American International Group Inc. Sells 486 Shares of IDEX Co. (NYSE:IEX)

American International Group Inc. decreased its position in IDEX Co. (NYSE:IEX) by 2.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,884 shares of the industrial products company’s stock after selling 486 shares during the quarter. American International Group Inc.’s holdings in IDEX were worth $4,317,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in IEX. Kestra Advisory Services LLC increased its stake in IDEX by 30.1% in the 3rd quarter. Kestra Advisory Services LLC now owns 2,576 shares of the industrial products company’s stock worth $536,000 after acquiring an additional 596 shares during the last quarter. Rafferty Asset Management LLC increased its stake in IDEX by 10.2% in the 3rd quarter. Rafferty Asset Management LLC now owns 6,012 shares of the industrial products company’s stock worth $1,251,000 after acquiring an additional 555 shares during the last quarter. LPL Financial LLC increased its position in shares of IDEX by 36.5% during the 3rd quarter. LPL Financial LLC now owns 17,407 shares of the industrial products company’s stock valued at $3,621,000 after purchasing an additional 4,652 shares during the last quarter. Mariner LLC increased its position in shares of IDEX by 15.2% during the 3rd quarter. Mariner LLC now owns 7,976 shares of the industrial products company’s stock valued at $1,659,000 after purchasing an additional 1,054 shares during the last quarter. Finally, Federated Hermes Inc. increased its position in shares of IDEX by 49.0% during the 3rd quarter. Federated Hermes Inc. now owns 447 shares of the industrial products company’s stock valued at $93,000 after purchasing an additional 147 shares during the last quarter. Institutional investors own 97.96% of the company’s stock.

Wall Street Analysts Forecast Growth

IEX has been the topic of several analyst reports. Robert W. Baird cut their target price on IDEX from $260.00 to $256.00 and set an “outperform” rating on the stock in a research report on Thursday, April 25th. StockNews.com raised IDEX from a “hold” rating to a “buy” rating in a research report on Saturday, May 18th. Oppenheimer boosted their target price on IDEX from $245.00 to $252.00 and gave the company an “outperform” rating in a research report on Thursday, April 18th. Royal Bank of Canada reissued an “outperform” rating and set a $255.00 target price on shares of IDEX in a research report on Thursday, March 21st. Finally, Citigroup upped their price objective on IDEX from $254.00 to $277.00 and gave the company a “buy” rating in a research report on Monday, April 8th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, IDEX presently has a consensus rating of “Moderate Buy” and a consensus price target of $250.71.

IDEX Stock Performance

Shares of IDEX stock opened at $202.70 on Friday. The stock’s fifty day moving average is $215.87 and its two-hundred day moving average is $221.39. The company has a market capitalization of $15.34 billion, a PE ratio of 26.67, a price-to-earnings-growth ratio of 2.04 and a beta of 0.99. The company has a quick ratio of 2.45, a current ratio of 3.37 and a debt-to-equity ratio of 0.37. IDEX Co. has a 52 week low of $183.76 and a 52 week high of $246.36.

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

IDEX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Friday, July 12th will be issued a $0.69 dividend. This represents a $2.76 annualized dividend and a dividend yield of 1.36%. The ex-dividend date of this dividend is Friday, July 12th. IDEX’s dividend payout ratio is 36.32%.

IDEX Company 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.