IDEX Corporation $IEX Shares Acquired by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in shares of IDEX Corporation (NYSE:IEX) by 7.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,528 shares of the industrial products company’s stock after purchasing an additional 1,211 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in IDEX were worth $3,253,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in IEX. Thurston Springer Miller Herd & Titak Inc. raised its stake in IDEX by 257.5% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 143 shares of the industrial products company’s stock valued at $25,000 after buying an additional 103 shares during the last quarter. American National Bank & Trust purchased a new stake in shares of IDEX during the second quarter worth about $25,000. Steph & Co. acquired a new position in shares of IDEX during the second quarter valued at about $42,000. SVB Wealth LLC purchased a new position in shares of IDEX in the 1st quarter valued at approximately $56,000. Finally, Federated Hermes Inc. boosted its stake in IDEX by 42.9% in the 1st quarter. Federated Hermes Inc. now owns 333 shares of the industrial products company’s stock worth $60,000 after purchasing an additional 100 shares in the last quarter. 97.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on IEX. Weiss Ratings restated a “hold (c-)” rating on shares of IDEX in a research note on Wednesday, October 8th. Oppenheimer set a $210.00 target price on IDEX in a research note on Tuesday, October 7th. Stifel Nicolaus lowered their price target on IDEX from $204.00 to $191.00 and set a “buy” rating for the company in a research report on Monday, October 20th. DA Davidson set a $180.00 price target on IDEX and gave the company a “neutral” rating in a research note on Monday, August 4th. Finally, Royal Bank Of Canada reduced their price objective on IDEX from $200.00 to $195.00 and set an “outperform” rating for the company in a research note on Thursday, October 30th. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $198.86.

IDEX Price Performance

Shares of IEX opened at $161.58 on Thursday. The business’s 50-day moving average is $165.09 and its two-hundred day moving average is $171.92. The company has a market capitalization of $12.09 billion, a P/E ratio of 25.57, a P/E/G ratio of 1.83 and a beta of 1.04. IDEX Corporation has a fifty-two week low of $153.36 and a fifty-two week high of $237.38. The company has a debt-to-equity ratio of 0.47, a quick ratio of 2.13 and a current ratio of 2.93.

IDEX (NYSE:IEX) last issued its quarterly earnings data on Friday, December 16th. The industrial products company reported $1.79 earnings per share (EPS) for the quarter. The business had revenue of $712.00 million during the quarter. IDEX had a return on equity of 15.20% and a net margin of 13.97%. Research analysts predict that IDEX Corporation will post 8.26 earnings per share for the current year.

IDEX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 30th. Stockholders of record on Friday, January 16th will be issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend is Friday, January 16th. IDEX’s payout ratio is 44.94%.

IDEX announced that its Board of Directors has initiated a share buyback program on Thursday, September 18th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the industrial products company to repurchase up to 8.3% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

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.