Oppenheimer Asset Management Inc. Lowers Stock Holdings in IDEX Co. (NYSE:IEX)

Oppenheimer Asset Management Inc. decreased its holdings 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 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 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Catalyst Capital Advisors LLC boosted its stake in IDEX by 73.8% in the 3rd 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 during the last quarter. Assetmark Inc. acquired a new stake in shares of IDEX in the third quarter worth approximately $39,000. EdgeRock Capital LLC purchased a new stake in IDEX in the second quarter valued at approximately $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 purchasing an additional 58 shares during the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt raised its stake 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 purchasing an additional 100 shares during the period. Institutional investors and hedge funds own 97.96% of the company’s stock.

IDEX Trading Down 0.7 %

IEX opened at $227.83 on Monday. The firm has a market capitalization of $17.25 billion, a P/E ratio of 35.27, a P/E/G ratio of 2.41 and a beta of 0.96. The firm’s 50 day moving average is $212.21 and its 200-day moving average is $207.58. The company has a quick ratio of 2.11, a current ratio of 2.97 and a debt-to-equity ratio of 0.54. IDEX Co. has a 52-week low of $189.51 and a 52-week high of $246.36.

IDEX (NYSE:IEX) last issued its quarterly earnings data 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 for the quarter, compared to analyst estimates of $793.05 million. IDEX had a net margin of 15.35% and a return on equity of 15.92%. The firm’s revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.12 EPS. Analysts expect that IDEX Co. will post 7.88 EPS for the current fiscal year.

IDEX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 17th will be issued a dividend of $0.69 per share. The ex-dividend date is Friday, January 17th. This represents a $2.76 annualized dividend and a yield of 1.21%. IDEX’s dividend payout ratio is presently 42.72%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on IEX shares. DA Davidson dropped their price objective on IDEX from $220.00 to $210.00 and set a “neutral” rating for the company in a report on Monday, August 5th. Robert W. Baird dropped their price target on IDEX from $245.00 to $241.00 and set an “outperform” rating for the company in a research note on Thursday, October 31st. Stifel Nicolaus boosted their target price on IDEX from $232.00 to $244.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Royal Bank of Canada raised their price target on shares of IDEX from $236.00 to $248.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Finally, TD Cowen reduced their price target on shares of IDEX from $240.00 to $230.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $241.14.

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.