ICICI Prudential Asset Management Co Ltd Buys Shares of 10,341 IDEX Co. (NYSE:IEX)

ICICI Prudential Asset Management Co Ltd bought a new stake in IDEX Co. (NYSE:IEX) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 10,341 shares of the industrial products company’s stock, valued at approximately $2,218,000.

Other hedge funds also recently modified their holdings of the company. Catalyst Capital Advisors LLC increased its stake in IDEX by 73.8% in the third quarter. Catalyst Capital Advisors LLC now owns 139 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 59 shares in the last quarter. Assetmark Inc. purchased a new position in IDEX in the third quarter valued at about $39,000. Livforsakringsbolaget Skandia Omsesidigt boosted its stake in IDEX by 100.0% in the third 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. EdgeRock Capital LLC bought a new stake in shares of IDEX in the second quarter valued at approximately $41,000. Finally, Whittier Trust Co. raised its position in shares of IDEX by 38.4% in the second quarter. Whittier Trust Co. now owns 209 shares of the industrial products company’s stock valued at $42,000 after purchasing an additional 58 shares during the period. Institutional investors and hedge funds own 97.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Oppenheimer decreased their target price on shares of IDEX from $245.00 to $238.00 and set an “outperform” rating on the stock in a report on Monday, August 5th. Robert W. Baird lowered their target price on IDEX from $245.00 to $241.00 and set an “outperform” rating for the company in a research note on Thursday, October 31st. TD Cowen lowered their price target on IDEX from $240.00 to $230.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. DA Davidson lowered their price target on IDEX from $220.00 to $210.00 and set a “neutral” rating for the company in a research report on Monday, August 5th. Finally, Royal Bank of Canada increased their target price on IDEX from $236.00 to $248.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $241.14.

IDEX Trading Up 0.8 %

Shares of NYSE:IEX traded up $1.87 during trading hours on Wednesday, hitting $229.84. 83,313 shares of the company’s stock traded hands, compared to its average volume of 470,062. IDEX Co. has a 1 year low of $189.51 and a 1 year high of $246.36. The business has a fifty day moving average price of $210.29 and a 200-day moving average price of $207.42. The firm has a market capitalization of $17.40 billion, a P/E ratio of 35.29, a price-to-earnings-growth ratio of 2.42 and a beta of 0.96. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.97 and a quick ratio of 2.11.

IDEX (NYSE:IEX) last issued its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $1.90 EPS for the quarter, topping analysts’ consensus estimates of $1.89 by $0.01. The company had revenue of $798.20 million during the quarter, compared to the consensus estimate of $793.05 million. IDEX had a net margin of 15.35% and a return on equity of 15.92%. IDEX’s revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.12 earnings per share. Equities analysts expect that IDEX Co. will post 7.88 earnings per share for the current year.

IDEX Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, October 11th were given a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a yield of 1.20%. The ex-dividend date of this dividend was Friday, October 11th. IDEX’s dividend payout ratio is currently 42.72%.

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.