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

Kentucky Retirement Systems reduced its stake in IDEX Co. (NYSE:IEX) by 7.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,274 shares of the industrial products company’s stock after selling 430 shares during the period. Kentucky Retirement Systems’ holdings in IDEX were worth $1,131,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Van ECK Associates Corp grew its holdings in shares of IDEX by 9,424.6% during the 3rd quarter. Van ECK Associates Corp now owns 1,032,277 shares of the industrial products company’s stock worth $211,473,000 after purchasing an additional 1,021,439 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of IDEX by 7.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,964,956 shares of the industrial products company’s stock valued at $1,943,609,000 after buying an additional 555,250 shares in the last quarter. Hsbc Holdings PLC lifted its holdings in shares of IDEX by 75.6% during the 2nd quarter. Hsbc Holdings PLC now owns 519,124 shares of the industrial products company’s stock worth $104,179,000 after acquiring an additional 223,422 shares during the period. D. E. Shaw & Co. Inc. boosted its position in shares of IDEX by 247.0% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 198,170 shares of the industrial products company’s stock worth $39,872,000 after acquiring an additional 141,064 shares in the last quarter. Finally, Millennium Management LLC increased its stake in IDEX by 1,541.6% in the second quarter. Millennium Management LLC now owns 138,744 shares of the industrial products company’s stock valued at $27,915,000 after acquiring an additional 130,292 shares during the last quarter. Institutional investors and hedge funds own 97.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on IEX. Oppenheimer reduced their target price on IDEX from $245.00 to $238.00 and set an “outperform” rating on the stock in a report on Monday, August 5th. Stifel Nicolaus raised their price objective on IDEX from $232.00 to $244.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. DA Davidson lowered their target price on IDEX from $220.00 to $210.00 and set a “neutral” rating for the company in a research note on Monday, August 5th. Royal Bank of Canada raised their price target on shares of IDEX from $236.00 to $248.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Finally, Robert W. Baird lowered their price objective on shares of IDEX from $245.00 to $241.00 and set an “outperform” rating for the company in a research report on Thursday, October 31st. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $241.14.

IDEX Trading Down 0.5 %

IEX opened at $226.66 on Tuesday. The company’s 50 day moving average price is $212.80 and its two-hundred day moving average price is $207.63. The firm has a market capitalization of $17.16 billion, a price-to-earnings ratio of 35.09, a PEG ratio of 2.41 and a beta of 0.96. 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 current ratio of 2.97 and a quick ratio of 2.11.

IDEX (NYSE:IEX) last posted its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $1.90 earnings per share for the quarter, beating analysts’ consensus estimates of $1.89 by $0.01. The business had revenue of $798.20 million during 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%. IDEX’s quarterly revenue was up .6% on a year-over-year basis. During the same period in the prior year, the business posted $2.12 earnings per share. As a group, research analysts predict that IDEX Co. will post 7.88 earnings per share for the current year.

IDEX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders 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 yield of 1.22%. The ex-dividend date is Friday, January 17th. IDEX’s dividend payout ratio is presently 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.