Police & Firemen s Retirement System of New Jersey Has $2.01 Million Stock Holdings in IDEX Corporation $IEX

Police & Firemen s Retirement System of New Jersey increased its holdings in shares of IDEX Corporation (NYSE:IEX) by 4.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,463 shares of the industrial products company’s stock after purchasing an additional 485 shares during the period. Police & Firemen s Retirement System of New Jersey’s holdings in IDEX were worth $2,013,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Teachers Retirement System of The State of Kentucky grew its position in shares of IDEX by 2.9% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 5,817 shares of the industrial products company’s stock worth $1,053,000 after buying an additional 162 shares during the period. Y Intercept Hong Kong Ltd grew its holdings in IDEX by 34.7% in the first quarter. Y Intercept Hong Kong Ltd now owns 13,824 shares of the industrial products company’s stock worth $2,502,000 after purchasing an additional 3,565 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH increased its stake in IDEX by 12.5% in the first quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 124,723 shares of the industrial products company’s stock valued at $22,571,000 after purchasing an additional 13,881 shares in the last quarter. Oak Thistle LLC raised its holdings in shares of IDEX by 200.5% during the first quarter. Oak Thistle LLC now owns 4,261 shares of the industrial products company’s stock valued at $771,000 after purchasing an additional 2,843 shares during the period. Finally, AE Wealth Management LLC raised its holdings in shares of IDEX by 0.7% during the first quarter. AE Wealth Management LLC now owns 146,759 shares of the industrial products company’s stock valued at $26,560,000 after purchasing an additional 953 shares during the period. 97.96% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of IDEX in a research report on Wednesday, October 8th. DA Davidson set a $180.00 price objective on IDEX and gave the company a “neutral” rating in a report on Monday, August 4th. Stifel Nicolaus lowered their target price on IDEX from $204.00 to $191.00 and set a “buy” rating on the stock in a research report on Monday, October 20th. Oppenheimer set a $210.00 price target on shares of IDEX in a research report on Tuesday, October 7th. Finally, Royal Bank Of Canada decreased their price target on shares of IDEX from $200.00 to $195.00 and set an “outperform” rating for the company in a research note on Thursday, October 30th. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $198.86.

IDEX Stock Down 0.1%

Shares of NYSE:IEX opened at $161.58 on Thursday. The business’s 50 day moving average is $165.09 and its 200 day moving average is $171.92. IDEX Corporation has a 12-month low of $153.36 and a 12-month high of $237.38. The stock has a market cap of $12.09 billion, a price-to-earnings ratio of 25.57, a PEG ratio of 1.83 and a beta of 1.04. The company has a quick ratio of 2.13, a current ratio of 2.93 and a debt-to-equity ratio of 0.47.

IDEX (NYSE:IEX) last issued its quarterly earnings data on Friday, December 16th. The industrial products company reported $1.79 earnings per share for the quarter. IDEX had a return on equity of 15.20% and a net margin of 13.97%.The business had revenue of $712.00 million for the quarter. On average, sell-side analysts forecast that IDEX Corporation will post 8.26 earnings per share for the current fiscal year.

IDEX declared that its board has approved a stock buyback program on Thursday, September 18th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the industrial products company to reacquire up to 8.3% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

IDEX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 30th. Shareholders of record on Friday, January 16th will be given a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend is Friday, January 16th. IDEX’s dividend payout ratio is presently 44.94%.

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.