Fisher Asset Management LLC Buys 46,770 Shares of IDEX Co. (NYSE:IEX)

Fisher Asset Management LLC lifted its stake in shares of IDEX Co. (NYSE:IEX) by 7.6% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 659,006 shares of the industrial products company’s stock after buying an additional 46,770 shares during the quarter. Fisher Asset Management LLC’s holdings in IDEX were worth $141,357,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Catalyst Capital Advisors LLC lifted its position in IDEX by 73.8% during the third 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 during the last quarter. Assetmark Inc. acquired a new stake in IDEX during the 3rd quarter worth approximately $39,000. EdgeRock Capital LLC bought a new stake in IDEX in the 2nd quarter valued at $41,000. Whittier Trust Co. grew its holdings in IDEX by 38.4% in the 2nd quarter. Whittier Trust Co. now owns 209 shares of the industrial products company’s stock valued at $42,000 after buying an additional 58 shares in the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt increased its position in IDEX by 100.0% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 200 shares of the industrial products company’s stock worth $43,000 after buying an additional 100 shares during the period. Institutional investors own 97.96% of the company’s stock.

Wall Street Analysts Forecast Growth

IEX has been the subject of a number of recent research reports. Argus downgraded shares of IDEX from a “buy” rating to a “hold” rating in a report on Wednesday, August 14th. Royal Bank of Canada increased their price target on IDEX from $236.00 to $248.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Oppenheimer dropped their price objective on IDEX from $245.00 to $238.00 and set an “outperform” rating for the company in a report on Monday, August 5th. DA Davidson reduced their target price on IDEX from $220.00 to $210.00 and set a “neutral” rating on the stock in a report on Monday, August 5th. Finally, TD Cowen decreased their price target on IDEX from $240.00 to $230.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, IDEX currently has a consensus rating of “Moderate Buy” and a consensus target price of $241.14.

IDEX Trading Up 1.5 %

NYSE:IEX opened at $236.09 on Tuesday. IDEX Co. has a 52 week low of $189.51 and a 52 week high of $246.36. The firm’s fifty day moving average is $215.75 and its 200-day moving average is $207.86. The firm has a market cap of $17.88 billion, a P/E ratio of 36.55, a P/E/G ratio of 2.46 and a beta of 0.96. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.11 and a current ratio of 2.97.

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

IDEX Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 17th will be paid a $0.69 dividend. The ex-dividend date of this dividend is Friday, January 17th. This represents a $2.76 annualized dividend and a dividend yield of 1.17%. 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.