IDEX Co. (NYSE:IEX) Shares Bought by State Street Corp

State Street Corp lifted its position in IDEX Co. (NYSE:IEX - Free Report) by 0.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,017,976 shares of the industrial products company's stock after purchasing an additional 15,077 shares during the quarter. State Street Corp owned about 3.99% of IDEX worth $647,356,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Boston Trust Walden Corp raised its stake in shares of IDEX by 3.3% in the second quarter. Boston Trust Walden Corp now owns 223,892 shares of the industrial products company's stock worth $45,047,000 after purchasing an additional 7,222 shares during the last quarter. D. E. Shaw & Co. Inc. raised its stake in shares of IDEX by 247.0% in the second quarter. D. E. Shaw & Co. Inc. now owns 198,170 shares of the industrial products company's stock worth $39,872,000 after purchasing an additional 141,064 shares during the last quarter. Qsemble Capital Management LP purchased a new position in shares of IDEX in the second quarter worth about $3,627,000. Marshall Wace LLP raised its stake in shares of IDEX by 162.1% in the second quarter. Marshall Wace LLP now owns 101,558 shares of the industrial products company's stock worth $20,433,000 after purchasing an additional 62,803 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. raised its stake in shares of IDEX by 2.7% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 168,023 shares of the industrial products company's stock worth $36,041,000 after purchasing an additional 4,465 shares during the last quarter. 97.96% of the stock is currently owned by hedge funds and other institutional investors.

IDEX Price Performance

IEX traded down $0.06 during trading on Monday, hitting $229.65. The company's stock had a trading volume of 378,020 shares, compared to its average volume of 483,203. The company has a current ratio of 2.97, a quick ratio of 2.11 and a debt-to-equity ratio of 0.54. IDEX Co. has a twelve month low of $189.51 and a twelve month high of $246.36. The business's fifty day simple moving average is $219.43 and its 200 day simple moving average is $208.38. The firm has a market capitalization of $17.39 billion, a price-to-earnings ratio of 35.52, a P/E/G ratio of 2.43 and a beta of 0.96.

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 (EPS) for the quarter, topping analysts' consensus estimates of $1.89 by $0.01. The firm had revenue of $798.20 million for the quarter, compared to analyst estimates of $793.05 million. IDEX had a return on equity of 15.92% and a net margin of 15.35%. The business's revenue was up .6% on a year-over-year basis. During the same period in the previous year, the company posted $2.12 earnings per share. On average, equities research analysts forecast that IDEX Co. will post 7.89 EPS for the current fiscal year.

IDEX Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 17th will be paid a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date of this dividend is Friday, January 17th. IDEX's dividend payout ratio is presently 42.72%.

Analyst Upgrades and Downgrades

IEX has been the subject of several recent research reports. Stifel Nicolaus lifted their price target on IDEX from $232.00 to $244.00 and gave the company a "buy" rating in a research report on Wednesday, October 16th. Royal Bank of Canada lifted their price target on IDEX from $248.00 to $258.00 and gave the company an "outperform" rating in a research report on Friday. Citigroup lifted their price target on IDEX from $251.00 to $269.00 and gave the company a "buy" rating in a research report on Monday. Robert W. Baird reduced their price target 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, Argus cut IDEX from a "buy" rating to a "hold" rating in a research report on Wednesday, August 14th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $241.43.

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.