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

Bank of New York Mellon Corp cut its holdings in IDEX Corporation (NYSE:IEX - Free Report) by 4.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund 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 approximately 0.81% of IDEX worth $110,649,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in IEX. Impax Asset Management Group plc increased its stake in IDEX by 11.5% in the 1st quarter. Impax Asset Management Group plc now owns 2,006,724 shares of the industrial products company's stock worth $363,157,000 after purchasing an additional 207,172 shares during the period. IFM Investors Pty Ltd grew its position in shares of IDEX by 5.4% in the 1st quarter. IFM Investors Pty Ltd now owns 19,612 shares of the industrial products company's stock worth $3,549,000 after buying an additional 1,004 shares during the last quarter. OneDigital Investment Advisors LLC increased its stake in shares of IDEX by 15.7% during the first quarter. OneDigital Investment Advisors LLC now owns 1,874 shares of the industrial products company's stock valued at $339,000 after buying an additional 254 shares during the period. Teacher Retirement System of Texas purchased a new stake in IDEX in the first quarter worth $2,003,000. Finally, WCM Investment Management LLC lifted its stake in IDEX by 57.6% in the first quarter. WCM Investment Management LLC now owns 1,623 shares of the industrial products company's stock worth $294,000 after acquiring an additional 593 shares during the period. 97.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at IDEX

In other IDEX news, CFO Akhil Mahendra sold 250 shares of the business's 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 completion of the sale, the chief financial officer owned 5,035 shares of the company's stock, valued at approximately $910,781.15. The trade was a 4.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.50% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on IEX. Citigroup dropped their target price on shares of IDEX from $264.00 to $201.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Stifel Nicolaus lifted their price target on shares of IDEX from $192.00 to $208.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. Royal Bank Of Canada boosted their price objective on shares of IDEX from $206.00 to $208.00 and gave the stock an "outperform" rating in a research note on Friday, May 2nd. Mizuho set a $185.00 target price on shares of IDEX in a research note on Friday, May 16th. Finally, Robert W. Baird set a $215.00 price target on IDEX in a research report on Friday, May 2nd. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $212.50.

IDEX Stock Up 0.6%

Shares of NYSE:IEX traded up $1.09 during trading on Thursday, reaching $185.47. 686,179 shares of the stock traded hands, compared to its average volume of 602,737. IDEX Corporation has a 52-week low of $153.36 and a 52-week high of $238.22. The stock has a 50-day moving average of $181.21 and a two-hundred day moving average of $188.75. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.99 and a current ratio of 2.79. The stock has a market cap of $14.01 billion, a P/E ratio of 29.39, a price-to-earnings-growth ratio of 1.85 and a beta of 1.04.

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

IDEX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Friday, July 11th will be given a $0.71 dividend. The ex-dividend date of this dividend is Friday, July 11th. This represents a $2.84 annualized dividend and a yield of 1.53%. IDEX's payout ratio is 45.01%.

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.