IDEX Co. (NYSE:IEX) CFO Akhil Mahendra Sells 250 Shares

IDEX Co. (NYSE:IEX - Get Free Report) CFO Akhil Mahendra sold 250 shares of the business'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 transaction of $45,222.50. Following the completion of the transaction, the chief financial officer now directly 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 filing with the Securities & Exchange Commission, which is accessible through this link.

IDEX Trading Down 0.1%

IEX stock traded down $0.14 during midday trading on Monday, hitting $183.17. The company had a trading volume of 626,567 shares, compared to its average volume of 581,315. The stock has a market cap of $13.84 billion, a price-to-earnings ratio of 27.54, a PEG ratio of 1.98 and a beta of 1.06. IDEX Co. has a 52 week low of $153.36 and a 52 week high of $238.22. The company has a current ratio of 2.53, a quick ratio of 1.85 and a debt-to-equity ratio of 0.49. The stock's 50 day moving average price is $176.46 and its 200 day moving average price is $195.89.

IDEX (NYSE:IEX - Get Free Report) last posted 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 net margin of 15.45% and a return on equity of 16.08%. The company had revenue of $814.30 million during the quarter, compared to analyst estimates of $807.25 million. During the same period in the prior year, the business posted $1.88 EPS. The firm's revenue was up 1.7% compared to the same quarter last year. As a group, equities research analysts expect that IDEX Co. will post 8.26 earnings per share for the current fiscal year.

IDEX Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Monday, May 19th were issued a $0.71 dividend. The ex-dividend date of this dividend was Monday, May 19th. This represents a $2.84 annualized dividend and a yield of 1.55%. This is a boost from IDEX's previous quarterly dividend of $0.69. IDEX's payout ratio is 45.01%.

Analyst Upgrades and Downgrades

IEX has been the subject of a number of research analyst reports. Robert W. Baird set a $215.00 price objective on shares of IDEX in a report on Friday, May 2nd. Royal Bank of Canada raised 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. Mizuho set a $185.00 price objective on IDEX in a report on Friday, May 16th. Citigroup decreased their price objective on IDEX from $264.00 to $201.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Finally, DA Davidson reduced their price target on shares of IDEX from $225.00 to $215.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 19th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $212.50.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in IEX. Bleakley Financial Group LLC boosted its stake in shares of IDEX by 4.1% during the 4th quarter. Bleakley Financial Group LLC now owns 1,214 shares of the industrial products company's stock valued at $254,000 after purchasing an additional 48 shares in the last quarter. Horizon Investments LLC boosted its position in IDEX by 5.2% during the 1st quarter. Horizon Investments LLC now owns 1,087 shares of the industrial products company's stock valued at $197,000 after acquiring an additional 54 shares in the last quarter. Empowered Funds LLC boosted its position in IDEX by 3.4% during the 1st quarter. Empowered Funds LLC now owns 1,646 shares of the industrial products company's stock valued at $298,000 after acquiring an additional 54 shares in the last quarter. Blackston Financial Advisory Group LLC grew its holdings in shares of IDEX by 2.7% during the 4th quarter. Blackston Financial Advisory Group LLC now owns 2,299 shares of the industrial products company's stock worth $481,000 after acquiring an additional 60 shares during the period. Finally, Alps Advisors Inc. raised its position in shares of IDEX by 1.0% in the 1st quarter. Alps Advisors Inc. now owns 5,990 shares of the industrial products company's stock worth $1,084,000 after acquiring an additional 60 shares in the last quarter. 97.96% of the stock is currently owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.