IDEX Co. (NYSE:IEX) Shares Sold by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. decreased its stake in shares of IDEX Co. (NYSE:IEX - Free Report) by 14.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 354,946 shares of the industrial products company's stock after selling 61,077 shares during the period. Mirae Asset Global Investments Co. Ltd. owned about 0.47% of IDEX worth $79,355,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. LPL Financial LLC boosted its position in IDEX by 36.5% during the third quarter. LPL Financial LLC now owns 17,407 shares of the industrial products company's stock worth $3,621,000 after purchasing an additional 4,652 shares during the period. Federated Hermes Inc. boosted its holdings in shares of IDEX by 49.0% in the 3rd quarter. Federated Hermes Inc. now owns 447 shares of the industrial products company's stock worth $93,000 after purchasing an additional 147 shares in the last quarter. Truist Financial Corp boosted its stake in shares of IDEX by 10.3% in the 3rd quarter. Truist Financial Corp now owns 65,918 shares of the industrial products company's stock valued at $13,712,000 after purchasing an additional 6,129 shares in the last quarter. Ameriprise Financial Inc. raised its position in IDEX by 316.9% in the 3rd quarter. Ameriprise Financial Inc. now owns 368,849 shares of the industrial products company's stock worth $76,667,000 after purchasing an additional 280,385 shares during the period. Finally, Alps Advisors Inc. boosted its position in IDEX by 231.3% during the third quarter. Alps Advisors Inc. now owns 4,791 shares of the industrial products company's stock valued at $997,000 after buying an additional 3,345 shares during the period. 97.96% of the stock is owned by hedge funds and other institutional investors.

IDEX Stock Down 0.2 %

Shares of IEX stock traded down $0.45 during midday trading on Friday, reaching $194.69. 632,774 shares of the stock were exchanged, compared to its average volume of 447,014. The firm has a market cap of $14.74 billion, a PE ratio of 25.62, a price-to-earnings-growth ratio of 1.96 and a beta of 0.95. The company has a current ratio of 3.37, a quick ratio of 2.45 and a debt-to-equity ratio of 0.37. The company's 50 day moving average is $210.11 and its two-hundred day moving average is $220.63. IDEX Co. has a 1 year low of $183.76 and a 1 year high of $246.36.

IDEX (NYSE:IEX - Get Free Report) last announced its earnings results on Tuesday, April 23rd. The industrial products company reported $1.88 EPS for the quarter, beating analysts' consensus estimates of $1.76 by $0.12. IDEX had a net margin of 17.89% and a return on equity of 17.60%. The firm had revenue of $801.00 million for the quarter, compared to analysts' expectations of $807.52 million. During the same quarter in the previous year, the business posted $2.09 EPS. The company's quarterly revenue was down 5.3% on a year-over-year basis. On average, equities research analysts predict that IDEX Co. will post 8.31 EPS for the current year.

IDEX Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Investors of record on Friday, July 12th will be paid a $0.69 dividend. The ex-dividend date of this dividend is Friday, July 12th. This represents a $2.76 annualized dividend and a dividend yield of 1.42%. IDEX's payout ratio is currently 36.32%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on IEX shares. Royal Bank of Canada restated an "outperform" rating and set a $255.00 price target on shares of IDEX in a research report on Thursday, March 21st. Citigroup raised their price target on shares of IDEX from $254.00 to $277.00 and gave the stock a "buy" rating in a report on Monday, April 8th. Robert W. Baird dropped their target price on shares of IDEX from $260.00 to $256.00 and set an "outperform" rating for the company in a report on Thursday, April 25th. Oppenheimer raised their target price on IDEX from $245.00 to $252.00 and gave the stock an "outperform" rating in a research note on Thursday, April 18th. Finally, StockNews.com upgraded IDEX from a "hold" rating to a "buy" rating in a report on Saturday, May 18th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $250.71.

IDEX Company Profile

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.