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Bank of New York Mellon Corp Lowers Stake in IDEX Corporation (NYSE:IEX)

IDEX logo with Industrials background

Bank of New York Mellon Corp cut its holdings in shares of IDEX Corporation (NYSE:IEX - Free Report) by 4.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 611,422 shares of the industrial products company's stock after selling 31,768 shares during the period. Bank of New York Mellon Corp owned 0.81% of IDEX worth $110,649,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in IEX. MassMutual Private Wealth & Trust FSB increased its position in shares of IDEX by 81.0% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 143 shares of the industrial products company's stock worth $26,000 after purchasing an additional 64 shares in the last quarter. Banque de Luxembourg S.A. acquired a new position in shares of IDEX during the fourth quarter worth $27,000. UMB Bank n.a. increased its position in shares of IDEX by 63.5% during the first quarter. UMB Bank n.a. now owns 224 shares of the industrial products company's stock worth $41,000 after purchasing an additional 87 shares in the last quarter. Quarry LP acquired a new position in shares of IDEX during the fourth quarter worth $49,000. Finally, Versant Capital Management Inc increased its position in shares of IDEX by 970.7% during the first quarter. Versant Capital Management Inc now owns 439 shares of the industrial products company's stock worth $79,000 after purchasing an additional 398 shares in the last quarter. 97.96% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on IEX shares. Royal Bank Of Canada upped their price target on IDEX from $206.00 to $208.00 and gave the stock an "outperform" rating in a research report on Friday, May 2nd. Robert W. Baird set a $215.00 target price on IDEX in a research report on Friday, May 2nd. Mizuho set a $185.00 target price on IDEX in a research report on Friday, May 16th. Stifel Nicolaus upped their target price on IDEX from $192.00 to $208.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. Finally, Citigroup cut their target price on IDEX from $264.00 to $201.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $212.50.

Check Out Our Latest Stock Analysis on IEX

IDEX Stock Performance

Shares of NYSE IEX traded down $3.82 during mid-day trading on Friday, hitting $181.61. The stock had a trading volume of 646,834 shares, compared to its average volume of 604,776. The company has a 50 day moving average of $181.41 and a two-hundred day moving average of $188.20. The firm has a market cap of $13.72 billion, a PE ratio of 28.78, a PEG ratio of 1.84 and a beta of 1.04. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.99 and a current ratio of 2.79. IDEX Corporation has a twelve month low of $153.36 and a twelve month high of $238.22.

IDEX (NYSE:IEX - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The industrial products company reported $1.75 earnings per share for the quarter, topping the consensus estimate of $1.64 by $0.11. The company had revenue of $814.30 million for the quarter, compared to the consensus estimate of $807.25 million. IDEX had a return on equity of 15.51% and a net margin of 14.60%. The firm's revenue for the quarter was up 1.7% compared to the same quarter last year. During the same period last year, the firm earned $1.88 EPS. Research analysts predict that IDEX Corporation will post 8.26 EPS for the current fiscal year.

IDEX Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Friday, July 11th will be given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 1.56%. The ex-dividend date of this dividend is Friday, July 11th. IDEX's dividend payout ratio is currently 45.01%.

Insiders Place Their Bets

In other IDEX news, CFO Akhil Mahendra sold 250 shares of the stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $180.89, for a total transaction of $45,222.50. Following the sale, the chief financial officer directly owned 5,035 shares of the company's stock, valued at approximately $910,781.15. This trade represents a 4.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.50% of the company's stock.

About IDEX

(Free Report)

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.

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Institutional Ownership by Quarter for IDEX (NYSE:IEX)

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