IDEX Co. (NYSE:IEX) Position Lowered by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. lowered its position in shares of IDEX Co. (NYSE:IEX) by 29.5% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor 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.

A number of other large investors also recently bought and sold shares of the company. UMB Bank n.a. raised its position in shares of IDEX by 31.0% during the 2nd quarter. UMB Bank n.a. now owns 241 shares of the industrial products company’s stock valued at $48,000 after acquiring an additional 57 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in IDEX by 19.9% during the second 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 position in shares of 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 last quarter. Catalyst Capital Advisors LLC boosted its holdings 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 valued at $30,000 after buying an additional 59 shares during the period. Finally, Oregon Public Employees Retirement Fund grew its position in shares of IDEX by 1.0% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 6,476 shares of the industrial products company’s stock valued at $1,303,000 after buying an additional 61 shares during the last quarter. Institutional investors own 97.96% of the company’s stock.

IDEX Stock Down 0.7 %

NYSE IEX opened at $227.83 on Monday. IDEX Co. has a 12 month low of $189.51 and a 12 month high of $246.36. The company has a market capitalization of $17.25 billion, a P/E ratio of 35.27, a PEG ratio of 2.41 and a beta of 0.96. The company’s 50 day simple moving average is $212.21 and its 200 day simple moving average is $207.58. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.97 and a quick ratio of 2.11.

IDEX (NYSE:IEX) 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 the consensus estimate of $1.89 by $0.01. The company had revenue of $798.20 million for the quarter, compared to analysts’ expectations of $793.05 million. IDEX had a return on equity of 15.92% and a net margin of 15.35%. The firm’s revenue was up .6% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.12 earnings per share. Equities research analysts expect that IDEX Co. will post 7.88 earnings per share for the current fiscal year.

IDEX Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 17th will be paid a $0.69 dividend. The ex-dividend date is Friday, January 17th. This represents a $2.76 dividend on an annualized basis and a yield of 1.21%. IDEX’s dividend payout ratio is currently 42.72%.

Analyst Upgrades and Downgrades

IEX has been the subject of several recent research reports. DA Davidson lowered their price target on shares of IDEX from $220.00 to $210.00 and set a “neutral” rating for the company in a research report on Monday, August 5th. Oppenheimer decreased 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 IDEX from a “buy” rating to a “hold” rating in a report on Wednesday, August 14th. Stifel Nicolaus increased their price objective on IDEX from $232.00 to $244.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Finally, Robert W. Baird cut their target price on IDEX from $245.00 to $241.00 and set an “outperform” rating on the stock in a research note on Thursday, October 31st. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $241.14.

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.