Teachers Retirement System of The State of Kentucky Lowers Stock Position in IDEX Co. (NYSE:IEX)


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Teachers Retirement System of The State of Kentucky lowered its position in IDEX Co. (NYSE:IEX) by 1.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 44,202 shares of the industrial products company’s stock after selling 500 shares during the period. Teachers Retirement System of The State of Kentucky owned about 0.06% of IDEX worth $8,805,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in IEX. Amundi Pioneer Asset Management Inc. raised its holdings in shares of IDEX by 0.4% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 69,239 shares of the industrial products company’s stock valued at $10,506,000 after purchasing an additional 301 shares during the last quarter. LPL Financial LLC increased its holdings in IDEX by 24.0% during the third quarter. LPL Financial LLC now owns 2,518 shares of the industrial products company’s stock worth $459,000 after buying an additional 488 shares during the last quarter. Morgan Stanley increased its holdings in IDEX by 16.9% during the third quarter. Morgan Stanley now owns 155,257 shares of the industrial products company’s stock worth $28,321,000 after buying an additional 22,430 shares during the last quarter. Public Sector Pension Investment Board increased its holdings in IDEX by 24.6% during the third quarter. Public Sector Pension Investment Board now owns 9,105 shares of the industrial products company’s stock worth $1,661,000 after buying an additional 1,800 shares during the last quarter. Finally, AQR Capital Management LLC increased its holdings in IDEX by 91.5% during the third quarter. AQR Capital Management LLC now owns 117,593 shares of the industrial products company’s stock worth $21,450,000 after buying an additional 56,180 shares during the last quarter. Institutional investors own 96.59% of the company’s stock.

In other news, SVP Denise R. Cade sold 3,750 shares of the firm’s stock in a transaction that occurred on Tuesday, February 16th. The shares were sold at an average price of $200.11, for a total value of $750,412.50. 1.10% of the stock is currently owned by company insiders.

IEX has been the subject of a number of research analyst reports. Cowen downgraded shares of IDEX from an “outperform” rating to a “market perform” rating and raised their price objective for the stock from $200.00 to $220.00 in a report on Thursday, January 14th. Rosenblatt Securities raised their price objective on shares of IDEX from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Friday, February 5th. Wells Fargo & Company reiterated a “buy” rating and set a $178.00 target price on shares of IDEX in a research report on Tuesday, February 9th. Zacks Investment Research upgraded shares of IDEX from a “hold” rating to a “buy” rating and set a $199.00 target price for the company in a research report on Friday, February 5th. Finally, Morgan Stanley began coverage on shares of IDEX in a research report on Wednesday, March 31st. They set an “overweight” rating and a $230.00 target price for the company. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $187.40.

IEX stock opened at $214.29 on Thursday. The firm has a 50 day moving average of $201.07 and a 200-day moving average of $193.94. The company has a current ratio of 3.71, a quick ratio of 2.97 and a debt-to-equity ratio of 0.44. IDEX Co. has a 12 month low of $141.86 and a 12 month high of $217.03. The firm has a market capitalization of $16.27 billion, a P/E ratio of 43.82, a price-to-earnings-growth ratio of 3.53 and a beta of 1.08.

IDEX (NYSE:IEX) last released its quarterly earnings data on Tuesday, February 2nd. The industrial products company reported $1.37 EPS for the quarter, beating analysts’ consensus estimates of $1.31 by $0.06. IDEX had a net margin of 15.94% and a return on equity of 17.21%. The company had revenue of $614.80 million during the quarter, compared to analyst estimates of $601.26 million. During the same period last year, the business earned $1.33 earnings per share. IDEX’s revenue was up 1.5% compared to the same quarter last year. Sell-side analysts predict that IDEX Co. will post 5.15 EPS for the current year.

IDEX Profile

IDEX Corporation, together with its subsidiaries, operates as an applied solutions company 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, small volume provers, flow meters, injectors, and other fluid-handling pump modules and systems, as well as offers flow monitoring and other services for the food, chemical, general industrial, water and wastewater, agricultural, and energy industries.

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Institutional Ownership by Quarter for IDEX (NYSE:IEX)

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