IDEX Co. (NYSE:IEX) Stake Trimmed by State of Alaska Department of Revenue

State of Alaska Department of Revenue cut its position in shares of IDEX Co. (NYSE:IEX) by 12.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,667 shares of the industrial products company’s stock after selling 1,565 shares during the quarter. State of Alaska Department of Revenue’s holdings in IDEX were worth $2,287,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in IEX. UMB Bank n.a. grew its holdings in shares of IDEX by 31.0% during the second quarter. UMB Bank n.a. now owns 241 shares of the industrial products company’s stock valued at $48,000 after buying an additional 57 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in IDEX by 19.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 344 shares of the industrial products company’s stock valued at $72,000 after acquiring an additional 57 shares in the last quarter. Whittier Trust Co. increased its holdings in shares of IDEX by 38.4% in the 2nd quarter. Whittier Trust Co. now owns 209 shares of the industrial products company’s stock valued at $42,000 after purchasing an additional 58 shares during the period. Oregon Public Employees Retirement Fund lifted its position in shares of IDEX by 1.0% in the second quarter. Oregon Public Employees Retirement Fund now owns 6,476 shares of the industrial products company’s stock worth $1,303,000 after purchasing an additional 61 shares in the last quarter. Finally, Checchi Capital Advisers LLC lifted its position in shares of IDEX by 5.1% in the second quarter. Checchi Capital Advisers LLC now owns 1,385 shares of the industrial products company’s stock worth $279,000 after purchasing an additional 67 shares in the last quarter. 97.96% of the stock is currently owned by institutional investors and hedge funds.

IDEX Price Performance

Shares of NYSE:IEX opened at $216.05 on Friday. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.97 and a quick ratio of 2.52. The stock has a market capitalization of $16.35 billion, a P/E ratio of 33.44, a P/E/G ratio of 2.32 and a beta of 0.95. The business has a 50-day moving average of $207.06 and a two-hundred day moving average of $207.65. IDEX Co. has a fifty-two week low of $189.33 and a fifty-two week high of $246.36.

IDEX (NYSE:IEX) last announced its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $1.90 EPS for the quarter, beating the consensus estimate of $1.89 by $0.01. IDEX had a return on equity of 15.92% and a net margin of 15.35%. The company had revenue of $798.20 million for the quarter, compared to the consensus estimate of $793.05 million. During the same quarter last year, the company posted $2.12 earnings per share. The company’s revenue for the quarter was up .6% compared to the same quarter last year. On average, equities research analysts predict that IDEX Co. will post 7.86 EPS for the current fiscal year.

IDEX Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, October 11th were given a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date of this dividend was Friday, October 11th. IDEX’s dividend payout ratio is 42.72%.

Analyst Ratings Changes

Several research firms have weighed in on IEX. Argus lowered shares of IDEX from a “buy” rating to a “hold” rating in a research note on Wednesday, August 14th. DA Davidson dropped their price target on shares of IDEX from $220.00 to $210.00 and set a “neutral” rating on the stock in a research note on Monday, August 5th. StockNews.com cut IDEX from a “buy” rating to a “hold” rating in a research report on Thursday, July 11th. Royal Bank of Canada boosted their target price on IDEX from $236.00 to $248.00 and gave the company an “outperform” rating in a research note on Thursday. Finally, Oppenheimer cut their price target on IDEX from $245.00 to $238.00 and set an “outperform” rating for the company in a research note on Monday, August 5th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, IDEX currently has a consensus rating of “Moderate Buy” and an average target price of $241.14.

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.