Sumitomo Mitsui Trust Holdings Inc. lessened its position in IDEX Co. (NYSE:IEX) by 0.8% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 338,685 shares of the industrial products company’s stock after selling 2,794 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.45% of IDEX worth $53,361,000 as of its most recent filing with the SEC.
Other large investors have also recently modified their holdings of the company. Amundi Pioneer Asset Management Inc. lifted its position in IDEX by 0.4% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 69,239 shares of the industrial products company’s stock worth $10,506,000 after buying an additional 301 shares in the last quarter. Man Group plc raised its holdings in shares of IDEX by 884.4% during the 4th quarter. Man Group plc now owns 25,398 shares of the industrial products company’s stock valued at $4,368,000 after purchasing an additional 22,818 shares in the last quarter. Profund Advisors LLC raised its holdings in shares of IDEX by 10.3% during the 4th quarter. Profund Advisors LLC now owns 1,489 shares of the industrial products company’s stock valued at $256,000 after purchasing an additional 139 shares in the last quarter. Macquarie Group Ltd. raised its holdings in shares of IDEX by 123.8% during the 4th quarter. Macquarie Group Ltd. now owns 5,818 shares of the industrial products company’s stock valued at $1,001,000 after purchasing an additional 3,218 shares in the last quarter. Finally, Norges Bank bought a new position in shares of IDEX during the 4th quarter valued at $124,464,000. Institutional investors and hedge funds own 95.33% of the company’s stock.
NYSE IEX opened at $164.82 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 3.48 and a quick ratio of 2.67. The firm has a market capitalization of $12.41 billion, a price-to-earnings ratio of 33.71, a P/E/G ratio of 3.43 and a beta of 1.06. The company’s fifty day moving average is $159.31 and its two-hundred day moving average is $155.69. IDEX Co. has a 52-week low of $104.56 and a 52-week high of $178.14.
The business also recently announced a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Thursday, July 16th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date was Wednesday, July 15th. IDEX’s dividend payout ratio is presently 34.48%.
In other news, CEO Andrew K. Silvernail sold 36,000 shares of the company’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $159.38, for a total value of $5,737,680.00. Following the completion of the transaction, the chief executive officer now owns 240,166 shares in the company, valued at $38,277,657.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director William M. Cook sold 3,190 shares of the company’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $160.68, for a total transaction of $512,569.20. Following the completion of the transaction, the director now owns 22,463 shares of the company’s stock, valued at approximately $3,609,354.84. The disclosure for this sale can be found here. In the last quarter, insiders have sold 143,250 shares of company stock valued at $23,805,061. 1.10% of the stock is owned by corporate insiders.
A number of research analysts have recently weighed in on IEX shares. DA Davidson cut their price target on shares of IDEX from $145.00 to $140.00 and set a “neutral” rating on the stock in a report on Friday, April 24th. Oppenheimer began coverage on shares of IDEX in a research note on Wednesday, May 6th. They issued a “hold” rating on the stock. Rosenblatt Securities raised their target price on shares of IDEX from $172.00 to $178.00 and gave the company a “buy” rating in a research note on Sunday, July 26th. Boenning Scattergood upgraded shares of IDEX from a “neutral” rating to an “outperform” rating in a research note on Friday, July 24th. Finally, Janney Montgomery Scott lowered shares of IDEX from a “buy” rating to a “neutral” rating and set a $147.00 target price on the stock. in a research note on Wednesday, April 8th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $171.83.
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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