Massachusetts Financial Services Co. MA Buys 1,967 Shares of IDEX Corporation (NYSE:IEX)

Massachusetts Financial Services Co. MA grew its position in IDEX Corporation (NYSE:IEX - Free Report) by 9.0% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 23,766 shares of the industrial products company's stock after buying an additional 1,967 shares during the period. Massachusetts Financial Services Co. MA's holdings in IDEX were worth $4,301,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of IEX. Vanguard Group Inc. raised its position 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 valued at $1,947,654,000 after buying an additional 63,432 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of 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 valued at $883,119,000 after acquiring an additional 1,388,667 shares during the period. Price T Rowe Associates Inc. MD grew 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 buying an additional 277,964 shares during the last quarter. Impax Asset Management Group plc grew its position 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 valued at $363,157,000 after buying an additional 207,172 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of IDEX by 1.2% during 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 purchasing an additional 21,758 shares in the last quarter. 97.96% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Robert W. Baird set a $215.00 target price on shares of IDEX in a research note on Friday, May 2nd. Citigroup upped their price target on IDEX from $208.00 to $216.00 and gave the stock a "buy" rating in a report on Monday, July 14th. Stifel Nicolaus increased 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 price target on IDEX in a research report on Friday, May 16th. Finally, Royal Bank Of Canada upped their price target on IDEX from $206.00 to $208.00 and gave the company an "outperform" rating in a research report on Friday, May 2nd. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $214.38.

IDEX Price Performance

IEX stock traded down $0.49 during trading hours on Friday, hitting $183.47. 651,955 shares of the stock traded hands, compared to its average volume of 608,723. The stock has a 50-day simple moving average of $181.37 and a 200 day simple moving average of $187.20. IDEX Corporation has a one year low of $153.36 and a one year high of $238.22. The company has a market cap of $13.86 billion, a P/E ratio of 29.08, a P/E/G ratio of 1.86 and a beta of 1.04. The company has a current ratio of 2.79, a quick ratio of 1.99 and a debt-to-equity ratio of 0.47.

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

IDEX Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Friday, July 11th will be paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date is Friday, July 11th. IDEX's dividend payout ratio is presently 45.01%.

Insider Buying and Selling

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

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.