PNC Financial Services Group Inc. Has $5.20 Million Stake in IDEX Corporation (NYSE:IEX)

PNC Financial Services Group Inc. lowered its holdings in IDEX Corporation (NYSE:IEX) by 2.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,744 shares of the industrial products company’s stock after selling 694 shares during the period. PNC Financial Services Group Inc.’s holdings in IDEX were worth $5,202,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its stake in shares of IDEX by 13.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 640,717 shares of the industrial products company’s stock worth $134,096,000 after buying an additional 73,540 shares during the last quarter. Snyder Capital Management L P increased its position in shares of IDEX by 12.2% in the fourth quarter. Snyder Capital Management L P now owns 480,193 shares of the industrial products company’s stock valued at $100,500,000 after acquiring an additional 52,259 shares during the last quarter. Amalgamated Bank raised its holdings in IDEX by 1.0% during the first quarter. Amalgamated Bank now owns 14,731 shares of the industrial products company’s stock worth $2,666,000 after acquiring an additional 141 shares in the last quarter. GAMMA Investing LLC boosted its position in IDEX by 49.0% during the first quarter. GAMMA Investing LLC now owns 915 shares of the industrial products company’s stock valued at $166,000 after purchasing an additional 301 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. boosted its position in IDEX by 0.7% during the first quarter. Oppenheimer Asset Management Inc. now owns 8,332 shares of the industrial products company’s stock valued at $1,508,000 after purchasing an additional 61 shares during the last quarter. 97.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Citigroup boosted their price target on IDEX from $208.00 to $216.00 and gave the stock a “buy” rating in a research report on Monday, July 14th. Royal Bank Of Canada lowered their target price on shares of IDEX from $207.00 to $200.00 and set an “outperform” rating on the stock in a report on Thursday, July 31st. Mizuho set a $185.00 price target on shares of IDEX in a research note on Friday, May 16th. Robert W. Baird set a $215.00 price objective on shares of IDEX in a research note on Friday, May 2nd. Finally, Stifel Nicolaus dropped their target price on shares of IDEX from $238.00 to $204.00 and set a “buy” rating on the stock in a report on Thursday, July 31st. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $205.25.

IDEX Price Performance

IDEX stock opened at $159.75 on Thursday. The company has a market capitalization of $12.03 billion, a price-to-earnings ratio of 25.81, a PEG ratio of 1.71 and a beta of 1.04. The company has a current ratio of 3.05, a quick ratio of 2.13 and a debt-to-equity ratio of 0.46. IDEX Corporation has a 12 month low of $153.36 and a 12 month high of $238.22. The stock’s 50 day moving average is $178.22 and its 200-day moving average is $184.04.

IDEX (NYSE:IEX) last issued its quarterly earnings data on Wednesday, July 30th. The industrial products company reported $2.07 EPS for the quarter, beating analysts’ consensus estimates of $2.00 by $0.07. IDEX had a return on equity of 15.16% and a net margin of 14.05%. The firm had revenue of $865.40 million for the quarter, compared to analyst estimates of $858.59 million. During the same period in the prior year, the firm posted $2.06 EPS. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. Equities research analysts expect that IDEX Corporation will post 8.26 EPS for the current year.

IDEX Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, July 25th. Shareholders of record on Friday, July 11th were given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date was Friday, July 11th. IDEX’s dividend payout ratio is presently 45.88%.

Insider Activity

In other news, CFO Akhil Mahendra sold 250 shares of IDEX stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $180.89, for a total value of $45,222.50. Following the completion of the sale, the chief financial officer directly owned 5,035 shares in the company, valued at approximately $910,781.15. The trade was a 4.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.50% of the stock is currently owned by insiders.

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.