Fisher Asset Management LLC Raises Stock Holdings in IDEX Co. (NYSE:IEX)

Fisher Asset Management LLC raised its stake in IDEX Co. (NYSE:IEX - Free Report) by 7.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 659,006 shares of the industrial products company's stock after purchasing an additional 46,770 shares during the quarter. Fisher Asset Management LLC owned 0.87% of IDEX worth $141,357,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Studio Investment Management LLC boosted its position in IDEX by 4.9% during the 3rd quarter. Studio Investment Management LLC now owns 955 shares of the industrial products company's stock valued at $205,000 after buying an additional 45 shares during the period. UMB Bank n.a. grew its stake in shares of IDEX by 31.0% in 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. EverSource Wealth Advisors LLC raised its position in IDEX by 19.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 344 shares of the industrial products company's stock valued at $72,000 after purchasing an additional 57 shares during the last quarter. Whittier Trust Co. lifted 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 worth $42,000 after buying an additional 58 shares during the period. Finally, Catalyst Capital Advisors LLC grew its position in shares of IDEX by 73.8% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 139 shares of the industrial products company's stock worth $30,000 after buying an additional 59 shares during the last quarter. Hedge funds and other institutional investors own 97.96% of the company's stock.

Analyst Upgrades and Downgrades

IEX has been the subject of a number of recent analyst reports. Robert W. Baird decreased their target price on IDEX from $245.00 to $241.00 and set an "outperform" rating for the company in a report on Thursday, October 31st. Oppenheimer dropped their target price on shares of IDEX from $245.00 to $238.00 and set an "outperform" rating for the company in a research report on Monday, August 5th. Argus cut shares of IDEX from a "buy" rating to a "hold" rating in a research report on Wednesday, August 14th. Stifel Nicolaus raised their price objective on shares of IDEX from $232.00 to $244.00 and gave the stock a "buy" rating in a report on Wednesday, October 16th. Finally, 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. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $241.14.

IDEX Stock Down 1.7 %

Shares of IEX traded down $4.04 during mid-day trading on Tuesday, reaching $232.02. The company had a trading volume of 482,289 shares, compared to its average volume of 482,790. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.11 and a current ratio of 2.97. The company has a market capitalization of $17.57 billion, a price-to-earnings ratio of 35.92, a price-to-earnings-growth ratio of 2.46 and a beta of 0.96. The firm has a 50-day moving average price of $215.75 and a 200 day moving average price of $207.86. IDEX Co. has a 52 week low of $189.51 and a 52 week high of $246.36.

IDEX (NYSE:IEX - Get Free Report) last released its earnings results on Tuesday, October 29th. The industrial products company reported $1.90 EPS for the quarter, topping the consensus estimate of $1.89 by $0.01. The business had revenue of $798.20 million for 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 company's revenue for the quarter was up .6% compared to the same quarter last year. During the same period in the previous year, the company posted $2.12 earnings per share. On average, sell-side analysts forecast that IDEX Co. will post 7.88 EPS for the current year.

IDEX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 17th will be issued a $0.69 dividend. The ex-dividend date of this dividend is Friday, January 17th. This represents a $2.76 dividend on an annualized basis and a yield of 1.19%. IDEX's payout ratio is currently 42.72%.

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.