IDEX Co. (NYSE:IEX) Shares Sold by Pacer Advisors Inc.

Pacer Advisors Inc. cut its stake in shares of IDEX Co. (NYSE:IEX) by 74.2% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 6,543 shares of the industrial products company’s stock after selling 18,770 shares during the period. Pacer Advisors Inc.’s holdings in IDEX were worth $1,369,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in IEX. Sumitomo Mitsui Trust Group Inc. lifted its stake in IDEX by 2.7% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 168,023 shares of the industrial products company’s stock valued at $36,041,000 after buying an additional 4,465 shares in the last quarter. Cerity Partners LLC grew its stake in IDEX by 48.3% during the 3rd quarter. Cerity Partners LLC now owns 20,632 shares of the industrial products company’s stock valued at $4,426,000 after acquiring an additional 6,720 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in shares of IDEX by 7.1% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 250,443 shares of the industrial products company’s stock valued at $53,720,000 after purchasing an additional 16,504 shares during the last quarter. Covea Finance increased its position in IDEX by 70.6% during the fourth quarter. Covea Finance now owns 14,500 shares of the industrial products company’s stock worth $3,035,000 after purchasing an additional 6,000 shares during the last quarter. Finally, B.O.S.S. Retirement Advisors LLC raised its position in shares of IDEX by 17.3% during the 3rd quarter. B.O.S.S. Retirement Advisors LLC now owns 27,805 shares of the industrial products company’s stock valued at $5,964,000 after buying an additional 4,096 shares during the period. 97.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

IEX has been the subject of a number of research analyst reports. Royal Bank of Canada increased their price objective on shares of IDEX from $248.00 to $258.00 and gave the stock an “outperform” rating in a research report on Friday, December 6th. Stifel Nicolaus raised their price objective on shares of IDEX from $244.00 to $256.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Citigroup cut their target price on IDEX from $269.00 to $267.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Finally, Robert W. Baird decreased their price objective on shares of IDEX from $245.00 to $241.00 and set an “outperform” rating for the company in a research note on Thursday, October 31st. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $242.86.

IDEX Stock Performance

NYSE IEX opened at $224.19 on Monday. The firm has a market cap of $16.98 billion, a P/E ratio of 34.70, a P/E/G ratio of 2.15 and a beta of 0.97. IDEX Co. has a 52-week low of $189.51 and a 52-week high of $246.36. The business’s 50-day moving average price is $218.90 and its 200 day moving average price is $211.90. The company has a quick ratio of 2.11, a current ratio of 2.97 and a debt-to-equity ratio of 0.54.

IDEX Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 17th were issued a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date was Friday, January 17th. IDEX’s payout ratio is currently 42.72%.

IDEX Company 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.