Oppenheimer Asset Management Inc. Increases Stake in IDEX Co. (NYSE:IEX)

Oppenheimer Asset Management Inc. boosted its stake in IDEX Co. (NYSE:IEX) by 20.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,327 shares of the industrial products company’s stock after buying an additional 1,894 shares during the period. Oppenheimer Asset Management Inc.’s holdings in IDEX were worth $2,279,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Norges Bank bought a new stake in shares of IDEX during the fourth quarter valued at approximately $237,425,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of IDEX by 7.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,964,956 shares of the industrial products company’s stock valued at $1,943,609,000 after buying an additional 555,250 shares in the last quarter. Public Employees Retirement Association of Colorado grew its position in shares of IDEX by 4,080.8% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 313,725 shares of the industrial products company’s stock worth $68,113,000 after buying an additional 306,221 shares during the period. Maren Capital LLC bought a new position in shares of IDEX in the 4th quarter worth about $49,789,000. Finally, Nordea Investment Management AB lifted its position in IDEX by 151.9% during the 1st quarter. Nordea Investment Management AB now owns 342,170 shares of the industrial products company’s stock valued at $83,767,000 after acquiring an additional 206,345 shares during the period. 97.96% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

IEX has been the topic of a number of recent research reports. Oppenheimer cut their price objective on shares of IDEX from $245.00 to $238.00 and set an “outperform” rating on the stock in a report on Monday, August 5th. Royal Bank of Canada cut their price target on IDEX from $250.00 to $236.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. Robert W. Baird lowered their price objective on IDEX from $256.00 to $241.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. TD Cowen cut their target price on IDEX from $240.00 to $230.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Finally, DA Davidson lowered their price target on IDEX from $220.00 to $210.00 and set a “neutral” rating for the company in a research report on Monday, August 5th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $233.50.

IDEX Trading Up 1.0 %

Shares of NYSE:IEX opened at $204.69 on Wednesday. IDEX Co. has a 1 year low of $183.76 and a 1 year high of $246.36. The stock’s fifty day moving average price is $200.46 and its 200-day moving average price is $214.32. The company has a market cap of $15.49 billion, a P/E ratio of 26.93, a PEG ratio of 2.09 and a beta of 0.95. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.41 and a quick ratio of 2.52.

IDEX (NYSE:IEX) last announced its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $2.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.04 by $0.02. IDEX had a net margin of 18.19% and a return on equity of 16.87%. The firm had revenue of $807.20 million for the quarter, compared to the consensus estimate of $828.15 million. During the same quarter last year, the firm posted $2.18 EPS. The business’s quarterly revenue was down 4.6% compared to the same quarter last year. Sell-side analysts expect that IDEX Co. will post 7.88 earnings per share for the current year.

IDEX Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 26th. Shareholders of record on Friday, July 12th were paid a dividend of $0.69 per share. The ex-dividend date was Friday, July 12th. This represents a $2.76 dividend on an annualized basis and a yield of 1.35%. IDEX’s dividend payout ratio is presently 36.32%.

IDEX 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.