Tounjian Advisory Partners LLC Purchases Shares of 18,692 IDEX Co. (NYSE:IEX)

Tounjian Advisory Partners LLC bought a new position in shares of IDEX Co. (NYSE:IEX - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 18,692 shares of the industrial products company's stock, valued at approximately $3,382,000.

A number of other institutional investors have also made changes to their positions in IEX. Banque de Luxembourg S.A. bought a new stake in shares of IDEX during the fourth quarter worth approximately $27,000. MassMutual Private Wealth & Trust FSB lifted its holdings in IDEX by 81.0% during 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 last quarter. UMB Bank n.a. boosted its stake in IDEX by 63.5% in the 1st quarter. UMB Bank n.a. now owns 224 shares of the industrial products company's stock valued at $41,000 after purchasing an additional 87 shares during the period. Quarry LP bought a new stake in IDEX in the 4th quarter valued at $49,000. Finally, Jones Financial Companies Lllp grew its holdings in IDEX by 35.2% in the 4th quarter. Jones Financial Companies Lllp now owns 407 shares of the industrial products company's stock valued at $85,000 after buying an additional 106 shares in the last quarter. 97.96% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

IEX has been the subject of a number of recent research reports. Stifel Nicolaus boosted their target price 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. DA Davidson dropped their price objective on shares of IDEX from $225.00 to $215.00 and set a "neutral" rating for the company in a research note on Wednesday, February 19th. Robert W. Baird set a $215.00 target price on shares of IDEX in a research report on Friday, May 2nd. Mizuho set a $185.00 target price on shares of IDEX in a report on Friday, May 16th. Finally, Citigroup cut their price target 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 equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $212.50.

Insider Activity

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

IDEX Stock Down 0.1%

Shares of IDEX stock traded down $0.14 during trading hours on Monday, reaching $183.17. The company's stock had a trading volume of 626,567 shares, compared to its average volume of 581,315. The company has a market capitalization of $13.84 billion, a P/E ratio of 27.54, a P/E/G ratio of 1.98 and a beta of 1.06. The stock's fifty day simple moving average is $176.46 and its two-hundred day simple moving average is $195.89. IDEX Co. has a one year low of $153.36 and a one year high of $238.22. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.85 and a current ratio of 2.53.

IDEX (NYSE:IEX - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The industrial products company reported $1.75 EPS for the quarter, beating analysts' consensus estimates of $1.64 by $0.11. IDEX had a return on equity of 16.08% and a net margin of 15.45%. The company had revenue of $814.30 million during the quarter, compared to the consensus estimate of $807.25 million. During the same period last year, the business posted $1.88 earnings per share. IDEX's revenue was up 1.7% on a year-over-year basis. On average, research analysts forecast that IDEX Co. will post 8.26 earnings per share for the current year.

IDEX Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Monday, May 19th were issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.55%. This is an increase from IDEX's previous quarterly dividend of $0.69. The ex-dividend date of this dividend was Monday, May 19th. 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.