised their target price on IDEX from $192.00 to $208.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. DA Davidson lowered their price objective on IDEX from $225.00 to $215.00 and set a "neutral" rating for the company in a research report on Wednesday, February 19th. Finally, Citigroup lowered their price objective on IDEX from $264.00 to $201.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $212.50.

IDEX Trading Down 0.7%

Shares of NYSE:IEX traded down $1.35 during mid-day trading on Friday, hitting $180.79. The company had a trading volume of 834,199 shares, compared to its average volume of 583,219. The firm has a fifty day moving average price of $176.59 and a 200 day moving average price of $197.91. The company has a market capitalization of $13.66 billion, a PE ratio of 27.19, a price-to-earnings-growth ratio of 1.98 and a beta of 1.07. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.53 and a quick ratio of 1.85. IDEX Co. has a one year low of $153.36 and a one year high of $238.22.

IDEX (NYSE:IEX - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The industrial products company reported $1.75 earnings per share for the quarter, beating the consensus estimate of $1.64 by $0.11. IDEX had a net margin of 15.45% and a return on equity of 16.08%. The firm had revenue of $814.30 million during the quarter, compared to the consensus estimate of $807.25 million. During the same period in the previous year, the firm posted $1.88 earnings per share. The business's revenue was up 1.7% compared to the same quarter last year. As a group, research analysts forecast that IDEX Co. will post 8.26 EPS for the current year.

IDEX Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Monday, May 19th will be given a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 1.57%. This is a positive change from IDEX's previous quarterly dividend of $0.69. The ex-dividend date is Monday, May 19th. IDEX's payout ratio is presently 45.01%.

IDEX Company 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.