Northstar Asset Management Inc. Grows Holdings in IDEX Co. (NYSE:IEX)

Northstar Asset Management Inc. boosted its holdings in shares of IDEX Co. (NYSE:IEX) by 5.6% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 39,698 shares of the industrial products company’s stock after purchasing an additional 2,096 shares during the period. IDEX makes up 2.1% of Northstar Asset Management Inc.’s investment portfolio, making the stock its 24th largest holding. Northstar Asset Management Inc. owned about 0.05% of IDEX worth $8,515,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Price T Rowe Associates Inc. MD raised its position in 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 worth $1,943,609,000 after buying an additional 555,250 shares during the last quarter. Van ECK Associates Corp raised its stake in shares of IDEX by 9,424.6% during the 3rd quarter. Van ECK Associates Corp now owns 1,032,277 shares of the industrial products company’s stock worth $211,473,000 after buying an additional 1,021,439 shares in the last quarter. Hsbc Holdings PLC lifted its holdings in shares of IDEX by 75.6% in the 2nd quarter. Hsbc Holdings PLC now owns 519,124 shares of the industrial products company’s stock valued at $104,179,000 after buying an additional 223,422 shares during the period. Dimensional Fund Advisors LP grew its holdings in IDEX by 20.0% during the second quarter. Dimensional Fund Advisors LP now owns 470,672 shares of the industrial products company’s stock worth $94,698,000 after acquiring an additional 78,551 shares during the period. Finally, Ceredex Value Advisors LLC raised its position in IDEX by 4.8% in the third quarter. Ceredex Value Advisors LLC now owns 436,550 shares of the industrial products company’s stock worth $93,640,000 after acquiring an additional 20,175 shares in the last quarter. 97.96% of the stock is owned by hedge funds and other institutional investors.

IDEX Price Performance

NYSE:IEX opened at $224.71 on Wednesday. IDEX Co. has a 12-month low of $189.33 and a 12-month high of $246.36. The firm has a market cap of $17.02 billion, a price-to-earnings ratio of 34.78, a price-to-earnings-growth ratio of 2.29 and a beta of 0.96. The company’s 50-day moving average is $207.78 and its two-hundred day moving average is $207.29. The company has a current ratio of 2.97, a quick ratio of 2.11 and a debt-to-equity ratio of 0.54.

IDEX (NYSE:IEX) last issued its earnings results on Tuesday, October 29th. The industrial products company reported $1.90 earnings per share for the quarter, beating analysts’ consensus estimates of $1.89 by $0.01. The firm had revenue of $798.20 million for the quarter, compared to analysts’ expectations of $793.05 million. IDEX had a return on equity of 15.92% and a net margin of 15.35%. The firm’s revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter last year, the firm earned $2.12 earnings per share. Research analysts expect that IDEX Co. will post 7.87 EPS for the current year.

IDEX Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, October 11th were issued a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date was Friday, October 11th. IDEX’s dividend payout ratio is presently 42.72%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Stifel Nicolaus upped their price target on shares of IDEX from $232.00 to $244.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. TD Cowen dropped their target price on shares of IDEX from $240.00 to $230.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Robert W. Baird decreased their price target on IDEX from $245.00 to $241.00 and set an “outperform” rating on the stock in a research note on Thursday, October 31st. Royal Bank of Canada raised their price objective on IDEX from $236.00 to $248.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Finally, Oppenheimer dropped their price target on IDEX from $245.00 to $238.00 and set an “outperform” rating for the company in a research report on Monday, August 5th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average 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.