IDEX Co. (IEX) Stake Increased by Great West Life Assurance Co. Can

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Great West Life Assurance Co. Can lifted its position in shares of IDEX Co. (NYSE:IEX) by 3.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 72,892 shares of the industrial products company’s stock after acquiring an additional 2,114 shares during the period. Great West Life Assurance Co. Can’s holdings in IDEX were worth $9,954,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently modified their holdings of the company. State Board of Administration of Florida Retirement System lifted its holdings in shares of IDEX by 0.3% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 108,678 shares of the industrial products company’s stock worth $14,832,000 after acquiring an additional 340 shares during the period. US Bancorp DE lifted its holdings in shares of IDEX by 17.3% during the 2nd quarter. US Bancorp DE now owns 2,670 shares of the industrial products company’s stock worth $364,000 after acquiring an additional 393 shares during the period. M&T Bank Corp lifted its holdings in shares of IDEX by 1.8% during the 1st quarter. M&T Bank Corp now owns 21,879 shares of the industrial products company’s stock worth $3,118,000 after acquiring an additional 395 shares during the period. State Treasurer State of Michigan lifted its holdings in shares of IDEX by 1.5% during the 1st quarter. State Treasurer State of Michigan now owns 27,900 shares of the industrial products company’s stock worth $3,976,000 after acquiring an additional 400 shares during the period. Finally, Glen Harbor Capital Management LLC lifted its holdings in shares of IDEX by 4.0% during the 1st quarter. Glen Harbor Capital Management LLC now owns 12,308 shares of the industrial products company’s stock worth $1,754,000 after acquiring an additional 476 shares during the period. 95.64% of the stock is owned by institutional investors.

A number of brokerages have recently weighed in on IEX. Zacks Investment Research downgraded shares of IDEX from a “buy” rating to a “hold” rating in a report on Wednesday, May 16th. Cowen reissued a “hold” rating and issued a $130.00 price objective on shares of IDEX in a research note on Tuesday, July 24th. Stifel Nicolaus increased their price objective on shares of IDEX from $140.00 to $149.00 and gave the company a “hold” rating in a research note on Thursday, July 26th. Wells Fargo & Co reissued a “buy” rating and issued a $170.00 price objective (up previously from $165.00) on shares of IDEX in a research note on Wednesday, July 25th. Finally, Oppenheimer reissued a “hold” rating on shares of IDEX in a research note on Wednesday, July 25th. Eleven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $148.10.

In other news, VP Michael J. Yates sold 1,030 shares of the firm’s stock in a transaction on Wednesday, August 29th. The shares were sold at an average price of $155.91, for a total transaction of $160,587.30. Following the completion of the transaction, the vice president now owns 27,602 shares of the company’s stock, valued at $4,303,427.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Andrew K. Silvernail sold 94,045 shares of the firm’s stock in a transaction on Wednesday, July 25th. The shares were sold at an average price of $145.00, for a total transaction of $13,636,525.00. Following the transaction, the chairman now directly owns 149,451 shares of the company’s stock, valued at approximately $21,670,395. The disclosure for this sale can be found here. Insiders have sold 139,858 shares of company stock valued at $20,573,870 in the last ninety days. Insiders own 1.20% of the company’s stock.

Shares of NYSE:IEX opened at $152.57 on Friday. The company has a market capitalization of $11.71 billion, a P/E ratio of 35.40, a P/E/G ratio of 2.46 and a beta of 1.22. The company has a quick ratio of 2.39, a current ratio of 3.21 and a debt-to-equity ratio of 0.43. IDEX Co. has a one year low of $116.11 and a one year high of $156.00.

IDEX (NYSE:IEX) last issued its quarterly earnings data on Tuesday, July 24th. The industrial products company reported $1.40 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.31 by $0.09. The business had revenue of $634.40 million during the quarter, compared to the consensus estimate of $623.10 million. IDEX had a net margin of 15.94% and a return on equity of 19.71%. The firm’s revenue was up 10.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.08 EPS. research analysts forecast that IDEX Co. will post 5.32 earnings per share for the current fiscal year.

IDEX Profile

IDEX Corporation, through its subsidiaries, provides various pumps, valves, flow meters, other fluidics systems and components, and engineered products worldwide. Its Fluid & Metering Technologies segment designs, produces, and distributes positive displacement pumps, flow meters, injectors, other fluid-handling pump modules and systems, and specialty valve products, as well as offers flow monitoring and other services for food, chemical, general industrial, water and wastewater, agricultural, and energy industries.

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Institutional Ownership by Quarter for IDEX (NYSE:IEX)

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