Akhil Mahendra Sells 250 Shares of IDEX Co. (NYSE:IEX) Stock

IDEX Co. (NYSE:IEX) CFO Akhil Mahendra sold 250 shares of the business’s stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $180.89, for a total value of $45,222.50. Following the sale, the chief financial officer now directly owns 5,035 shares of the company’s stock, valued at $910,781.15. This represents a 4.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

IDEX Price Performance

Shares of IEX opened at $183.17 on Tuesday. The firm has a market cap of $13.84 billion, a PE ratio of 27.54, a P/E/G ratio of 1.98 and a beta of 1.06. The company has a current ratio of 2.53, a quick ratio of 1.85 and a debt-to-equity ratio of 0.49. The firm has a fifty day simple moving average of $176.46 and a two-hundred day simple moving average of $195.55. IDEX Co. has a 1-year low of $153.36 and a 1-year high of $238.22.

IDEX (NYSE:IEX) last issued its quarterly earnings data on Thursday, May 1st. The industrial products company reported $1.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.64 by $0.11. IDEX had a net margin of 15.45% and a return on equity of 16.08%. The firm had revenue of $814.30 million during the quarter, compared to the consensus estimate of $807.25 million. During the same quarter in the previous year, the firm posted $1.88 EPS. The company’s revenue for the quarter was up 1.7% compared to the same quarter last year. On average, equities analysts anticipate that IDEX Co. will post 8.26 EPS for the current year.

IDEX Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Monday, May 19th were issued a $0.71 dividend. The ex-dividend date of this dividend was Monday, May 19th. This represents a $2.84 annualized dividend and a yield of 1.55%. This is an increase from IDEX’s previous quarterly dividend of $0.69. IDEX’s dividend payout ratio is currently 45.01%.

Institutional Trading of IDEX

Several hedge funds have recently bought and sold shares of IEX. Stratos Wealth Partners LTD. lifted its stake in IDEX by 1.9% in the 4th quarter. Stratos Wealth Partners LTD. now owns 6,046 shares of the industrial products company’s stock worth $1,265,000 after purchasing an additional 110 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of IDEX by 27.1% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,025 shares of the industrial products company’s stock valued at $2,109,000 after buying an additional 2,138 shares in the last quarter. Choreo LLC raised its position in shares of IDEX by 30.5% during the 4th quarter. Choreo LLC now owns 4,221 shares of the industrial products company’s stock valued at $883,000 after buying an additional 987 shares in the last quarter. Bleakley Financial Group LLC raised its position in shares of IDEX by 4.1% during the 4th quarter. Bleakley Financial Group LLC now owns 1,214 shares of the industrial products company’s stock valued at $254,000 after buying an additional 48 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. raised its position in shares of IDEX by 2.4% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 172,101 shares of the industrial products company’s stock valued at $36,019,000 after buying an additional 4,078 shares in the last quarter. Hedge funds and other institutional investors own 97.96% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on IEX shares. DA Davidson reduced their target price on IDEX from $225.00 to $215.00 and set a “neutral” rating for the company in a report on Wednesday, February 19th. Stifel Nicolaus increased their price objective on IDEX from $192.00 to $208.00 and gave the company a “buy” rating in a report on Friday, May 2nd. Royal Bank of Canada increased their target price on IDEX from $206.00 to $208.00 and gave the stock an “outperform” rating in a research report on Friday, May 2nd. Mizuho set a $185.00 price objective on IDEX in a research report on Friday, May 16th. Finally, Citigroup reduced their target price on IDEX from $264.00 to $201.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, IDEX currently has an average rating of “Moderate Buy” and an average price target of $212.50.

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.