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

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

IDEX Stock Down 0.1%

Shares of NYSE:IEX traded down $0.14 during trading on Monday, reaching $183.17. 626,567 shares of the stock traded hands, compared to its average volume of 581,315. The stock has a market cap of $13.84 billion, a P/E ratio of 27.54, a price-to-earnings-growth ratio of 1.98 and a beta of 1.06. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.85 and a current ratio of 2.53. The stock has a 50-day moving average of $176.46 and a two-hundred day moving average of $195.89. IDEX Co. has a 52-week low of $153.36 and a 52-week high of $238.22.

IDEX (NYSE:IEX) last posted its earnings results 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 business had revenue of $814.30 million during 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 quarterly revenue was up 1.7% compared to the same quarter last year. As a group, sell-side analysts expect that IDEX Co. will post 8.26 earnings per share for the current fiscal year.

IDEX Increases Dividend

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

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Mizuho set a $185.00 price target on shares of IDEX in a research report on Friday, May 16th. Citigroup decreased their target price on shares of IDEX from $264.00 to $201.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Robert W. Baird set a $215.00 price target on IDEX in a research report on Friday, May 2nd. Royal Bank of Canada upped their price target on IDEX from $206.00 to $208.00 and gave the stock an “outperform” rating in a research note on Friday, May 2nd. Finally, Stifel Nicolaus lifted their price objective on IDEX from $192.00 to $208.00 and gave the company a “buy” rating in a research note on Friday, May 2nd. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $212.50.

Institutional Investors Weigh In On IDEX

A number of hedge funds have recently modified their holdings of IEX. MassMutual Private Wealth & Trust FSB raised its holdings in IDEX by 81.0% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 143 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 64 shares during the period. Banque de Luxembourg S.A. purchased a new stake in IDEX in the fourth quarter worth about $27,000. UMB Bank n.a. raised its stake in shares of IDEX by 63.5% in the first quarter. UMB Bank n.a. now owns 224 shares of the industrial products company’s stock worth $41,000 after buying an additional 87 shares during the period. Quarry LP purchased a new position in shares of IDEX during the 4th quarter valued at about $49,000. Finally, SVB Wealth LLC bought a new position in shares of IDEX during the 1st quarter valued at approximately $56,000. 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.