Corient Private Wealth LLC Reduces Holdings in IDEX Corporation $IEX

Corient Private Wealth LLC lowered its stake in shares of IDEX Corporation (NYSE:IEX) by 3.6% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 221,792 shares of the industrial products company’s stock after selling 8,313 shares during the period. Corient Private Wealth LLC’s holdings in IDEX were worth $38,940,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Horizon Investments LLC grew its holdings in shares of IDEX by 5.2% during the 1st quarter. Horizon Investments LLC now owns 1,087 shares of the industrial products company’s stock worth $197,000 after acquiring an additional 54 shares during the period. Empowered Funds LLC boosted its position in shares of IDEX by 3.4% during the first quarter. Empowered Funds LLC now owns 1,646 shares of the industrial products company’s stock valued at $298,000 after purchasing an additional 54 shares in the last quarter. Cullen Frost Bankers Inc. grew its stake in IDEX by 2.0% in the second quarter. Cullen Frost Bankers Inc. now owns 3,112 shares of the industrial products company’s stock worth $546,000 after purchasing an additional 60 shares during the period. Blue Trust Inc. grew its stake in IDEX by 21.5% in the second quarter. Blue Trust Inc. now owns 446 shares of the industrial products company’s stock worth $78,000 after purchasing an additional 79 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. lifted its position in IDEX by 257.5% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 143 shares of the industrial products company’s stock valued at $25,000 after buying an additional 103 shares during the period. 97.96% of the stock is currently owned by hedge funds and other institutional investors.

IDEX Trading Down 0.9%

NYSE:IEX opened at $177.08 on Wednesday. The stock has a market cap of $13.25 billion, a price-to-earnings ratio of 28.02, a PEG ratio of 1.89 and a beta of 1.01. The company has a quick ratio of 2.06, a current ratio of 2.93 and a debt-to-equity ratio of 0.47. The company’s 50 day moving average price is $169.84 and its 200-day moving average price is $170.58. IDEX Corporation has a 52 week low of $153.36 and a 52 week high of $226.04.

IDEX (NYSE:IEX) last announced its quarterly earnings data on Friday, December 16th. The industrial products company reported $1.79 earnings per share for the quarter. The company had revenue of $712.00 million during the quarter. IDEX had a net margin of 13.97% and a return on equity of 15.20%. On average, equities research analysts forecast that IDEX Corporation will post 8.26 earnings per share for the current fiscal year.

IDEX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 30th. Investors of record on Friday, January 16th will be given a dividend of $0.71 per share. The ex-dividend date of this dividend is Friday, January 16th. This represents a $2.84 annualized dividend and a dividend yield of 1.6%. IDEX’s dividend payout ratio (DPR) is 44.94%.

IDEX declared that its Board of Directors has authorized a share buyback program on Thursday, September 18th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the industrial products company to reacquire up to 8.3% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

Several brokerages recently issued reports on IEX. Oppenheimer set a $210.00 price target on shares of IDEX in a research note on Tuesday, October 7th. Royal Bank Of Canada decreased their target price on shares of IDEX from $200.00 to $195.00 and set an “outperform” rating for the company in a research note on Thursday, October 30th. Citigroup lifted their target price on shares of IDEX from $197.00 to $202.00 and gave the company a “buy” rating in a report on Monday, December 8th. Weiss Ratings restated a “hold (c-)” rating on shares of IDEX in a research note on Wednesday, October 8th. Finally, Cowen reaffirmed a “buy” rating on shares of IDEX in a research report on Wednesday, December 3rd. Five investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, IDEX currently has an average rating of “Moderate Buy” and an average target price of $196.86.

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.