State Board of Administration of Florida Retirement System decreased its stake in IDEX Co. (NYSE:IEX) by 0.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 107,122 shares of the industrial products company’s stock after selling 395 shares during the period. State Board of Administration of Florida Retirement System owned 0.14% of IDEX worth $13,525,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Advisors Asset Management Inc. lifted its holdings in shares of IDEX by 21.1% in the second quarter. Advisors Asset Management Inc. now owns 11,068 shares of the industrial products company’s stock worth $1,511,000 after buying an additional 1,932 shares in the last quarter. FMR LLC lifted its holdings in shares of IDEX by 4.0% in the second quarter. FMR LLC now owns 1,040,468 shares of the industrial products company’s stock worth $142,003,000 after buying an additional 40,153 shares in the last quarter. DNB Asset Management AS lifted its holdings in shares of IDEX by 7.8% in the third quarter. DNB Asset Management AS now owns 13,265 shares of the industrial products company’s stock worth $1,999,000 after buying an additional 965 shares in the last quarter. First Hawaiian Bank purchased a new position in shares of IDEX in the third quarter worth $120,000. Finally, Andra AP fonden lifted its holdings in shares of IDEX by 7.0% in the third quarter. Andra AP fonden now owns 29,000 shares of the industrial products company’s stock worth $4,369,000 after buying an additional 1,900 shares in the last quarter. 94.40% of the stock is currently owned by institutional investors and hedge funds.
IEX traded down $0.20 during trading hours on Monday, hitting $139.82. The company’s stock had a trading volume of 1,282 shares, compared to its average volume of 310,054. IDEX Co. has a 12 month low of $117.72 and a 12 month high of $157.84. The stock has a market capitalization of $10.74 billion, a PE ratio of 25.92, a P/E/G ratio of 2.38 and a beta of 1.27. The company has a debt-to-equity ratio of 0.43, a quick ratio of 2.23 and a current ratio of 3.00.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 30th. Shareholders of record on Tuesday, January 15th were given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date was Monday, January 14th. IDEX’s dividend payout ratio (DPR) is 31.79%.
IEX has been the topic of several research reports. Royal Bank of Canada upgraded shares of IDEX from a “sector perform” rating to an “outperform” rating and boosted their price target for the stock from $141.00 to $146.00 in a research report on Thursday, January 3rd. UBS Group set a $142.00 price target on shares of IDEX and gave the stock a “hold” rating in a research report on Friday, October 26th. Robert W. Baird reduced their price target on shares of IDEX from $145.00 to $139.00 and set an “outperform” rating on the stock in a research report on Thursday, October 25th. Zacks Investment Research cut shares of IDEX from a “hold” rating to a “sell” rating in a research report on Tuesday, October 16th. Finally, Janney Montgomery Scott upgraded shares of IDEX from a “neutral” rating to a “buy” rating and set a $149.00 price target on the stock in a research report on Thursday, October 25th. Eight analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $145.70.
IDEX Corporation, through 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, 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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