California Public Employees Retirement System Has $32.38 Million Holdings in IDEX Corporation $IEX

California Public Employees Retirement System lessened its holdings in IDEX Corporation (NYSE:IEX) by 14.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 184,408 shares of the industrial products company’s stock after selling 30,599 shares during the period. California Public Employees Retirement System owned 0.24% of IDEX worth $32,377,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the stock. LPL Financial LLC increased its position in IDEX by 1.9% during the first quarter. LPL Financial LLC now owns 20,068 shares of the industrial products company’s stock worth $3,632,000 after acquiring an additional 366 shares during the period. Citigroup Inc. increased its holdings in shares of IDEX by 64.4% during the first quarter. Citigroup Inc. now owns 79,816 shares of the industrial products company’s stock worth $14,444,000 after purchasing an additional 31,256 shares during the period. National Bank of Canada FI raised its position in shares of IDEX by 60.4% in the first quarter. National Bank of Canada FI now owns 57,561 shares of the industrial products company’s stock valued at $10,417,000 after buying an additional 21,686 shares in the last quarter. Invesco Ltd. boosted its stake in shares of IDEX by 15.4% in the first quarter. Invesco Ltd. now owns 1,545,463 shares of the industrial products company’s stock valued at $279,682,000 after buying an additional 206,633 shares during the period. Finally, Nuveen LLC acquired a new stake in IDEX during the first quarter worth approximately $27,794,000. 97.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

IEX has been the subject of several analyst reports. Cowen reaffirmed a “buy” rating on shares of IDEX in a report on Wednesday, December 3rd. Royal Bank Of Canada dropped their price target on IDEX from $200.00 to $195.00 and set an “outperform” rating for the company in a research note on Thursday, October 30th. Stifel Nicolaus cut their price objective on shares of IDEX from $204.00 to $191.00 and set a “buy” rating for the company in a research report on Monday, October 20th. Weiss Ratings reissued a “hold (c-)” rating on shares of IDEX in a report on Wednesday, October 8th. Finally, Oppenheimer set a $210.00 price target on shares of IDEX in a report on Tuesday, October 7th. Five research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, IDEX has an average rating of “Moderate Buy” and a consensus target price of $196.86.

IDEX Trading Up 1.6%

Shares of IDEX stock opened at $176.34 on Thursday. The firm’s 50 day moving average is $168.82 and its 200 day moving average is $170.72. The firm has a market capitalization of $13.20 billion, a PE ratio of 27.90, a price-to-earnings-growth ratio of 1.83 and a beta of 1.01. IDEX Corporation has a 1 year low of $153.36 and a 1 year high of $230.29. The company has a current ratio of 2.93, a quick ratio of 2.06 and a debt-to-equity ratio of 0.47.

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

IDEX Announces Dividend

The company also recently announced 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. The ex-dividend date is Friday, January 16th. This represents a $2.84 annualized dividend and a yield of 1.6%. IDEX’s dividend payout ratio (DPR) is currently 44.94%.

IDEX declared that its board has initiated a stock buyback plan on Thursday, September 18th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the industrial products company to buy up to 8.3% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

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.