State of New Jersey Common Pension Fund D Trims Stock Position in IDEX Co. (NYSE:IEX)

State of New Jersey Common Pension Fund D cut its holdings in shares of IDEX Co. (NYSE:IEX - Free Report) by 9.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,736 shares of the industrial products company's stock after selling 2,433 shares during the period. State of New Jersey Common Pension Fund D's holdings in IDEX were worth $4,877,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. UMB Bank n.a. grew its position in shares of IDEX by 31.0% during the 2nd quarter. UMB Bank n.a. now owns 241 shares of the industrial products company's stock worth $48,000 after buying an additional 57 shares during the period. EverSource Wealth Advisors LLC raised its stake in IDEX by 19.9% in the second quarter. EverSource Wealth Advisors LLC now owns 344 shares of the industrial products company's stock valued at $72,000 after buying an additional 57 shares during the period. Whittier Trust Co. increased its stake in shares of IDEX by 38.4% during the second quarter. Whittier Trust Co. now owns 209 shares of the industrial products company's stock worth $42,000 after purchasing an additional 58 shares during the period. Catalyst Capital Advisors LLC increased its stake in shares of IDEX by 73.8% during the third quarter. Catalyst Capital Advisors LLC now owns 139 shares of the industrial products company's stock worth $30,000 after purchasing an additional 59 shares during the period. Finally, Oregon Public Employees Retirement Fund increased its stake in shares of IDEX by 1.0% during the second quarter. Oregon Public Employees Retirement Fund now owns 6,476 shares of the industrial products company's stock worth $1,303,000 after purchasing an additional 61 shares during the period. Institutional investors and hedge funds own 97.96% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on IEX. TD Cowen reduced their target price on IDEX from $240.00 to $230.00 and set a "buy" rating on the stock in a report on Wednesday, August 7th. Royal Bank of Canada lifted their target price on IDEX from $236.00 to $248.00 and gave the stock an "outperform" rating in a report on Thursday, October 31st. Argus lowered IDEX from a "buy" rating to a "hold" rating in a research report on Wednesday, August 14th. Robert W. Baird lowered their price objective on IDEX from $245.00 to $241.00 and set an "outperform" rating for the company in a research report on Thursday, October 31st. Finally, Oppenheimer decreased their target price on IDEX from $245.00 to $238.00 and set an "outperform" rating for the company in a research report on Monday, August 5th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $241.14.

IDEX Stock Down 0.9 %

Shares of NYSE IEX traded down $2.04 on Tuesday, reaching $227.30. 91,967 shares of the company's stock traded hands, compared to its average volume of 470,616. The company has a market cap of $17.21 billion, a price-to-earnings ratio of 35.49, a price-to-earnings-growth ratio of 2.42 and a beta of 0.96. 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 business's 50 day simple moving average is $209.79 and its two-hundred day simple moving average is $207.37. IDEX Co. has a 12 month low of $189.51 and a 12 month high of $246.36.

IDEX (NYSE:IEX - Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $1.90 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.01. The business had revenue of $798.20 million for the quarter, compared to analysts' expectations of $793.05 million. IDEX had a net margin of 15.35% and a return on equity of 15.92%. The company's revenue was up .6% compared to the same quarter last year. During the same quarter last year, the company posted $2.12 EPS. As a group, equities research analysts forecast that IDEX Co. will post 7.88 EPS for the current fiscal year.

IDEX Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Friday, October 11th were given a $0.69 dividend. The ex-dividend date of this dividend was Friday, October 11th. This represents a $2.76 annualized dividend and a dividend yield of 1.21%. IDEX's payout ratio is presently 42.72%.

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.