Oppenheimer Asset Management Inc. Sells 3,340 Shares of IDEX Co. (NYSE:IEX)

Oppenheimer Asset Management Inc. trimmed its holdings in shares of IDEX Co. (NYSE:IEX - Free Report) by 29.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,987 shares of the industrial products company's stock after selling 3,340 shares during the quarter. Oppenheimer Asset Management Inc.'s holdings in IDEX were worth $1,713,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. Price T Rowe Associates Inc. MD increased its position in IDEX by 7.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 7,964,956 shares of the industrial products company's stock worth $1,943,609,000 after buying an additional 555,250 shares during the last quarter. Van ECK Associates Corp increased its position in IDEX by 9,424.6% during the third quarter. Van ECK Associates Corp now owns 1,032,277 shares of the industrial products company's stock worth $211,473,000 after buying an additional 1,021,439 shares during the last quarter. Hsbc Holdings PLC increased its position in IDEX by 75.6% during the second quarter. Hsbc Holdings PLC now owns 519,124 shares of the industrial products company's stock worth $104,179,000 after buying an additional 223,422 shares during the last quarter. Dimensional Fund Advisors LP increased its position in IDEX by 20.0% during the second quarter. Dimensional Fund Advisors LP now owns 470,672 shares of the industrial products company's stock worth $94,698,000 after buying an additional 78,551 shares during the last quarter. Finally, Ceredex Value Advisors LLC grew its position in shares of IDEX by 4.8% in the third quarter. Ceredex Value Advisors LLC now owns 436,550 shares of the industrial products company's stock valued at $93,640,000 after purchasing an additional 20,175 shares during the last quarter. 97.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

IEX has been the topic of several research analyst reports. Stifel Nicolaus raised their price target on IDEX from $232.00 to $244.00 and gave the company a "buy" rating in a research report on Wednesday, October 16th. TD Cowen lowered 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. DA Davidson lowered 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. Robert W. Baird lowered their price target on IDEX from $245.00 to $241.00 and set an "outperform" rating on the stock in a research report on Thursday, October 31st. Finally, Oppenheimer lowered 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 equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, IDEX currently has an average rating of "Moderate Buy" and an average price target of $241.14.

IDEX Stock Performance

IEX stock traded down $0.99 during trading on Monday, reaching $226.84. 145,719 shares of the stock were exchanged, compared to its average volume of 478,785. The company has a market capitalization of $17.18 billion, a P/E ratio of 35.27, a price-to-earnings-growth ratio of 2.41 and a beta of 0.96. The company has a current ratio of 2.97, a quick ratio of 2.11 and a debt-to-equity ratio of 0.54. IDEX Co. has a twelve month low of $189.51 and a twelve month high of $246.36. The stock has a 50 day simple moving average of $212.21 and a 200-day simple moving average of $207.58.

IDEX (NYSE:IEX - Get Free Report) last announced its quarterly earnings results 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 firm had revenue of $798.20 million during the quarter, compared to analysts' expectations of $793.05 million. IDEX had a net margin of 15.35% and a return on equity of 15.92%. The company's revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter last year, the company earned $2.12 earnings per share. As a group, sell-side analysts anticipate that IDEX Co. will post 7.88 earnings per share for the current year.

IDEX Announces Dividend

The firm 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 dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date of this dividend is Friday, January 17th. IDEX's dividend payout ratio is 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.