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

ICICI Prudential Asset Management Co Ltd purchased a new stake in shares of IDEX Co. (NYSE:IEX - Free Report) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 10,341 shares of the industrial products company's stock, valued at approximately $2,218,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Catalyst Capital Advisors LLC increased 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 valued at $30,000 after purchasing an additional 59 shares in the last quarter. Assetmark Inc. bought a new position in IDEX in the 3rd quarter valued at $39,000. Livforsakringsbolaget Skandia Omsesidigt boosted its position in 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 buying an additional 100 shares during the last quarter. EdgeRock Capital LLC bought a new position in IDEX in the 2nd quarter valued at $41,000. Finally, Whittier Trust Co. boosted its position 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 during the last quarter. 97.96% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have commented on IEX. Royal Bank of Canada increased their price objective on IDEX from $236.00 to $248.00 and gave the company an "outperform" rating in a research report on Thursday, October 31st. Argus lowered IDEX from a "buy" rating to a "hold" rating in a research report on Wednesday, August 14th. DA Davidson reduced 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. TD Cowen reduced 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. Finally, Oppenheimer reduced their price target on IDEX from $245.00 to $238.00 and set an "outperform" rating on the stock in a research report on Monday, August 5th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $241.14.

IDEX Trading Up 1.3 %

IDEX stock traded up $3.03 during mid-day trading on Wednesday, hitting $231.00. 767,933 shares of the company's stock were exchanged, compared to its average volume of 473,322. The firm has a market capitalization of $17.49 billion, a P/E ratio of 35.64, a PEG ratio of 2.41 and a beta of 0.96. IDEX Co. has a fifty-two week low of $189.51 and a fifty-two week high of $246.36. The company has a quick ratio of 2.11, a current ratio of 2.97 and a debt-to-equity ratio of 0.54. The company's 50 day simple moving average is $210.29 and its 200-day simple moving average is $207.42.

IDEX (NYSE:IEX - Get Free Report) last issued its quarterly earnings data 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. IDEX had a return on equity of 15.92% and a net margin of 15.35%. The business had revenue of $798.20 million for the quarter, compared to the consensus estimate of $793.05 million. During the same quarter last year, the business posted $2.12 EPS. The firm's revenue was up .6% compared to the same quarter last year. On average, equities analysts anticipate that IDEX Co. will post 7.88 earnings per share for the current year.

IDEX Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 17th will be paid a $0.69 dividend. This represents a $2.76 annualized dividend and a dividend yield of 1.19%. IDEX's dividend payout ratio is 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.