Teacher Retirement System of Texas Acquires New Stake in IDEX Corporation (NYSE:IEX)

Teacher Retirement System of Texas purchased a new stake in shares of IDEX Corporation (NYSE:IEX - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 11,070 shares of the industrial products company's stock, valued at approximately $2,003,000.

Several other institutional investors have also made changes to their positions in the company. Wealth Enhancement Advisory Services LLC lifted its position in shares of IDEX by 1.3% in the 4th 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 period. Oppenheimer Asset Management Inc. lifted its position in shares of IDEX by 0.7% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 8,332 shares of the industrial products company's stock worth $1,508,000 after purchasing an additional 61 shares during the period. MassMutual Private Wealth & Trust FSB lifted its position 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 worth $26,000 after purchasing an additional 64 shares during the period. Laird Norton Wetherby Wealth Management LLC lifted its position 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 worth $445,000 after purchasing an additional 66 shares during the period. Finally, RMR Wealth Builders lifted its stake in shares of IDEX by 5.1% in the 1st quarter. RMR Wealth Builders now owns 1,511 shares of the industrial products company's stock valued at $273,000 after purchasing an additional 74 shares during the period. 97.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CFO Akhil Mahendra sold 250 shares of the company's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $180.89, for a total value of $45,222.50. Following the transaction, the chief financial officer directly owned 5,035 shares in the company, valued at approximately $910,781.15. This represents a 4.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.50% of the company's stock.

IDEX Trading Down 2.1%

IEX traded down $3.82 during trading hours on Friday, reaching $181.61. 646,834 shares of the company's stock traded hands, compared to its average volume of 603,884. The firm has a 50-day moving average price of $181.41 and a 200 day moving average price of $188.57. IDEX Corporation has a 52-week low of $153.36 and a 52-week high of $238.22. The firm has a market capitalization of $13.72 billion, a PE ratio of 28.78, a PEG ratio of 1.87 and a beta of 1.04. The company has a quick ratio of 1.99, a current ratio of 2.79 and a debt-to-equity ratio of 0.47.

IDEX (NYSE:IEX - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The industrial products company reported $1.75 earnings per share 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 return on equity of 15.51% and a net margin of 14.60%. The company's revenue was up 1.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.88 earnings per share. As a group, sell-side analysts predict that IDEX Corporation will post 8.26 EPS for the current fiscal year.

IDEX Announces Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend is Friday, July 11th. This represents a $2.84 dividend on an annualized basis and a yield of 1.56%. IDEX's payout ratio is 45.01%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on IEX. Royal Bank Of Canada lifted their price target on shares of IDEX from $206.00 to $208.00 and gave the company an "outperform" rating in a research report on Friday, May 2nd. Mizuho set a $185.00 price target on shares of IDEX in a research report on Friday, May 16th. Stifel Nicolaus lifted their price target on shares of IDEX from $192.00 to $208.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. Robert W. Baird set a $215.00 price objective on IDEX in a research note on Friday, May 2nd. Finally, Citigroup lowered their price objective on IDEX from $264.00 to $201.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, IDEX has a consensus rating of "Moderate Buy" and a consensus price target of $212.50.

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.