Teacher Retirement System of Texas trimmed its holdings in IDEX Co. (NYSE:IEX – Free Report) by 75.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,908 shares of the industrial products company’s stock after selling 30,816 shares during the period. Teacher Retirement System of Texas’ holdings in IDEX were worth $2,133,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. EverSource Wealth Advisors LLC lifted its position in shares of IDEX by 90.0% in the first quarter. EverSource Wealth Advisors LLC now owns 114 shares of the industrial products company’s stock valued at $26,000 after buying an additional 54 shares during the last quarter. Parkside Financial Bank & Trust lifted its position in shares of IDEX by 120.3% in the first quarter. Parkside Financial Bank & Trust now owns 141 shares of the industrial products company’s stock valued at $27,000 after buying an additional 77 shares during the last quarter. Clear Street Markets LLC lifted its position in shares of IDEX by 94.7% in the first quarter. Clear Street Markets LLC now owns 148 shares of the industrial products company’s stock valued at $34,000 after buying an additional 72 shares during the last quarter. Clearstead Advisors LLC lifted its position in shares of IDEX by 910.7% in the first quarter. Clearstead Advisors LLC now owns 283 shares of the industrial products company’s stock valued at $65,000 after buying an additional 255 shares during the last quarter. Finally, Covington Capital Management lifted its position in shares of IDEX by 120.7% in the third quarter. Covington Capital Management now owns 331 shares of the industrial products company’s stock valued at $66,000 after buying an additional 181 shares during the last quarter. 94.85% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several research firms recently weighed in on IEX. Citigroup lifted their price target on IDEX from $243.00 to $255.00 and gave the stock a “buy” rating in a report on Friday, July 28th. Oppenheimer restated an “outperform” rating and set a $245.00 target price on shares of IDEX in a research report on Monday, July 31st. Argus increased their price target on IDEX from $225.00 to $250.00 and gave the stock a “buy” rating in a report on Thursday, August 24th. Stifel Nicolaus increased their price objective on IDEX from $214.00 to $220.00 and gave the stock a “hold” rating in a research note on Wednesday, July 19th. Finally, StockNews.com started coverage on IDEX in a research note on Thursday, August 17th. They issued a “hold” rating for the company. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $236.92.
IDEX Price Performance
Shares of IEX opened at $208.44 on Thursday. The company has a current ratio of 3.06, a quick ratio of 2.07 and a debt-to-equity ratio of 0.45. The firm has a market cap of $15.76 billion, a PE ratio of 26.97, a P/E/G ratio of 2.16 and a beta of 1.00. IDEX Co. has a 1-year low of $195.27 and a 1-year high of $246.23. The firm has a fifty day simple moving average of $218.19 and a two-hundred day simple moving average of $214.14.
IDEX (NYSE:IEX – Get Free Report) last issued its quarterly earnings results on Wednesday, July 26th. The industrial products company reported $2.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.11 by $0.07. IDEX had a return on equity of 20.69% and a net margin of 17.65%. The business had revenue of $846.20 million during the quarter, compared to analyst estimates of $852.28 million. During the same quarter in the prior year, the business posted $2.02 EPS. IDEX’s revenue for the quarter was up 6.3% compared to the same quarter last year. On average, equities analysts anticipate that IDEX Co. will post 7.98 EPS for the current year.
IDEX Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 27th. Investors of record on Friday, October 13th will be given a $0.64 dividend. This represents a $2.56 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date of this dividend is Thursday, October 12th. IDEX’s dividend payout ratio (DPR) is currently 33.12%.
IDEX 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.
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