Northstar Asset Management Inc. grew its holdings in shares of IDEX Co. (NYSE:IEX – Free Report) by 5.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 39,698 shares of the industrial products company’s stock after buying an additional 2,096 shares during the quarter. IDEX accounts for about 2.1% of Northstar Asset Management Inc.’s investment portfolio, making the stock its 24th largest holding. Northstar Asset Management Inc.’s holdings in IDEX were worth $8,515,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Catalyst Capital Advisors LLC grew its holdings in IDEX by 73.8% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 139 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 59 shares in the last quarter. EdgeRock Capital LLC acquired a new stake in IDEX during the second quarter valued at approximately $41,000. Whittier Trust Co. grew its position in shares of IDEX by 38.4% in the 2nd quarter. Whittier Trust Co. now owns 209 shares of the industrial products company’s stock worth $42,000 after acquiring an additional 58 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt increased its holdings in shares of IDEX by 100.0% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 200 shares of the industrial products company’s stock valued at $43,000 after acquiring an additional 100 shares during the last quarter. Finally, UMB Bank n.a. lifted its stake in IDEX by 31.0% during the second quarter. UMB Bank n.a. now owns 241 shares of the industrial products company’s stock worth $48,000 after purchasing an additional 57 shares during the last quarter. Institutional investors own 97.96% of the company’s stock.
Analyst Upgrades and Downgrades
Several analysts have weighed in on IEX shares. Royal Bank of Canada boosted their target price on shares of IDEX from $236.00 to $248.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Oppenheimer decreased their target price on IDEX from $245.00 to $238.00 and set an “outperform” rating for the company in a research note on Monday, August 5th. DA Davidson dropped their price target on IDEX from $220.00 to $210.00 and set a “neutral” rating on the stock in a research report on Monday, August 5th. Stifel Nicolaus boosted their price objective on IDEX from $232.00 to $244.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Finally, Argus lowered IDEX from a “buy” rating to a “hold” rating in a research report on Wednesday, August 14th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, IDEX has an average rating of “Moderate Buy” and a consensus price target of $241.14.
IDEX Trading Up 2.6 %
Shares of NYSE:IEX opened at $224.71 on Wednesday. IDEX Co. has a twelve month low of $189.33 and a twelve month high of $246.36. The company has a current ratio of 2.97, a quick ratio of 2.11 and a debt-to-equity ratio of 0.54. The firm has a market cap of $17.02 billion, a P/E ratio of 34.78, a P/E/G ratio of 2.29 and a beta of 0.96. The company has a 50 day moving average of $207.78 and a 200-day moving average of $207.29.
IDEX (NYSE:IEX – Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $1.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.01. IDEX had a return on equity of 15.92% and a net margin of 15.35%. The company had revenue of $798.20 million for the quarter, compared to analysts’ expectations of $793.05 million. During the same period last year, the firm earned $2.12 EPS. The firm’s revenue for the quarter was up .6% on a year-over-year basis. As a group, analysts anticipate that IDEX Co. will post 7.87 earnings per share for the current fiscal year.
IDEX Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, October 11th were given a $0.69 dividend. The ex-dividend date was Friday, October 11th. This represents a $2.76 annualized dividend and a yield of 1.23%. IDEX’s dividend payout ratio (DPR) is 42.72%.
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.
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