Kentucky Retirement Systems Insurance Trust Fund Sells 200 Shares of IDEX Co. (NYSE:IEX)

Kentucky Retirement Systems Insurance Trust Fund cut its position in shares of IDEX Co. (NYSE:IEX) by 8.2% in the third quarter, Holdings Channel.com reports. The institutional investor owned 2,241 shares of the industrial products company’s stock after selling 200 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in IDEX were worth $481,000 at the end of the most recent reporting period.

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

IDEX Stock Down 0.5 %

Shares of IEX opened at $226.66 on Tuesday. The firm has a fifty day moving average price of $212.80 and a 200-day moving average price of $207.63. The company has a current ratio of 2.97, a quick ratio of 2.11 and a debt-to-equity ratio of 0.54. The firm has a market capitalization of $17.16 billion, a P/E ratio of 35.09, 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 announced its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $1.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.89 by $0.01. The firm had revenue of $798.20 million during the quarter, compared to analyst estimates 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 quarter in the previous year, the business earned $2.12 earnings per share. Equities research analysts expect that IDEX Co. will post 7.88 earnings per share for the current year.

IDEX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 17th will be paid a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date of this dividend is Friday, January 17th. IDEX’s dividend payout ratio (DPR) is presently 42.72%.

Wall Street Analyst Weigh In

IEX has been the subject of a number of analyst reports. Argus downgraded shares of IDEX from a “buy” rating to a “hold” rating in a report on Wednesday, August 14th. Robert W. Baird lowered their price objective on IDEX from $245.00 to $241.00 and set an “outperform” rating for the company in a research note on Thursday, October 31st. DA Davidson cut their target price on IDEX from $220.00 to $210.00 and set a “neutral” rating on the stock in a research report on Monday, August 5th. Oppenheimer dropped their price objective on shares of IDEX from $245.00 to $238.00 and set an “outperform” rating for the company in a research note on Monday, August 5th. Finally, Stifel Nicolaus increased their target price on shares of IDEX from $232.00 to $244.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, IDEX presently has an average rating of “Moderate Buy” and an average target price of $241.14.

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.