Kentucky Retirement Systems Insurance Trust Fund Invests $398,000 in IDEX Corporation (NYSE:IEX)

Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in shares of IDEX Corporation (NYSE:IEX - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 2,202 shares of the industrial products company's stock, valued at approximately $398,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC increased its holdings in shares of IDEX by 1.3% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 4,925 shares of the industrial products company's stock worth $1,031,000 after purchasing an additional 61 shares during the last quarter. MassMutual Private Wealth & Trust FSB increased its stake in IDEX by 81.0% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 143 shares of the industrial products company's stock worth $26,000 after acquiring an additional 64 shares during the last quarter. Laird Norton Wetherby Wealth Management LLC increased its stake in 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 worth $445,000 after acquiring an additional 66 shares during the last quarter. Net Worth Advisory Group increased its position in IDEX by 2.8% in the fourth quarter. Net Worth Advisory Group now owns 2,651 shares of the industrial products company's stock worth $555,000 after purchasing an additional 73 shares during the last quarter. Finally, RMR Wealth Builders increased its position in IDEX by 5.1% in the first quarter. RMR Wealth Builders now owns 1,511 shares of the industrial products company's stock worth $273,000 after purchasing an additional 74 shares during the last quarter. Institutional investors own 97.96% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on IEX shares. Robert W. Baird set a $215.00 price target on shares of IDEX in a research report on Friday, May 2nd. Royal Bank Of Canada boosted their price objective on IDEX from $206.00 to $208.00 and gave the stock an "outperform" rating in a research note on Friday, May 2nd. Citigroup reduced their price objective on IDEX from $264.00 to $201.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Mizuho set a $185.00 price objective on IDEX in a research note on Friday, May 16th. Finally, Stifel Nicolaus boosted their target price on IDEX from $192.00 to $208.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $212.50.

Insider Buying and Selling at IDEX

In other news, CFO Akhil Mahendra sold 250 shares of the firm's stock in a transaction dated 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 now directly owns 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.50% of the company's stock.

IDEX Trading Down 0.0%

Shares of IEX traded down $0.06 during mid-day trading on Friday, reaching $176.29. 788,116 shares of the company's stock traded hands, compared to its average volume of 596,393. The stock has a market cap of $13.32 billion, a P/E ratio of 27.94, a P/E/G ratio of 1.79 and a beta of 1.06. The stock's 50-day moving average is $179.50 and its two-hundred day moving average is $190.89. IDEX Corporation has a 12 month low of $153.36 and a 12 month high of $238.22. 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 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 15.51% and a net margin of 14.60%. The company had revenue of $814.30 million for the quarter, compared to analysts' expectations of $807.25 million. During the same quarter in the prior year, the firm earned $1.88 earnings per share. IDEX's revenue was up 1.7% compared to the same quarter last year. Research analysts forecast that IDEX Corporation will post 8.26 earnings per share for the current fiscal year.

IDEX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Stockholders 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 dividend yield of 1.61%. IDEX's dividend payout ratio is presently 45.01%.

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.