IDEX Co. (NYSE:IEX) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund decreased its holdings in shares of IDEX Co. (NYSE:IEX) by 5.4% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 160,900 shares of the industrial products company’s stock after selling 9,200 shares during the quarter. New York State Common Retirement Fund owned about 0.21% of IDEX worth $33,680,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Vontobel Holding Ltd. boosted its holdings in IDEX by 7.8% in the first quarter. Vontobel Holding Ltd. now owns 24,286 shares of the industrial products company’s stock valued at $5,084,000 after acquiring an additional 1,763 shares during the last quarter. Atria Investments LLC boosted its holdings in IDEX by 40.2% in the first quarter. Atria Investments LLC now owns 9,682 shares of the industrial products company’s stock valued at $2,027,000 after acquiring an additional 2,778 shares during the last quarter. Forsta AP Fonden boosted its holdings in IDEX by 20.4% in the first quarter. Forsta AP Fonden now owns 26,000 shares of the industrial products company’s stock valued at $5,442,000 after acquiring an additional 4,400 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in IDEX by 21.5% in the first quarter. Russell Investments Group Ltd. now owns 42,487 shares of the industrial products company’s stock valued at $8,893,000 after acquiring an additional 7,521 shares during the last quarter. Finally, Pitcairn Co. acquired a new position in IDEX in the first quarter valued at $2,468,000. Institutional investors and hedge funds own 96.93% of the company’s stock.

Shares of NYSE IEX opened at $220.01 on Friday. IDEX Co. has a 1 year low of $145.85 and a 1 year high of $235.76. The stock has a market capitalization of $16.71 billion, a price-to-earnings ratio of 43.14, a price-to-earnings-growth ratio of 3.01 and a beta of 1.09. The company has a debt-to-equity ratio of 0.40, a quick ratio of 3.57 and a current ratio of 4.37. The stock’s 50-day simple moving average is $221.70.

IDEX (NYSE:IEX) last announced its earnings results on Monday, April 26th. The industrial products company reported $1.51 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.41 by $0.10. IDEX had a return on equity of 16.70% and a net margin of 16.13%. The business had revenue of $652.04 million for the quarter, compared to analyst estimates of $634.96 million. During the same period in the previous year, the company earned $1.33 earnings per share. The company’s revenue for the quarter was up 9.7% compared to the same quarter last year. On average, research analysts expect that IDEX Co. will post 6.16 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, May 28th. Stockholders of record on Monday, May 24th were given a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 0.98%. This is a positive change from IDEX’s previous quarterly dividend of $0.50. The ex-dividend date was Friday, May 21st. IDEX’s payout ratio is presently 41.62%.

In related news, SVP Denise R. Cade sold 10,835 shares of the business’s stock in a transaction dated Monday, May 10th. The stock was sold at an average price of $228.00, for a total value of $2,470,380.00. Following the completion of the sale, the senior vice president now directly owns 10,893 shares of the company’s stock, valued at $2,483,604. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Denise R. Cade sold 2,165 shares of IDEX stock in a transaction that occurred on Wednesday, May 5th. The shares were sold at an average price of $228.00, for a total value of $493,620.00. Following the completion of the transaction, the senior vice president now owns 9,824 shares of the company’s stock, valued at $2,239,872. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by insiders.

A number of brokerages recently weighed in on IEX. Wells Fargo & Company lifted their target price on IDEX from $240.00 to $260.00 and gave the company an “overweight” rating in a report on Monday, May 3rd. Royal Bank of Canada boosted their price objective on IDEX from $232.00 to $247.00 and gave the stock an “outperform” rating in a research note on Thursday, April 29th. Morgan Stanley boosted their price objective on IDEX from $230.00 to $250.00 and gave the stock an “overweight” rating in a research note on Thursday, April 29th. Rosenblatt Securities boosted their price objective on IDEX from $225.00 to $255.00 and gave the stock a “buy” rating in a research note on Monday, May 3rd. Finally, DA Davidson boosted their price objective on IDEX from $190.00 to $205.00 and gave the stock a “neutral” rating in a research note on Thursday, April 29th. They noted that the move was a valuation call. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $223.44.

IDEX Profile

IDEX Corporation, together with its subsidiaries, operates as an applied solutions company 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, small volume provers, flow meters, injectors, and other fluid-handling pump modules and systems, as well as offers flow monitoring and other services for the food, chemical, general industrial, water and wastewater, agricultural, and energy industries.

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Institutional Ownership by Quarter for IDEX (NYSE:IEX)

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