Corient Private Wealth LLC Buys 2,399 Shares of IDEX Co. (NYSE:IEX)

Corient Private Wealth LLC grew its stake in IDEX Co. (NYSE:IEXFree Report) by 3.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 68,187 shares of the industrial products company’s stock after purchasing an additional 2,399 shares during the quarter. Corient Private Wealth LLC owned approximately 0.09% of IDEX worth $14,804,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Norges Bank bought a new stake in IDEX in the 4th quarter valued at $237,425,000. Alecta Tjanstepension Omsesidigt lifted its stake in shares of IDEX by 420.8% in the fourth quarter. Alecta Tjanstepension Omsesidigt now owns 781,172 shares of the industrial products company’s stock valued at $169,600,000 after buying an additional 631,172 shares in the last quarter. Ameriprise Financial Inc. grew its position in IDEX by 316.9% in the 3rd quarter. Ameriprise Financial Inc. now owns 368,849 shares of the industrial products company’s stock worth $76,667,000 after purchasing an additional 280,385 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in IDEX by 6,079.1% in the 4th quarter. Assenagon Asset Management S.A. now owns 189,143 shares of the industrial products company’s stock valued at $41,065,000 after buying an additional 186,082 shares during the last quarter. Finally, Nordea Investment Management AB boosted its stake in shares of IDEX by 1,196.4% in the 4th quarter. Nordea Investment Management AB now owns 135,825 shares of the industrial products company’s stock worth $29,598,000 after buying an additional 125,348 shares during the last quarter. Institutional investors and hedge funds own 97.96% of the company’s stock.

IDEX Stock Performance

IEX stock traded down $0.39 during midday trading on Friday, reaching $215.15. 493,996 shares of the company’s stock traded hands, compared to its average volume of 409,066. IDEX Co. has a 52 week low of $183.76 and a 52 week high of $246.36. The company 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 debt-to-equity ratio of 0.37, a quick ratio of 2.45 and a current ratio of 3.37. The firm has a market capitalization of $16.28 billion, a PE ratio of 28.31, a price-to-earnings-growth ratio of 2.16 and a beta of 0.99.

IDEX (NYSE:IEXGet Free Report) last released its quarterly earnings results 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. IDEX had a net margin of 17.89% and a return on equity of 17.60%. The firm had revenue of $801.00 million for the quarter, compared to analysts’ expectations of $807.52 million. During the same quarter in the prior year, the firm posted $2.09 earnings per share. The business’s quarterly revenue was down 5.3% on a year-over-year basis. As a group, equities analysts anticipate that IDEX Co. will post 8.31 EPS for the current year.

IDEX Increases Dividend

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

Wall Street Analysts Forecast Growth

IEX has been the topic of several research analyst reports. StockNews.com raised IDEX from a “hold” rating to a “buy” rating in a research report on Saturday, May 18th. Oppenheimer raised their price objective on shares of IDEX from $245.00 to $252.00 and gave the stock an “outperform” rating in a report on Thursday, April 18th. Robert W. Baird dropped their target price on shares of IDEX from $260.00 to $256.00 and set an “outperform” rating on the stock in a research note on Thursday, April 25th. Citigroup lifted their price target on shares of IDEX from $254.00 to $277.00 and gave the stock a “buy” rating in a report on Monday, April 8th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $255.00 price objective on shares of IDEX in a report on Thursday, March 21st. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, IDEX currently has a consensus rating of “Moderate Buy” and an average price target of $250.71.

View Our Latest Research Report on IDEX

About IDEX

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for IDEX (NYSE:IEX)

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