IDEX Co. (NYSE:IEX) Shares Bought by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. increased its holdings in shares of IDEX Co. (NYSE:IEX) by 28.8% during the 1st quarter, HoldingsChannel reports. The fund owned 46,699 shares of the industrial products company’s stock after acquiring an additional 10,454 shares during the period. Envestnet Asset Management Inc.’s holdings in IDEX were worth $7,086,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. BlackRock Inc. boosted its position in shares of IDEX by 0.8% during the 1st quarter. BlackRock Inc. now owns 8,048,153 shares of the industrial products company’s stock valued at $1,221,229,000 after acquiring an additional 65,516 shares in the last quarter. Vanguard Group Inc boosted its position in shares of IDEX by 1.4% during the 3rd quarter. Vanguard Group Inc now owns 6,997,198 shares of the industrial products company’s stock valued at $1,054,197,000 after acquiring an additional 95,176 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its position in shares of IDEX by 10,176.1% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 4,856,591 shares of the industrial products company’s stock valued at $38,000 after acquiring an additional 4,809,330 shares in the last quarter. FMR LLC boosted its position in shares of IDEX by 55.9% during the 4th quarter. FMR LLC now owns 1,733,558 shares of the industrial products company’s stock valued at $218,879,000 after acquiring an additional 621,397 shares in the last quarter. Finally, Impax Asset Management Group plc boosted its position in shares of IDEX by 15.5% during the 4th quarter. Impax Asset Management Group plc now owns 1,240,378 shares of the industrial products company’s stock valued at $156,610,000 after acquiring an additional 166,540 shares in the last quarter. Institutional investors and hedge funds own 94.66% of the company’s stock.

In other IDEX news, Chairman Andrew K. Silvernail sold 81,120 shares of the business’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $155.11, for a total value of $12,582,523.20. Following the completion of the transaction, the chairman now directly owns 173,947 shares of the company’s stock, valued at $26,980,919.17. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Daniel J. Salliotte sold 7,125 shares of the business’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $153.06, for a total transaction of $1,090,552.50. Following the completion of the transaction, the senior vice president now directly owns 44,545 shares of the company’s stock, valued at $6,818,057.70. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 103,423 shares of company stock valued at $16,055,566. Insiders own 1.20% of the company’s stock.

Several brokerages have recently weighed in on IEX. Zacks Investment Research lowered shares of IDEX from a “buy” rating to a “hold” rating and set a $171.00 target price on the stock. in a research report on Tuesday. DA Davidson reissued a “neutral” rating on shares of IDEX in a report on Friday, April 26th. Stifel Nicolaus lifted their price target on shares of IDEX from $129.00 to $153.00 and gave the company a “hold” rating in a report on Tuesday, April 16th. Oppenheimer reissued a “hold” rating on shares of IDEX in a report on Wednesday, May 8th. Finally, Janney Montgomery Scott downgraded shares of IDEX from a “buy” rating to a “neutral” rating in a report on Friday, March 29th. Nine research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $153.00.

Shares of NYSE IEX opened at $160.30 on Thursday. IDEX Co. has a 1-year low of $117.72 and a 1-year high of $165.72. The stock has a market capitalization of $12.27 billion, a price-to-earnings ratio of 29.15, a P/E/G ratio of 2.79 and a beta of 1.22. The company has a quick ratio of 2.45, a current ratio of 3.33 and a debt-to-equity ratio of 0.41.

IDEX (NYSE:IEX) last announced its earnings results on Thursday, April 25th. The industrial products company reported $1.44 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.37 by $0.07. IDEX had a net margin of 16.92% and a return on equity of 21.22%. The company had revenue of $622.20 million during the quarter, compared to the consensus estimate of $634.38 million. During the same period in the previous year, the firm posted $1.27 earnings per share. The company’s revenue was up 1.6% on a year-over-year basis. On average, equities research analysts anticipate that IDEX Co. will post 5.82 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Friday, May 17th were paid a $0.50 dividend. The ex-dividend date of this dividend was Thursday, May 16th. This is an increase from IDEX’s previous quarterly dividend of $0.43. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.25%. IDEX’s payout ratio is currently 36.97%.

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About IDEX

IDEX Corporation, through its subsidiaries, operates as an applied solutions company 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, flow meters, injectors, and other fluid-handling pump modules and systems, as well as offers flow monitoring and other services for the food, chemical, general industrial, water and wastewater, agricultural, and energy industries.

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Institutional Ownership by Quarter for IDEX (NYSE:IEX)

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