IDEX Corporation (NYSE:IEX) Shares Bought by Citigroup Inc.

Citigroup Inc. grew its position in IDEX Corporation (NYSE:IEX) by 64.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 79,816 shares of the industrial products company’s stock after acquiring an additional 31,256 shares during the quarter. Citigroup Inc. owned approximately 0.11% of IDEX worth $14,444,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in IEX. MassMutual Private Wealth & Trust FSB increased its holdings in shares of IDEX by 81.0% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 143 shares of the industrial products company’s stock valued at $26,000 after acquiring an additional 64 shares during the last quarter. Banque de Luxembourg S.A. bought a new position in IDEX during the 4th quarter worth $27,000. UMB Bank n.a. grew its stake in IDEX by 63.5% during the 1st quarter. UMB Bank n.a. now owns 224 shares of the industrial products company’s stock worth $41,000 after buying an additional 87 shares during the last quarter. Quarry LP bought a new position in IDEX during the 4th quarter worth $49,000. Finally, Federated Hermes Inc. grew its stake in IDEX by 42.9% during the 1st quarter. Federated Hermes Inc. now owns 333 shares of the industrial products company’s stock worth $60,000 after buying an additional 100 shares during the last quarter. 97.96% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently commented on IEX shares. Royal Bank Of Canada lowered their price objective on IDEX from $207.00 to $200.00 and set an “outperform” rating for the company in a research note on Thursday, July 31st. Mizuho set a $185.00 price target on IDEX in a research note on Friday, May 16th. Robert W. Baird set a $215.00 price target on IDEX in a research note on Friday, May 2nd. Stifel Nicolaus decreased their price target on IDEX from $238.00 to $204.00 and set a “buy” rating for the company in a research note on Thursday, July 31st. Finally, Citigroup increased their price target on IDEX from $208.00 to $216.00 and gave the stock a “buy” rating in a research note on Monday, July 14th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $201.71.

Insider Activity at IDEX

In other news, CFO Akhil Mahendra sold 250 shares of the company’s stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $180.89, for a total transaction of $45,222.50. Following the completion of the sale, the chief financial officer directly owned 5,035 shares of the company’s stock, valued at $910,781.15. This represents a 4.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.50% of the stock is currently owned by corporate insiders.

IDEX Trading Down 1.3%

Shares of IDEX stock opened at $167.23 on Friday. The company has a quick ratio of 2.13, a current ratio of 3.05 and a debt-to-equity ratio of 0.46. The firm has a market cap of $12.59 billion, a price-to-earnings ratio of 27.02, a price-to-earnings-growth ratio of 1.79 and a beta of 1.04. The business has a fifty day simple moving average of $176.01 and a 200-day simple moving average of $181.66. IDEX Corporation has a fifty-two week low of $153.36 and a fifty-two week high of $238.22.

IDEX (NYSE:IEX) last announced its quarterly earnings data on Wednesday, July 30th. The industrial products company reported $2.07 earnings per share for the quarter, beating the consensus estimate of $2.00 by $0.07. IDEX had a return on equity of 15.16% and a net margin of 14.05%. The business had revenue of $865.40 million during the quarter, compared to analyst estimates of $858.59 million. During the same quarter in the prior year, the firm posted $2.06 earnings per share. The company’s revenue was up 7.2% on a year-over-year basis. On average, equities analysts forecast that IDEX Corporation will post 8.26 EPS for the current fiscal year.

IDEX Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, July 25th. Stockholders of record on Friday, July 11th were issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend was Friday, July 11th. IDEX’s dividend payout ratio is currently 45.88%.

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.