IDEX Co. (NYSE:IEX) Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its stake in shares of IDEX Co. (NYSE:IEX) by 0.5% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 645,425 shares of the industrial products company’s stock after selling 2,962 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in IDEX were worth $138,444,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in IEX. Catalyst Capital Advisors LLC boosted its holdings in IDEX by 73.8% in the third quarter. Catalyst Capital Advisors LLC now owns 139 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 59 shares during the last quarter. Assetmark Inc. acquired a new stake in IDEX during the 3rd quarter worth approximately $39,000. EdgeRock Capital LLC purchased a new position in IDEX in the second quarter valued at approximately $41,000. Whittier Trust Co. lifted 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 valued at $42,000 after buying an additional 58 shares in the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt grew 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 buying an additional 100 shares during the period. 97.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on IEX. Stifel Nicolaus lifted their target price on shares of IDEX from $232.00 to $244.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Oppenheimer reduced their price objective on IDEX from $245.00 to $238.00 and set an “outperform” rating on the stock in a research note on Monday, August 5th. DA Davidson lowered their target price on IDEX from $220.00 to $210.00 and set a “neutral” rating for the company in a research note on Monday, August 5th. Argus lowered IDEX from a “buy” rating to a “hold” rating in a research report on Wednesday, August 14th. Finally, TD Cowen dropped their price objective on shares of IDEX from $240.00 to $230.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $241.14.

IDEX Stock Performance

Shares of IEX opened at $230.63 on Monday. The business’s fifty day moving average price is $217.66 and its 200 day moving average price is $208.15. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.97 and a quick ratio of 2.11. IDEX Co. has a 12-month low of $189.51 and a 12-month high of $246.36. The stock has a market capitalization of $17.46 billion, a PE ratio of 35.70, a price-to-earnings-growth ratio of 2.44 and a beta of 0.96.

IDEX (NYSE:IEX) last announced its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.01. The business had revenue of $798.20 million for the quarter, compared to the consensus estimate of $793.05 million. IDEX had a return on equity of 15.92% and a net margin of 15.35%. The business’s revenue was up .6% on a year-over-year basis. During the same quarter last year, the business posted $2.12 EPS. Equities research analysts forecast that IDEX Co. will post 7.89 EPS for the current year.

IDEX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 17th will be given a $0.69 dividend. The ex-dividend date is Friday, January 17th. This represents a $2.76 dividend on an annualized basis and a yield of 1.20%. IDEX’s dividend payout ratio is presently 42.72%.

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.