IDEX Co. (NYSE:IEX) Shares Acquired by Citigroup Inc.

Citigroup Inc. grew its stake in shares of IDEX Co. (NYSE:IEX - Free Report) by 24.1% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 90,923 shares of the industrial products company's stock after buying an additional 17,662 shares during the period. Citigroup Inc. owned 0.12% of IDEX worth $19,503,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Catalyst Capital Advisors LLC increased 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 buying an additional 59 shares in the last quarter. Assetmark Inc. purchased a new position in IDEX during the third quarter worth $39,000. EdgeRock Capital LLC purchased a new position in IDEX during the second quarter worth $41,000. Whittier Trust Co. increased its position in IDEX by 38.4% during the second quarter. Whittier Trust Co. now owns 209 shares of the industrial products company's stock worth $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 third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 200 shares of the industrial products company's stock worth $43,000 after buying an additional 100 shares in 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. Royal Bank of Canada lifted 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. Stifel Nicolaus lifted 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. Argus downgraded IDEX from a "buy" rating to a "hold" rating in a research report on Wednesday, August 14th. Robert W. Baird lowered their price objective on IDEX from $245.00 to $241.00 and set an "outperform" rating for the company in a research report on Thursday, October 31st. Finally, Oppenheimer lowered their price objective on IDEX from $245.00 to $238.00 and set an "outperform" rating for the company in a research report on Monday, August 5th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, IDEX currently has a consensus rating of "Moderate Buy" and a consensus target price of $241.14.

IDEX Trading Down 0.4 %

IEX stock traded down $0.92 during trading on Wednesday, reaching $231.10. 728,186 shares of the stock traded hands, compared to its average volume of 483,857. The business's 50 day moving average price is $216.30 and its 200-day moving average price is $207.90. IDEX Co. has a 52-week low of $189.51 and a 52-week high of $246.36. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.97 and a quick ratio of 2.11. The firm has a market capitalization of $17.50 billion, a PE ratio of 35.61, a P/E/G ratio of 2.50 and a beta of 0.96.

IDEX (NYSE:IEX - Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $1.90 earnings per share (EPS) for the quarter, beating 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 firm's quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.12 earnings per share. As a group, sell-side analysts forecast 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. Shareholders of record on Friday, January 17th will be paid a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date is Friday, January 17th. IDEX's dividend payout ratio is presently 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.