Kentucky Retirement Systems Insurance Trust Fund Lowers Position in IDEX Co. (NYSE:IEX)

Kentucky Retirement Systems Insurance Trust Fund decreased its holdings in shares of IDEX Co. (NYSE:IEX) by 7.3% during the first quarter, according to its most recent filing with the SEC. The firm owned 2,496 shares of the industrial products company’s stock after selling 198 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in IDEX were worth $609,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the business. Riverview Trust Co purchased a new stake in shares of IDEX during the 1st quarter worth $35,000. Planned Solutions Inc. bought a new stake in shares of IDEX in the 4th quarter valued at about $33,000. Quarry LP purchased a new position in shares of IDEX in the 4th quarter worth approximately $36,000. EdgeRock Capital LLC purchased a new position in shares of IDEX in the 4th quarter worth approximately $48,000. Finally, VisionPoint Advisory Group LLC bought a new position in shares of IDEX during the 4th quarter worth approximately $50,000. Hedge funds and other institutional investors own 97.96% of the company’s stock.

IDEX Stock Performance

NYSE IEX traded up $3.38 during trading hours on Friday, reaching $206.46. The stock had a trading volume of 278,603 shares, compared to its average volume of 478,321. IDEX Co. has a 52-week low of $183.76 and a 52-week high of $246.36. The stock has a fifty day moving average of $204.33 and a 200 day moving average of $219.61. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.45 and a current ratio of 3.37. The stock has a market cap of $15.63 billion, a P/E ratio of 27.17, a price-to-earnings-growth ratio of 2.08 and a beta of 0.95.

IDEX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 26th. Stockholders of record on Friday, July 12th were paid a $0.69 dividend. The ex-dividend date was Friday, July 12th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.34%. IDEX’s payout ratio is currently 36.32%.

Analyst Upgrades and Downgrades

IEX has been the topic of several analyst reports. Oppenheimer lifted their price target on shares of IDEX from $245.00 to $252.00 and gave the stock an “outperform” rating in a report on Thursday, April 18th. StockNews.com lowered IDEX from a “buy” rating to a “hold” rating in a research report on Thursday, July 11th. Stifel Nicolaus lowered their price target on IDEX from $265.00 to $236.00 and set a “buy” rating for the company in a report on Thursday, July 18th. Robert W. Baird cut their price objective on shares of IDEX from $260.00 to $256.00 and set an “outperform” rating on the stock in a report on Thursday, April 25th. Finally, Citigroup increased their price objective on shares of IDEX from $254.00 to $277.00 and gave the company a “buy” rating in a research report on Monday, April 8th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, IDEX has a consensus rating of “Moderate Buy” and a consensus price target of $246.57.

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.