State of New Jersey Common Pension Fund D Sells 14,275 Shares of IDEX Co. (NYSE:IEX)

State of New Jersey Common Pension Fund D reduced its stake in IDEX Co. (NYSE:IEX) by 36.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 25,169 shares of the industrial products company’s stock after selling 14,275 shares during the period. State of New Jersey Common Pension Fund D’s holdings in IDEX were worth $5,064,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of IEX. International Assets Investment Management LLC purchased a new stake in shares of IDEX in the fourth quarter worth approximately $518,000. Private Advisor Group LLC boosted its holdings in shares of IDEX by 6.4% in the 4th quarter. Private Advisor Group LLC now owns 2,418 shares of the industrial products company’s stock valued at $525,000 after buying an additional 146 shares in the last quarter. Principal Securities Inc. purchased a new position in shares of IDEX in the 4th quarter worth approximately $61,000. Dimensional Fund Advisors LP grew its holdings in IDEX by 6.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 369,268 shares of the industrial products company’s stock worth $80,172,000 after purchasing an additional 20,785 shares during the last quarter. Finally, Quadrant Capital Group LLC boosted its position in shares of IDEX by 29.9% in the 4th quarter. Quadrant Capital Group LLC now owns 673 shares of the industrial products company’s stock worth $146,000 after purchasing an additional 155 shares in the last quarter. Hedge funds and other institutional investors own 97.96% of the company’s stock.

Wall Street Analysts Forecast Growth

IEX has been the topic of a number of recent analyst reports. DA Davidson cut their price target on shares of IDEX from $220.00 to $210.00 and set a “neutral” rating on the stock in a research note on Monday, August 5th. Oppenheimer decreased their target price on shares of IDEX from $245.00 to $238.00 and set an “outperform” rating for the company in a research note on Monday, August 5th. Stifel Nicolaus cut their price objective on shares of IDEX from $265.00 to $236.00 and set a “buy” rating for the company in a report on Thursday, July 18th. Robert W. Baird reduced their price target on IDEX from $256.00 to $241.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. Finally, StockNews.com cut shares of IDEX from a “buy” rating to a “hold” rating in a research note on Thursday, July 11th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $233.50.

IDEX Price Performance

IEX stock opened at $202.68 on Tuesday. The stock has a market capitalization of $15.34 billion, a price-to-earnings ratio of 26.67, a price-to-earnings-growth ratio of 2.09 and a beta of 0.95. The stock’s fifty day simple moving average is $200.46 and its 200-day simple moving average is $214.32. IDEX Co. has a 52-week low of $183.76 and a 52-week high of $246.36. The company has a quick ratio of 2.52, a current ratio of 3.41 and a debt-to-equity ratio of 0.36.

IDEX (NYSE:IEX) last posted its earnings results on Wednesday, July 31st. The industrial products company reported $2.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.04 by $0.02. IDEX had a net margin of 18.19% and a return on equity of 16.87%. The firm had revenue of $807.20 million during the quarter, compared to the consensus estimate of $828.15 million. During the same quarter in the prior year, the company earned $2.18 EPS. The company’s revenue was down 4.6% on a year-over-year basis. Equities research analysts expect that IDEX Co. will post 7.88 EPS for the current year.

IDEX Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 26th. Investors of record on Friday, July 12th were issued a $0.69 dividend. This represents a $2.76 annualized dividend and a yield of 1.36%. The ex-dividend date was Friday, July 12th. IDEX’s dividend payout ratio is currently 36.32%.

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.