IDEX Co. (NYSE:IEX) Shares Sold by First Hawaiian Bank

First Hawaiian Bank lessened its stake in IDEX Co. (NYSE:IEX - Free Report) by 27.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,652 shares of the industrial products company's stock after selling 3,318 shares during the period. First Hawaiian Bank's holdings in IDEX were worth $1,566,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Bleakley Financial Group LLC increased its position in IDEX by 4.1% during the 4th quarter. Bleakley Financial Group LLC now owns 1,214 shares of the industrial products company's stock valued at $254,000 after purchasing an additional 48 shares during the period. Blackston Financial Advisory Group LLC increased its position in IDEX by 2.7% during the 4th quarter. Blackston Financial Advisory Group LLC now owns 2,299 shares of the industrial products company's stock valued at $481,000 after purchasing an additional 60 shares during the period. Wealth Enhancement Advisory Services LLC increased its position in IDEX by 1.3% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 4,925 shares of the industrial products company's stock valued at $1,031,000 after purchasing an additional 61 shares during the period. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of IDEX by 81.0% in the 1st 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 in the last quarter. Finally, Laird Norton Wetherby Wealth Management LLC boosted its holdings in shares of IDEX by 3.2% in the 4th 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 in the last quarter. Hedge funds and other institutional investors own 97.96% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on IEX shares. Stifel Nicolaus lifted their target price 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. Robert W. Baird set a $215.00 target price on shares of IDEX in a report on Friday, May 2nd. Royal Bank of Canada boosted their price target on shares of IDEX from $206.00 to $208.00 and gave the stock an "outperform" rating in a report on Friday, May 2nd. Citigroup cut their price target on shares of IDEX from $264.00 to $201.00 and set a "buy" rating for the company in a report on Monday, April 14th. Finally, DA Davidson cut their price target on shares of IDEX from $225.00 to $215.00 and set a "neutral" rating for the company in a report on Wednesday, February 19th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $212.50.

IDEX Stock Performance

Shares of IEX stock traded down $0.37 during trading hours on Wednesday, hitting $181.67. The stock had a trading volume of 121,046 shares, compared to its average volume of 577,691. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.53 and a quick ratio of 1.85. The stock's 50 day moving average is $176.43 and its 200 day moving average is $197.01. IDEX Co. has a twelve month low of $153.36 and a twelve month high of $238.22. The firm has a market capitalization of $13.72 billion, a PE ratio of 27.32, a PEG ratio of 1.98 and a beta of 1.06.

IDEX (NYSE:IEX - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The industrial products company reported $1.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.64 by $0.11. IDEX had a return on equity of 16.08% and a net margin of 15.45%. The firm had revenue of $814.30 million during the quarter, compared to analysts' expectations of $807.25 million. During the same quarter in the prior year, the business posted $1.88 earnings per share. IDEX's revenue was up 1.7% compared to the same quarter last year. As a group, research analysts forecast that IDEX Co. will post 8.26 earnings per share for the current fiscal year.

IDEX Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Monday, May 19th were paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 1.56%. This is a positive change from IDEX's previous quarterly dividend of $0.69. The ex-dividend date was Monday, May 19th. IDEX's dividend payout ratio (DPR) is presently 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.