IDEX Co. (NYSE:IEX) COO Sells $953,472.16 in Stock

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IDEX Co. (NYSE:IEX) COO Eric D. Ashleman sold 5,608 shares of the company’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $170.02, for a total value of $953,472.16. Following the sale, the chief operating officer now owns 25,375 shares of the company’s stock, valued at approximately $4,314,257.50. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Shares of NYSE:IEX opened at $158.12 on Thursday. The firm’s 50 day simple moving average is $167.58. IDEX Co. has a twelve month low of $117.72 and a twelve month high of $173.84. The company has a market cap of $11.91 billion, a P/E ratio of 29.23, a price-to-earnings-growth ratio of 2.77 and a beta of 1.23. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.53 and a current ratio of 3.36.

IDEX (NYSE:IEX) last announced its earnings results on Thursday, July 25th. The industrial products company reported $1.50 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.01. IDEX had a return on equity of 21.20% and a net margin of 17.11%. The firm had revenue of $642.10 million during the quarter, compared to the consensus estimate of $655.87 million. During the same quarter in the prior year, the company earned $1.40 EPS. The firm’s revenue for the quarter was up 1.2% compared to the same quarter last year. On average, research analysts predict that IDEX Co. will post 5.83 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Tuesday, July 16th were given a $0.50 dividend. The ex-dividend date was Monday, July 15th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.26%. IDEX’s dividend payout ratio is currently 36.97%.

Several hedge funds have recently made changes to their positions in the business. Cornerstone Advisors Inc. raised its holdings in shares of IDEX by 64.9% in the 1st quarter. Cornerstone Advisors Inc. now owns 183 shares of the industrial products company’s stock worth $28,000 after buying an additional 72 shares in the last quarter. Parallel Advisors LLC raised its holdings in shares of IDEX by 55.7% in the 1st quarter. Parallel Advisors LLC now owns 204 shares of the industrial products company’s stock worth $31,000 after buying an additional 73 shares in the last quarter. Cullen Frost Bankers Inc. acquired a new position in shares of IDEX in the 2nd quarter worth approximately $33,000. Pendal Group Ltd acquired a new position in shares of IDEX in the 2nd quarter worth approximately $47,000. Finally, FTB Advisors Inc. acquired a new position in shares of IDEX in the 2nd quarter worth approximately $73,000. Institutional investors own 94.59% of the company’s stock.

Several analysts recently weighed in on the company. Berenberg Bank assumed coverage on IDEX in a research note on Wednesday, May 15th. They set a “buy” rating and a $180.00 target price for the company. DA Davidson restated a “neutral” rating on shares of IDEX in a research note on Friday, April 26th. Oppenheimer restated a “hold” rating on shares of IDEX in a research note on Wednesday, May 8th. Zacks Investment Research downgraded IDEX from a “buy” rating to a “hold” rating and set a $181.00 target price for the company. in a research note on Monday, July 1st. Finally, Wells Fargo & Co increased their target price on IDEX from $180.00 to $200.00 and gave the company an “outperform” rating in a research note on Tuesday, July 23rd. Seven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $162.38.

IDEX Company Profile

IDEX Corporation, through its subsidiaries, operates as an applied solutions company 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, flow meters, injectors, and other fluid-handling pump modules and systems, as well as offers flow monitoring and other services for the food, chemical, general industrial, water and wastewater, agricultural, and energy industries.

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