California State Teachers Retirement System Boosts Stock Holdings in IDEX Co. (NYSE:IEX)

California State Teachers Retirement System grew its position in shares of IDEX Co. (NYSE:IEX) by 0.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 117,533 shares of the industrial products company’s stock after purchasing an additional 281 shares during the quarter. California State Teachers Retirement System owned approximately 0.16% of IDEX worth $28,680,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Riverview Trust Co purchased a new position in shares of IDEX during the 1st quarter valued at approximately $35,000. Quarry LP purchased a new position in shares of IDEX during the 4th quarter valued at approximately $36,000. EdgeRock Capital LLC purchased a new position in shares of IDEX during the 4th quarter valued at approximately $48,000. VisionPoint Advisory Group LLC purchased a new position in shares of IDEX during the 4th quarter valued at approximately $50,000. Finally, Headlands Technologies LLC purchased a new position in shares of IDEX during the 4th quarter valued at approximately $52,000. 97.96% of the stock is owned by hedge funds and other institutional investors.

IDEX Price Performance

IEX traded up $0.41 on Wednesday, hitting $208.48. 464,885 shares of the company’s stock were exchanged, compared to its average volume of 426,239. IDEX Co. has a fifty-two week low of $183.76 and a fifty-two week high of $246.36. The company has a current ratio of 3.37, a quick ratio of 2.45 and a debt-to-equity ratio of 0.37. The firm has a 50-day moving average price of $203.69 and a 200-day moving average price of $219.53. The stock has a market cap of $15.78 billion, a price-to-earnings ratio of 27.43, a P/E/G ratio of 2.08 and a beta of 0.95.

IDEX Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, July 26th. Shareholders of record on Friday, July 12th were paid a dividend of $0.69 per share. The ex-dividend date was Friday, July 12th. This represents a $2.76 annualized dividend and a yield of 1.32%. IDEX’s dividend payout ratio (DPR) is presently 36.32%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Oppenheimer boosted 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 shares of IDEX from a “buy” rating to a “hold” rating in a report on Thursday, July 11th. Robert W. Baird cut their price target on shares of IDEX from $260.00 to $256.00 and set an “outperform” rating for the company in a report on Thursday, April 25th. Citigroup boosted their price target on shares of IDEX from $254.00 to $277.00 and gave the stock a “buy” rating in a report on Monday, April 8th. Finally, Stifel Nicolaus cut their price target on shares of IDEX from $265.00 to $236.00 and set a “buy” rating for the company in a report on Thursday, July 18th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $246.57.

IDEX 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.