Citigroup Inc. Has $19.50 Million Stock Position in IDEX Co. (NYSE:IEX)

Citigroup Inc. lifted its position in shares of IDEX Co. (NYSE:IEX) by 24.1% during the 3rd quarter, Holdings Channel.com reports. The firm owned 90,923 shares of the industrial products company’s stock after purchasing an additional 17,662 shares during the quarter. Citigroup Inc.’s holdings in IDEX were worth $19,503,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Catalyst Capital Advisors LLC boosted its stake in IDEX by 73.8% during the third quarter. Catalyst Capital Advisors LLC now owns 139 shares of the industrial products company’s stock worth $30,000 after buying an additional 59 shares in the last quarter. Assetmark Inc. bought a new position in shares of IDEX during the 3rd quarter worth about $39,000. Livforsakringsbolaget Skandia Omsesidigt boosted its position in shares of IDEX by 100.0% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 200 shares of the industrial products company’s stock valued at $43,000 after acquiring an additional 100 shares in the last quarter. EdgeRock Capital LLC bought a new stake in IDEX in the second quarter valued at about $41,000. Finally, Whittier Trust Co. raised its position in IDEX by 38.4% in the second quarter. Whittier Trust Co. now owns 209 shares of the industrial products company’s stock worth $42,000 after purchasing an additional 58 shares in the last quarter. 97.96% of the stock is currently owned by institutional investors.

IDEX Stock Down 1.7 %

Shares of NYSE:IEX opened at $232.02 on Wednesday. The company has a quick ratio of 2.11, a current ratio of 2.97 and a debt-to-equity ratio of 0.54. The firm has a market cap of $17.57 billion, a P/E ratio of 35.92, a P/E/G ratio of 2.46 and a beta of 0.96. IDEX Co. has a 12 month low of $189.51 and a 12 month high of $246.36. The company’s 50-day moving average price is $215.75 and its two-hundred day moving average price is $207.86.

IDEX (NYSE:IEX) last released its quarterly earnings results 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 net margin of 15.35% and a return on equity of 15.92%. The business had revenue of $798.20 million for the quarter, compared to analysts’ expectations of $793.05 million. During the same period in the prior year, the firm earned $2.12 earnings per share. IDEX’s revenue was up .6% compared to the same quarter last year. As a group, research analysts forecast that IDEX Co. will post 7.88 EPS for the current fiscal year.

IDEX Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 17th will be paid a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a dividend yield of 1.19%. The ex-dividend date of this dividend is Friday, January 17th. IDEX’s dividend payout ratio (DPR) is presently 42.72%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on IEX shares. Argus lowered IDEX from a “buy” rating to a “hold” rating in a research note on Wednesday, August 14th. Stifel Nicolaus increased their price objective on IDEX from $232.00 to $244.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. DA Davidson reduced their target price on shares of IDEX from $220.00 to $210.00 and set a “neutral” rating on the stock in a research note on Monday, August 5th. TD Cowen cut their price target 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. Finally, Oppenheimer decreased their price objective on shares of IDEX from $245.00 to $238.00 and set an “outperform” rating on the stock in a research note on Monday, August 5th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target 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.