Corient Private Wealth LLC Increases Stock Holdings in IDEX Co. (NYSE:IEX)

Corient Private Wealth LLC lifted its position in IDEX Co. (NYSE:IEX) by 3.6% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 68,187 shares of the industrial products company’s stock after buying an additional 2,399 shares during the quarter. Corient Private Wealth LLC’s holdings in IDEX were worth $14,804,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in IEX. Jacobson & Schmitt Advisors LLC increased its stake in shares of IDEX by 5.0% during the 3rd quarter. Jacobson & Schmitt Advisors LLC now owns 1,242 shares of the industrial products company’s stock valued at $258,000 after acquiring an additional 59 shares during the last quarter. DB Fitzpatrick & Co Inc increased its holdings in IDEX by 2.4% in the fourth quarter. DB Fitzpatrick & Co Inc now owns 2,833 shares of the industrial products company’s stock worth $615,000 after buying an additional 67 shares during the last quarter. Desjardins Global Asset Management Inc. increased its stake in shares of IDEX by 25.6% in the fourth quarter. Desjardins Global Asset Management Inc. now owns 388 shares of the industrial products company’s stock worth $84,000 after purchasing an additional 79 shares during the period. Cary Street Partners Investment Advisory LLC lifted its holdings in shares of IDEX by 30.9% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 339 shares of the industrial products company’s stock worth $71,000 after acquiring an additional 80 shares during the period. Finally, Wahed Invest LLC boosted its stake in IDEX by 9.1% in the third quarter. Wahed Invest LLC now owns 1,193 shares of the industrial products company’s stock worth $248,000 after purchasing an additional 100 shares in the last quarter. 97.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

IEX has been the topic of several recent analyst reports. Oppenheimer lifted their price objective on IDEX from $245.00 to $252.00 and gave the company an “outperform” rating in a report on Thursday, April 18th. Citigroup raised their target price on IDEX from $254.00 to $277.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. Robert W. Baird decreased their target price on shares of IDEX from $260.00 to $256.00 and set an “outperform” rating for the company in a research report on Thursday, April 25th. Stifel Nicolaus raised shares of IDEX from a “hold” rating to a “buy” rating and lifted their target price for the stock from $215.00 to $265.00 in a research report on Thursday, February 8th. Finally, StockNews.com upgraded shares of IDEX from a “hold” rating to a “buy” rating in a report on Saturday, May 18th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $250.71.

IDEX Price Performance

Shares of IDEX stock traded down $0.39 during trading hours on Friday, hitting $215.15. The company’s stock had a trading volume of 493,996 shares, compared to its average volume of 409,066. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.45 and a current ratio of 3.37. IDEX Co. has a 12-month low of $183.76 and a 12-month high of $246.36. The business has a 50 day moving average price of $230.14 and a two-hundred day moving average price of $220.17. The company has a market cap of $16.28 billion, a PE ratio of 28.31, a PEG ratio of 2.16 and a beta of 0.99.

IDEX (NYSE:IEX) last issued its quarterly earnings data on Tuesday, April 23rd. The industrial products company reported $1.88 earnings per share for the quarter, topping the consensus estimate of $1.76 by $0.12. The company had revenue of $801.00 million for the quarter, compared to analysts’ expectations of $807.52 million. IDEX had a return on equity of 17.60% and a net margin of 17.89%. The firm’s revenue for the quarter was down 5.3% on a year-over-year basis. During the same period in the previous year, the firm posted $2.09 earnings per share. Analysts expect that IDEX Co. will post 8.31 earnings per share for the current fiscal year.

IDEX Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be issued a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a dividend yield of 1.28%. This is a positive change from IDEX’s previous quarterly dividend of $0.64. The ex-dividend date is Thursday, May 16th. IDEX’s payout ratio is 36.32%.

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.