ProShare Advisors LLC Sells 4,881 Shares of IDEX Co. (NYSE:IEX)

ProShare Advisors LLC reduced its position in shares of IDEX Co. (NYSE:IEX - Free Report) by 30.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 10,974 shares of the industrial products company's stock after selling 4,881 shares during the period. ProShare Advisors LLC's holdings in IDEX were worth $2,297,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wellington Management Group LLP grew its holdings in shares of IDEX by 49.1% during the fourth quarter. Wellington Management Group LLP now owns 4,219,596 shares of the industrial products company's stock worth $883,119,000 after purchasing an additional 1,388,667 shares during the last quarter. Norges Bank bought a new stake in IDEX during the 4th quarter worth about $217,658,000. Price T Rowe Associates Inc. MD increased its position in IDEX by 8.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,666,777 shares of the industrial products company's stock valued at $767,421,000 after acquiring an additional 277,964 shares in the last quarter. Allianz Asset Management GmbH increased its position in IDEX by 133.2% in the 4th quarter. Allianz Asset Management GmbH now owns 406,637 shares of the industrial products company's stock valued at $85,105,000 after acquiring an additional 232,255 shares in the last quarter. Finally, Corient Private Wealth LLC raised its stake in shares of IDEX by 237.1% in the fourth quarter. Corient Private Wealth LLC now owns 256,769 shares of the industrial products company's stock worth $53,740,000 after acquiring an additional 180,601 shares during the last quarter. 97.96% of the stock is currently owned by institutional investors and hedge funds.

IDEX Trading Down 0.9%

Shares of IDEX stock traded down $1.57 during trading on Monday, reaching $179.56. 421,433 shares of the company were exchanged, compared to its average volume of 584,161. The business has a 50-day moving average price of $176.87 and a 200-day moving average price of $199.13. The firm has a market capitalization of $13.56 billion, a price-to-earnings ratio of 27.00, a P/E/G ratio of 1.98 and a beta of 1.07. The company has a quick ratio of 1.85, a current ratio of 2.53 and a debt-to-equity ratio of 0.49. IDEX Co. has a twelve month low of $153.36 and a twelve month high of $238.22.

IDEX (NYSE:IEX - Get Free Report) last posted its earnings results 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. The company had revenue of $814.30 million during the quarter, compared to analyst estimates of $807.25 million. IDEX had a return on equity of 16.08% and a net margin of 15.45%. The company's revenue for the quarter was up 1.7% compared to the same quarter last year. During the same period in the previous year, the company earned $1.88 EPS. Sell-side analysts anticipate that IDEX Co. will post 8.26 EPS for the current fiscal year.

IDEX Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Monday, May 19th will be given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.58%. This is a boost from IDEX's previous quarterly dividend of $0.69. The ex-dividend date of this dividend is Monday, May 19th. IDEX's dividend payout ratio (DPR) is currently 45.01%.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Robert W. Baird set a $215.00 price target on shares of IDEX in a report on Friday, May 2nd. Stifel Nicolaus lifted their target price on IDEX from $192.00 to $208.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. Mizuho set a $185.00 target price on IDEX in a research report on Friday, May 16th. DA Davidson decreased their price target on IDEX from $225.00 to $215.00 and set a "neutral" rating on the stock in a report on Wednesday, February 19th. Finally, Citigroup dropped their price objective on IDEX from $264.00 to $201.00 and set a "buy" rating for the company in a report on Monday, April 14th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, IDEX currently has an average rating of "Moderate Buy" and a consensus target price of $212.50.

About IDEX

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.