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

Kentucky Retirement Systems Insurance Trust Fund lowered its position in shares of IDEX Co. (NYSE:IEX) by 8.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. 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 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in IEX. Price T Rowe Associates Inc. MD increased its holdings in shares of IDEX by 7.5% in the 1st 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 in the last quarter. Van ECK Associates Corp boosted its position in shares of IDEX by 9,424.6% during the third quarter. Van ECK Associates Corp now owns 1,032,277 shares of the industrial products company’s stock valued at $211,473,000 after buying an additional 1,021,439 shares during the last quarter. Hsbc Holdings PLC increased its holdings in IDEX by 75.6% in the 2nd quarter. Hsbc Holdings PLC now owns 519,124 shares of the industrial products company’s stock worth $104,179,000 after buying an additional 223,422 shares in the last quarter. Dimensional Fund Advisors LP raised its position in IDEX by 20.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 470,672 shares of the industrial products company’s stock worth $94,698,000 after buying an additional 78,551 shares during the last quarter. Finally, Ceredex Value Advisors LLC lifted its stake in IDEX by 4.8% during the 3rd quarter. Ceredex Value Advisors LLC now owns 436,550 shares of the industrial products company’s stock valued at $93,640,000 after acquiring an additional 20,175 shares during the period. 97.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

IEX has been the subject of a number of research analyst reports. Robert W. Baird reduced their price target on shares of 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 decreased their target price on shares of IDEX from $220.00 to $210.00 and set a “neutral” rating for the company in a research note on Monday, August 5th. Argus downgraded IDEX from a “buy” rating to a “hold” rating in a research note on Wednesday, August 14th. Royal Bank of Canada upped their price objective on IDEX from $236.00 to $248.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Finally, TD Cowen dropped their target price on IDEX from $240.00 to $230.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $241.14.

IDEX Price Performance

Shares of NYSE:IEX opened at $226.66 on Tuesday. The firm’s 50 day simple moving average is $212.80 and its two-hundred day simple moving average is $207.63. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.97 and a quick ratio of 2.11. The company 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 1-year low of $189.51 and a 1-year high of $246.36.

IDEX (NYSE:IEX) last posted its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $1.90 EPS for the quarter, beating analysts’ consensus estimates of $1.89 by $0.01. The business had revenue of $798.20 million for the quarter, compared to analysts’ expectations of $793.05 million. IDEX had a return on equity of 15.92% and a net margin of 15.35%. The business’s quarterly revenue was up .6% on a year-over-year basis. During the same period last year, the firm earned $2.12 earnings per share. Research analysts expect that IDEX Co. will post 7.88 EPS for the current fiscal year.

IDEX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 17th will be given a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a dividend yield of 1.22%. The ex-dividend date of this dividend is Friday, January 17th. IDEX’s payout ratio is currently 42.72%.

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.