IDEX Co. (NYSE:IEX) CFO Akhil Mahendra Sells 250 Shares of Stock

IDEX Co. (NYSE:IEX) CFO Akhil Mahendra sold 250 shares of the business’s stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $180.89, for a total value of $45,222.50. Following the sale, the chief financial officer now owns 5,035 shares of the company’s stock, valued at approximately $910,781.15. The trade was a 4.73% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

IDEX Stock Performance

NYSE:IEX opened at $183.17 on Tuesday. The stock has a market cap of $13.84 billion, a P/E ratio of 27.54, a PEG ratio of 1.98 and a beta of 1.06. The stock has a 50 day simple moving average of $176.46 and a 200 day simple moving average of $195.55. The company has a current ratio of 2.53, a quick ratio of 1.85 and a debt-to-equity ratio of 0.49. IDEX Co. has a 1-year low of $153.36 and a 1-year high of $238.22.

IDEX (NYSE:IEX) last posted its quarterly earnings data on Thursday, May 1st. The industrial products company reported $1.75 EPS for the quarter, topping analysts’ consensus estimates of $1.64 by $0.11. IDEX had a return on equity of 16.08% and a net margin of 15.45%. The firm had revenue of $814.30 million for the quarter, compared to analyst estimates of $807.25 million. During the same quarter last year, the company earned $1.88 EPS. The company’s revenue was up 1.7% on a year-over-year basis. Research analysts anticipate that IDEX Co. will post 8.26 earnings per share for the current year.

IDEX Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Monday, May 19th were paid a $0.71 dividend. This is a positive change from IDEX’s previous quarterly dividend of $0.69. The ex-dividend date of this dividend was Monday, May 19th. This represents a $2.84 annualized dividend and a dividend yield of 1.55%. IDEX’s dividend payout ratio (DPR) is presently 45.01%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on IEX. Mizuho set a $185.00 price objective on IDEX in a report on Friday, May 16th. DA Davidson lowered their price target on IDEX from $225.00 to $215.00 and set a “neutral” rating for the company in a report on Wednesday, February 19th. Citigroup decreased their price objective on IDEX from $264.00 to $201.00 and set a “buy” rating for the company in a report on Monday, April 14th. Royal Bank of Canada increased their price objective on IDEX from $206.00 to $208.00 and gave the stock an “outperform” rating in a report on Friday, May 2nd. Finally, Stifel Nicolaus increased their price target on IDEX from $192.00 to $208.00 and gave the company a “buy” rating in a research report on Friday, May 2nd. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $212.50.

Hedge Funds Weigh In On IDEX

Several hedge funds and other institutional investors have recently modified their holdings of the business. Stratos Wealth Partners LTD. boosted its holdings in shares of IDEX by 1.9% during the 4th quarter. Stratos Wealth Partners LTD. now owns 6,046 shares of the industrial products company’s stock valued at $1,265,000 after acquiring an additional 110 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in IDEX by 27.1% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,025 shares of the industrial products company’s stock worth $2,109,000 after buying an additional 2,138 shares during the period. Choreo LLC lifted its holdings in IDEX by 30.5% during the 4th quarter. Choreo LLC now owns 4,221 shares of the industrial products company’s stock worth $883,000 after buying an additional 987 shares during the period. Bleakley Financial Group LLC lifted its stake in shares of IDEX by 4.1% in the 4th quarter. Bleakley Financial Group LLC now owns 1,214 shares of the industrial products company’s stock valued at $254,000 after purchasing an additional 48 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of IDEX by 2.4% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 172,101 shares of the industrial products company’s stock valued at $36,019,000 after purchasing an additional 4,078 shares during the period. Institutional investors own 97.96% of the company’s stock.

About IDEX

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.