IDEX Co. (NYSE:IEX) Shares Sold by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky cut its stake in IDEX Co. (NYSE:IEX) by 6.0% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,655 shares of the industrial products company’s stock after selling 359 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in IDEX were worth $1,213,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

Several research firms recently commented on IEX. Robert W. Baird cut their price target on shares of IDEX from $245.00 to $241.00 and set an “outperform” rating on the stock in a report on Thursday, October 31st. Royal Bank of Canada raised their target price on shares of IDEX from $248.00 to $258.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. Citigroup upped their price target on shares of IDEX from $251.00 to $269.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Finally, Stifel Nicolaus raised their price objective on IDEX from $244.00 to $256.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $243.14.

IDEX Stock Performance

Shares of IEX stock opened at $222.26 on Wednesday. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.97 and a quick ratio of 2.11. The company’s fifty day moving average price is $221.47 and its two-hundred day moving average price is $209.09. The firm has a market capitalization of $16.83 billion, a P/E ratio of 34.41, a P/E/G ratio of 2.41 and a beta of 0.96. IDEX Co. has a 12 month low of $189.51 and a 12 month high of $246.36.

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

IDEX Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 17th will be given a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date is Friday, January 17th. IDEX’s payout ratio is currently 42.72%.

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.