New York State Common Retirement Fund Sells 21,800 Shares of IDEX Co. (NYSE:IEX)

New York State Common Retirement Fund decreased its stake in IDEX Co. (NYSE:IEX - Free Report) by 22.3% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 76,173 shares of the industrial products company's stock after selling 21,800 shares during the quarter. New York State Common Retirement Fund owned approximately 0.10% of IDEX worth $16,339,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the stock. Price T Rowe Associates Inc. MD raised its holdings in shares of IDEX by 7.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 7,964,956 shares of the industrial products company's stock worth $1,943,609,000 after acquiring an additional 555,250 shares in the last quarter. Hsbc Holdings PLC lifted its holdings in shares of IDEX by 75.6% during the 2nd quarter. Hsbc Holdings PLC now owns 519,124 shares of the industrial products company's stock valued at $104,179,000 after buying an additional 223,422 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of IDEX by 20.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 470,672 shares of the industrial products company's stock valued at $94,698,000 after buying an additional 78,551 shares in the last quarter. CCLA Investment Management grew its stake in shares of IDEX by 1.8% in the 2nd quarter. CCLA Investment Management now owns 433,403 shares of the industrial products company's stock valued at $86,697,000 after buying an additional 7,615 shares in the last quarter. Finally, Ceredex Value Advisors LLC raised its position in IDEX by 25.8% during the second quarter. Ceredex Value Advisors LLC now owns 416,375 shares of the industrial products company's stock valued at $83,775,000 after acquiring an additional 85,434 shares in the last quarter. Institutional investors and hedge funds own 97.96% of the company's stock.

Analyst Upgrades and Downgrades

IEX has been the topic of several analyst reports. Robert W. Baird dropped their price target on shares of IDEX from $245.00 to $241.00 and set an "outperform" rating on the stock in a research note on Thursday, October 31st. DA Davidson cut their target price on IDEX from $220.00 to $210.00 and set a "neutral" rating on the stock in a report on Monday, August 5th. Argus downgraded IDEX from a "buy" rating to a "hold" rating in a research note on Wednesday, August 14th. TD Cowen cut their price objective on IDEX from $240.00 to $230.00 and set a "buy" rating on the stock in a research note on Wednesday, August 7th. Finally, StockNews.com cut IDEX from a "buy" rating to a "hold" rating in a research report on Thursday, July 11th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat.com, IDEX currently has a consensus rating of "Moderate Buy" and a consensus target price of $241.14.

IDEX Stock Performance

Shares of IEX stock traded up $10.19 during trading hours on Wednesday, reaching $234.90. 896,356 shares of the company's stock were exchanged, compared to its average volume of 472,091. IDEX Co. has a fifty-two week low of $189.33 and a fifty-two week high of $246.36. The company has a quick ratio of 2.11, a current ratio of 2.97 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $17.79 billion, a P/E ratio of 36.36, a P/E/G ratio of 2.29 and a beta of 0.96. The business has a fifty day moving average price of $207.78 and a 200-day moving average price of $207.29.

IDEX (NYSE:IEX - Get Free Report) last released its earnings results on Tuesday, October 29th. The industrial products company reported $1.90 EPS for the quarter, beating the consensus estimate of $1.89 by $0.01. IDEX had a net margin of 15.35% and a return on equity of 15.92%. The firm had revenue of $798.20 million during the quarter, compared to analysts' expectations of $793.05 million. During the same period in the prior year, the company earned $2.12 EPS. The business's quarterly revenue was up .6% compared to the same quarter last year. Analysts predict that IDEX Co. will post 7.87 EPS for the current fiscal year.

IDEX Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, October 11th were issued a $0.69 dividend. The ex-dividend date was Friday, October 11th. This represents a $2.76 annualized dividend and a yield of 1.17%. IDEX's dividend payout ratio (DPR) is 42.72%.

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.