Kentucky Retirement Systems Sells 430 Shares of IDEX Co. (NYSE:IEX)

Kentucky Retirement Systems trimmed its holdings in IDEX Co. (NYSE:IEX) by 7.5% during the third quarter, Holdings Channel reports. The firm owned 5,274 shares of the industrial products company’s stock after selling 430 shares during the quarter. Kentucky Retirement Systems’ holdings in IDEX were worth $1,131,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Blair William & Co. IL boosted its holdings in shares of IDEX by 6.3% during the 1st quarter. Blair William & Co. IL now owns 3,104 shares of the industrial products company’s stock worth $757,000 after buying an additional 183 shares in the last quarter. Covestor Ltd boosted its stake in IDEX by 60.6% during the first quarter. Covestor Ltd now owns 546 shares of the industrial products company’s stock worth $133,000 after acquiring an additional 206 shares in the last quarter. O Shaughnessy Asset Management LLC grew its holdings in IDEX by 33.4% in the first quarter. O Shaughnessy Asset Management LLC now owns 2,752 shares of the industrial products company’s stock worth $672,000 after purchasing an additional 689 shares during the period. UniSuper Management Pty Ltd increased its stake in IDEX by 418.9% in the first quarter. UniSuper Management Pty Ltd now owns 4,795 shares of the industrial products company’s stock valued at $1,170,000 after purchasing an additional 3,871 shares in the last quarter. Finally, Bessemer Group Inc. raised its holdings in shares of IDEX by 7.5% during the first quarter. Bessemer Group Inc. now owns 1,179 shares of the industrial products company’s stock valued at $287,000 after purchasing an additional 82 shares during the period. Institutional investors own 97.96% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on IEX. Oppenheimer decreased their target price on IDEX from $245.00 to $238.00 and set an “outperform” rating for the company in a research report on Monday, August 5th. Argus downgraded shares of IDEX from a “buy” rating to a “hold” rating in a research report on Wednesday, August 14th. DA Davidson lowered their price objective on shares of IDEX from $220.00 to $210.00 and set a “neutral” rating on the stock in a report on Monday, August 5th. Royal Bank of Canada boosted their target price on shares of IDEX from $236.00 to $248.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Finally, Stifel Nicolaus upped their target price on shares of IDEX from $232.00 to $244.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $241.14.

IDEX Stock Down 0.5 %

IDEX stock opened at $226.66 on Tuesday. IDEX Co. has a fifty-two week low of $189.51 and a fifty-two week high of $246.36. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.11 and a current ratio of 2.97. The firm’s 50-day simple moving average is $212.80 and its 200 day simple moving average is $207.63. The stock has a market cap of $17.16 billion, a PE ratio of 35.09, a price-to-earnings-growth ratio of 2.41 and a beta of 0.96.

IDEX (NYSE:IEX) last announced its earnings results on Tuesday, October 29th. The industrial products company reported $1.90 earnings per share for the quarter, topping analysts’ consensus estimates of $1.89 by $0.01. The firm had revenue of $798.20 million for the quarter, compared to the consensus estimate of $793.05 million. IDEX had a return on equity of 15.92% and a net margin of 15.35%. The company’s revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.12 EPS. Research analysts predict that IDEX Co. will post 7.88 EPS for the current fiscal year.

IDEX Announces Dividend

The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date is Friday, January 17th. IDEX’s payout ratio is 42.72%.

About IDEX

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.