Fisher Asset Management LLC Has $141.36 Million Stake in IDEX Co. (NYSE:IEX)

Fisher Asset Management LLC raised its stake in shares of IDEX Co. (NYSE:IEX) by 7.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 659,006 shares of the industrial products company’s stock after buying an additional 46,770 shares during the quarter. Fisher Asset Management LLC owned about 0.87% of IDEX worth $141,357,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. O Shaughnessy Asset Management LLC increased its stake in IDEX by 33.4% in the first quarter. O Shaughnessy Asset Management LLC now owns 2,752 shares of the industrial products company’s stock valued at $672,000 after purchasing an additional 689 shares in the last quarter. Bessemer Group Inc. raised its stake in IDEX by 7.5% during the 1st quarter. Bessemer Group Inc. now owns 1,179 shares of the industrial products company’s stock worth $287,000 after buying an additional 82 shares during the period. Silvercrest Asset Management Group LLC lifted its holdings in IDEX by 14.3% during the first quarter. Silvercrest Asset Management Group LLC now owns 12,983 shares of the industrial products company’s stock worth $3,168,000 after acquiring an additional 1,629 shares in the last quarter. Tidal Investments LLC grew its stake in IDEX by 8.8% in the first quarter. Tidal Investments LLC now owns 4,383 shares of the industrial products company’s stock valued at $1,070,000 after acquiring an additional 356 shares during the period. Finally, Comerica Bank increased its holdings in shares of IDEX by 0.3% in the first quarter. Comerica Bank now owns 74,095 shares of the industrial products company’s stock worth $18,081,000 after acquiring an additional 248 shares in the last quarter. 97.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

IDEX Stock Performance

Shares of NYSE IEX opened at $236.09 on Tuesday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.11 and a current ratio of 2.97. The stock has a 50 day moving average price of $215.75 and a 200 day moving average price of $207.86. The stock has a market capitalization of $17.88 billion, a PE ratio of 36.55, a price-to-earnings-growth ratio of 2.46 and a beta of 0.96. IDEX Co. has a 52 week low of $189.51 and a 52 week high of $246.36.

IDEX (NYSE:IEX) last released its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $1.90 EPS for the quarter, beating the consensus estimate of $1.89 by $0.01. IDEX had a return on equity of 15.92% and a net margin of 15.35%. The company had revenue of $798.20 million during the quarter, compared to the consensus estimate of $793.05 million. During the same quarter in the prior year, the firm posted $2.12 EPS. The firm’s revenue for the quarter was up .6% compared to the same quarter last year. Analysts predict that IDEX Co. will post 7.88 earnings per share for the current fiscal year.

IDEX Dividend Announcement

The company also recently announced 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 annualized dividend and a yield of 1.17%. IDEX’s dividend payout ratio (DPR) is currently 42.72%.

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.