Brown Advisory Inc. Sells 11,189 Shares of IDEX Corporation (NYSE:IEX)

Brown Advisory Inc. reduced its position in IDEX Corporation (NYSE:IEX - Free Report) by 4.5% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 236,697 shares of the industrial products company's stock after selling 11,189 shares during the period. Brown Advisory Inc. owned 0.31% of IDEX worth $42,835,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in IEX. Wealth Enhancement Advisory Services LLC increased its position in shares of IDEX by 1.3% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 4,925 shares of the industrial products company's stock valued at $1,031,000 after buying an additional 61 shares during the period. Oppenheimer Asset Management Inc. increased its position in shares of IDEX by 0.7% during the first quarter. Oppenheimer Asset Management Inc. now owns 8,332 shares of the industrial products company's stock valued at $1,508,000 after buying an additional 61 shares during the period. 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 valued at $26,000 after buying an additional 64 shares during the period. Laird Norton Wetherby Wealth Management LLC increased its position in shares of IDEX by 3.2% during the fourth quarter. Laird Norton Wetherby Wealth Management LLC now owns 2,127 shares of the industrial products company's stock valued at $445,000 after buying an additional 66 shares during the period. Finally, Net Worth Advisory Group increased its position in shares of IDEX by 2.8% during the fourth quarter. Net Worth Advisory Group now owns 2,651 shares of the industrial products company's stock valued at $555,000 after buying an additional 73 shares during the period. 97.96% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Mizuho set a $185.00 price target on IDEX in a research report on Friday, May 16th. Royal Bank Of Canada upped their price objective on shares of IDEX from $206.00 to $208.00 and gave the stock an "outperform" rating in a research report on Friday, May 2nd. 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. Robert W. Baird set a $215.00 target price on shares of IDEX in a research report on Friday, May 2nd. Finally, Stifel Nicolaus boosted their price target on shares of IDEX from $192.00 to $208.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $212.50.

IDEX Price Performance

IEX stock traded down $3.82 during midday trading on Friday, reaching $181.61. The company had a trading volume of 646,834 shares, compared to its average volume of 603,773. IDEX Corporation has a 1 year low of $153.36 and a 1 year high of $238.22. The company has a market capitalization of $13.72 billion, a P/E ratio of 28.78, a P/E/G ratio of 1.87 and a beta of 1.04. The firm has a 50-day moving average price of $181.41 and a 200-day moving average price of $188.57. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.79 and a quick ratio of 1.99.

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, beating the consensus estimate of $1.64 by $0.11. The business had revenue of $814.30 million during the quarter, compared to analysts' expectations of $807.25 million. IDEX had a net margin of 14.60% and a return on equity of 15.51%. The firm's revenue for the quarter was up 1.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.88 EPS. On average, research analysts anticipate that IDEX Corporation will post 8.26 earnings per share for the current fiscal year.

IDEX Announces Dividend

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

Insider Activity

In other IDEX news, CFO Akhil Mahendra sold 250 shares of the firm's stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $180.89, for a total transaction of $45,222.50. Following the sale, the chief financial officer owned 5,035 shares in the company, valued at approximately $910,781.15. This trade represents a 4.73% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.50% of the company's stock.

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.