IDEX Co. (NYSE:IEX) Shares Sold by Kentucky Retirement Systems Insurance Trust Fund

Kentucky Retirement Systems Insurance Trust Fund lessened its position in IDEX Co. (NYSE:IEX) by 7.3% in the 1st quarter, Holdings Channel reports. The fund owned 2,496 shares of the industrial products company’s stock after selling 198 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in IDEX were worth $609,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in IEX. UBS Group AG boosted its holdings in IDEX by 177.3% in the 4th quarter. UBS Group AG now owns 57,255 shares of the industrial products company’s stock valued at $12,431,000 after purchasing an additional 36,606 shares in the last quarter. Impax Asset Management Group plc grew its holdings in IDEX by 4.0% during the fourth quarter. Impax Asset Management Group plc now owns 2,190,741 shares of the industrial products company’s stock worth $475,632,000 after acquiring an additional 84,502 shares during the period. SG Americas Securities LLC raised its position in IDEX by 241.3% in the first quarter. SG Americas Securities LLC now owns 37,561 shares of the industrial products company’s stock worth $9,166,000 after acquiring an additional 26,557 shares in the last quarter. Raymond James & Associates lifted its holdings in IDEX by 11.2% in the fourth quarter. Raymond James & Associates now owns 76,465 shares of the industrial products company’s stock valued at $16,601,000 after acquiring an additional 7,684 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of IDEX by 2.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 608,744 shares of the industrial products company’s stock worth $132,164,000 after purchasing an additional 15,202 shares in the last quarter. Hedge funds and other institutional investors own 97.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on IEX shares. StockNews.com cut shares of IDEX from a “buy” rating to a “hold” rating in a research note on Thursday, July 11th. Oppenheimer lifted their price target on shares of IDEX from $245.00 to $252.00 and gave the company an “outperform” rating in a research report on Thursday, April 18th. Citigroup upped their price target on IDEX from $254.00 to $277.00 and gave the stock a “buy” rating in a report on Monday, April 8th. Stifel Nicolaus reduced their price objective on IDEX from $265.00 to $236.00 and set a “buy” rating for the company in a report on Thursday, July 18th. Finally, Robert W. Baird lowered their target price on IDEX from $260.00 to $256.00 and set an “outperform” rating on the stock in a report on Thursday, April 25th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $246.57.

IDEX Price Performance

NYSE:IEX traded up $3.38 during trading hours on Friday, reaching $206.46. 278,603 shares of the company traded hands, compared to its average volume of 478,321. The company has a debt-to-equity ratio of 0.37, a current ratio of 3.37 and a quick ratio of 2.45. The firm’s 50-day moving average is $204.33 and its 200-day moving average is $219.61. The stock has a market cap of $15.63 billion, a P/E ratio of 27.17, a P/E/G ratio of 2.08 and a beta of 0.95. IDEX Co. has a 1-year low of $183.76 and a 1-year high of $246.36.

IDEX Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 26th. Investors of record on Friday, July 12th were given a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a yield of 1.34%. The ex-dividend date was Friday, July 12th. IDEX’s dividend payout ratio is presently 36.32%.

IDEX 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.