Envestnet Asset Management Inc. Has $15.88 Million Stock Position in IDEX Corporation (NYSE:IEX)

Envestnet Asset Management Inc. decreased its stake in shares of IDEX Corporation (NYSE:IEX - Free Report) by 21.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 87,725 shares of the industrial products company's stock after selling 24,043 shares during the period. Envestnet Asset Management Inc. owned approximately 0.12% of IDEX worth $15,876,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its holdings in shares of IDEX by 13.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 640,717 shares of the industrial products company's stock valued at $134,096,000 after acquiring an additional 73,540 shares in the last quarter. Snyder Capital Management L P raised its stake in shares of IDEX by 12.2% during the 4th quarter. Snyder Capital Management L P now owns 480,193 shares of the industrial products company's stock worth $100,500,000 after purchasing an additional 52,259 shares in the last quarter. Amalgamated Bank boosted its holdings in shares of IDEX by 1.0% in the 1st quarter. Amalgamated Bank now owns 14,731 shares of the industrial products company's stock valued at $2,666,000 after buying an additional 141 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of IDEX by 49.0% in the first quarter. GAMMA Investing LLC now owns 915 shares of the industrial products company's stock valued at $166,000 after buying an additional 301 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. increased its holdings in IDEX by 0.7% during the first quarter. Oppenheimer Asset Management Inc. now owns 8,332 shares of the industrial products company's stock worth $1,508,000 after buying an additional 61 shares during the last quarter. 97.96% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on IEX. Robert W. Baird set a $215.00 target price on shares of IDEX in a report on Friday, May 2nd. Citigroup lifted their price objective on shares of IDEX from $208.00 to $216.00 and gave the stock a "buy" rating in a research report on Monday. Royal Bank Of Canada increased their price target on shares of IDEX from $206.00 to $208.00 and gave the company an "outperform" rating in a report on Friday, May 2nd. Mizuho set a $185.00 price target on IDEX in a research note on Friday, May 16th. Finally, Stifel Nicolaus raised their price target on shares of IDEX from $192.00 to $208.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $214.38.

IDEX Trading Up 2.3%

Shares of IEX stock opened at $183.94 on Friday. 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 fifty-two week low of $153.36 and a fifty-two week high of $238.22. The company has a market cap of $13.89 billion, a PE ratio of 29.15, a P/E/G ratio of 1.82 and a beta of 1.04. The stock's fifty day moving average price is $181.37 and its two-hundred day moving average price is $187.53.

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

IDEX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Friday, July 11th will be given 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 1.54%. IDEX's dividend payout ratio is currently 45.01%.

Insider Buying and Selling

In other news, CFO Akhil Mahendra sold 250 shares of the company's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $180.89, for a total value of $45,222.50. Following the completion of the transaction, the chief financial officer owned 5,035 shares of the company's stock, valued at $910,781.15. This represents a 4.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.50% of the company's stock.

IDEX Company 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.

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