Nisa Investment Advisors LLC Lowers Stake in IDEX Corporation (NYSE:IEX)

Nisa Investment Advisors LLC trimmed its position in IDEX Corporation (NYSE:IEX - Free Report) by 8.0% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 30,200 shares of the industrial products company's stock after selling 2,612 shares during the period. Nisa Investment Advisors LLC's holdings in IDEX were worth $5,465,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of IDEX by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 9,306,008 shares of the industrial products company's stock worth $1,947,654,000 after purchasing an additional 63,432 shares in the last quarter. Wellington Management Group LLP boosted its holdings in IDEX by 49.1% in the 4th quarter. Wellington Management Group LLP now owns 4,219,596 shares of the industrial products company's stock worth $883,119,000 after buying an additional 1,388,667 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings 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 worth $767,421,000 after buying an additional 277,964 shares during the period. Impax Asset Management Group plc boosted its holdings 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 buying an additional 207,172 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in IDEX by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 1,912,933 shares of the industrial products company's stock worth $399,350,000 after buying an additional 21,758 shares during the period. 97.96% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on IEX shares. Stifel Nicolaus raised their price objective on shares of IDEX from $192.00 to $208.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. Citigroup lowered their target price on shares of IDEX from $264.00 to $201.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Royal Bank Of Canada increased their target price 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. Robert W. Baird set a $215.00 target price on shares of IDEX in a research note on Friday, May 2nd. Finally, Mizuho set a $185.00 target price on shares of IDEX in a research note on Friday, May 16th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $212.50.

IDEX Trading Down 2.1%

NYSE:IEX traded down $3.82 during trading hours on Friday, reaching $181.61. The company's stock had a trading volume of 646,834 shares, compared to its average volume of 603,865. The firm has a market capitalization of $13.72 billion, a price-to-earnings ratio of 28.78, a PEG ratio of 1.88 and a beta of 1.04. The firm has a 50-day simple moving average of $181.41 and a 200-day simple moving average of $188.36. IDEX Corporation has a 1 year low of $153.36 and a 1 year high of $238.22. 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 (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 (EPS) for the quarter, topping analysts' consensus estimates of $1.64 by $0.11. The business had revenue of $814.30 million for 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 company's revenue was up 1.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.88 EPS. Research analysts expect that IDEX Corporation will post 8.26 EPS for the current fiscal year.

IDEX Dividend Announcement

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

Insider Transactions at IDEX

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

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.