IDEX Co. (NYSE:IEX) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. decreased its position in shares of IDEX Co. (NYSE:IEX) by 1.4% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 26,883 shares of the industrial products company’s stock after selling 395 shares during the quarter. PNC Financial Services Group Inc.’s holdings in IDEX were worth $5,836,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in IEX. Planned Solutions Inc. purchased a new position in shares of IDEX in the 4th quarter valued at approximately $33,000. Quarry LP purchased a new position in shares of IDEX in the 4th quarter valued at approximately $36,000. EdgeRock Capital LLC purchased a new position in shares of IDEX in the 4th quarter valued at approximately $48,000. VisionPoint Advisory Group LLC purchased a new position in shares of IDEX in the 4th quarter valued at approximately $50,000. Finally, Headlands Technologies LLC purchased a new position in shares of IDEX in the 4th quarter valued at approximately $52,000. Institutional investors and hedge funds own 97.96% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on IEX shares. Citigroup lifted their target price on IDEX from $254.00 to $277.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Oppenheimer lifted their price target on IDEX from $245.00 to $252.00 and gave the company an “outperform” rating in a research note on Thursday, April 18th. Royal Bank of Canada restated an “outperform” rating and issued a $255.00 price target on shares of IDEX in a research note on Thursday, March 21st. Robert W. Baird decreased their price target on IDEX from $260.00 to $256.00 and set an “outperform” rating on the stock in a research note on Thursday, April 25th. Finally, StockNews.com upgraded IDEX from a “hold” rating to a “buy” rating in a research note on Saturday, May 18th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, IDEX currently has an average rating of “Moderate Buy” and an average target price of $250.71.

IDEX Stock Up 1.0 %

IEX opened at $200.29 on Tuesday. The business’s fifty day moving average is $219.37 and its two-hundred day moving average is $221.54. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.45 and a current ratio of 3.37. The company has a market cap of $15.16 billion, a price-to-earnings ratio of 26.35, a PEG ratio of 1.99 and a beta of 0.99. IDEX Co. has a one year low of $183.76 and a one year high of $246.36.

IDEX (NYSE:IEX) last posted its earnings results on Tuesday, April 23rd. The industrial products company reported $1.88 EPS for the quarter, topping analysts’ consensus estimates of $1.76 by $0.12. The company had revenue of $801.00 million for the quarter, compared to the consensus estimate of $807.52 million. IDEX had a return on equity of 17.60% and a net margin of 17.89%. IDEX’s quarterly revenue was down 5.3% compared to the same quarter last year. During the same period in the previous year, the business earned $2.09 earnings per share. Analysts anticipate that IDEX Co. will post 8.31 EPS for the current fiscal year.

IDEX Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Friday, May 17th were given a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a yield of 1.38%. This is an increase from IDEX’s previous quarterly dividend of $0.64. The ex-dividend date was Thursday, May 16th. IDEX’s 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.