State Board of Administration of Florida Retirement System Has $11.76 Million Position in IDEX Corporation (IEX)
State Board of Administration of Florida Retirement System increased its position in shares of IDEX Corporation (NYSE:IEX) by 1.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 104,028 shares of the industrial products company’s stock after buying an additional 1,710 shares during the period. State Board of Administration of Florida Retirement System owned about 0.14% of IDEX Corporation worth $11,756,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently added to or reduced their stakes in the stock. Asset Management One Co. Ltd. increased its position in IDEX Corporation by 129.5% in the first quarter. Asset Management One Co. Ltd. now owns 20,120 shares of the industrial products company’s stock worth $1,871,000 after buying an additional 11,352 shares during the period. Louisiana State Employees Retirement System increased its position in IDEX Corporation by 3.1% in the second quarter. Louisiana State Employees Retirement System now owns 19,900 shares of the industrial products company’s stock worth $2,249,000 after buying an additional 600 shares during the period. BlackRock Inc. increased its position in IDEX Corporation by 7,037.4% in the first quarter. BlackRock Inc. now owns 6,425,051 shares of the industrial products company’s stock worth $600,808,000 after buying an additional 6,335,032 shares during the period. Swiss National Bank increased its position in IDEX Corporation by 0.7% in the first quarter. Swiss National Bank now owns 126,100 shares of the industrial products company’s stock worth $11,792,000 after buying an additional 900 shares during the period. Finally, Liberty Mutual Group Asset Management Inc. increased its position in IDEX Corporation by 2.9% in the first quarter. Liberty Mutual Group Asset Management Inc. now owns 34,128 shares of the industrial products company’s stock worth $3,191,000 after buying an additional 957 shares during the period. Institutional investors and hedge funds own 99.13% of the company’s stock.
Shares of IDEX Corporation (NYSE:IEX) opened at 115.20 on Wednesday. The company has a market cap of $8.80 billion, a PE ratio of 30.88 and a beta of 1.20. The company has a 50 day moving average of $114.67 and a 200-day moving average of $104.29. IDEX Corporation has a 12-month low of $82.05 and a 12-month high of $118.08.
IDEX Corporation (NYSE:IEX) last released its earnings results on Tuesday, July 25th. The industrial products company reported $1.08 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.02. The company had revenue of $573.40 million for the quarter, compared to the consensus estimate of $568.43 million. IDEX Corporation had a net margin of 13.12% and a return on equity of 19.01%. IDEX Corporation’s revenue was up 4.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.99 EPS. Equities research analysts anticipate that IDEX Corporation will post $4.23 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 31st. Stockholders of record on Friday, July 14th were issued a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 1.28%. The ex-dividend date was Wednesday, July 12th. IDEX Corporation’s dividend payout ratio (DPR) is currently 39.68%.
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IEX has been the subject of a number of analyst reports. Zacks Investment Research upgraded IDEX Corporation from a “hold” rating to a “buy” rating and set a $117.00 price target for the company in a research note on Wednesday, May 10th. BidaskClub upgraded IDEX Corporation from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 20th. Cowen and Company lifted their price target on IDEX Corporation from $80.00 to $95.00 and gave the company a “market perform” rating in a research note on Wednesday, July 5th. Finally, Royal Bank Of Canada reissued a “sector perform” rating and set a $115.00 target price (up previously from $109.00) on shares of IDEX Corporation in a research report on Thursday, July 27th. Eleven analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $104.75.
In other news, Chairman Andrew K. Silvernail sold 50,000 shares of the company’s stock in a transaction on Thursday, July 27th. The shares were sold at an average price of $115.00, for a total value of $5,750,000.00. Following the sale, the chairman now directly owns 142,114 shares of the company’s stock, valued at approximately $16,343,110. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.00% of the stock is owned by corporate insiders.
About IDEX Corporation
IDEX Corporation (IDEX) operates an applied solutions business that sells pumps, flow meters and other fluidics systems, and components and engineered products. The Company operates through three segments: Fluid & Metering Technologies (FMT), Health & Science Technologies (HST) and Fire & Safety/Diversified Products (FSDP).
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