GYL Financial Synergies LLC Takes Position in IDEX Co. (NYSE:IEX)

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GYL Financial Synergies LLC acquired a new stake in shares of IDEX Co. (NYSE:IEX) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 5,575 shares of the industrial products company’s stock, valued at approximately $846,000.

Several other large investors also recently made changes to their positions in the stock. BlackRock Inc. grew its position in IDEX by 0.8% in the 1st quarter. BlackRock Inc. now owns 8,048,153 shares of the industrial products company’s stock valued at $1,221,229,000 after acquiring an additional 65,516 shares during the last quarter. Vanguard Group Inc grew its position in IDEX by 1.4% in the 3rd quarter. Vanguard Group Inc now owns 6,997,198 shares of the industrial products company’s stock valued at $1,054,197,000 after acquiring an additional 95,176 shares during the last quarter. Oregon Public Employees Retirement Fund grew its position in IDEX by 10,176.1% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 4,856,591 shares of the industrial products company’s stock valued at $38,000 after acquiring an additional 4,809,330 shares during the last quarter. FMR LLC grew its position in IDEX by 55.9% in the 4th quarter. FMR LLC now owns 1,733,558 shares of the industrial products company’s stock valued at $218,879,000 after acquiring an additional 621,397 shares during the last quarter. Finally, Impax Asset Management Group plc grew its position in IDEX by 15.5% in the 4th quarter. Impax Asset Management Group plc now owns 1,240,378 shares of the industrial products company’s stock valued at $156,610,000 after acquiring an additional 166,540 shares during the last quarter. Institutional investors own 94.66% of the company’s stock.

Shares of IEX traded down $1.48 during midday trading on Friday, reaching $158.79. 63,917 shares of the stock were exchanged, compared to its average volume of 292,526. IDEX Co. has a 52 week low of $117.72 and a 52 week high of $165.72. The company has a market capitalization of $12.14 billion, a price-to-earnings ratio of 29.35, a PEG ratio of 2.76 and a beta of 1.22. The company has a current ratio of 3.33, a quick ratio of 2.45 and a debt-to-equity ratio of 0.41.

IDEX (NYSE:IEX) last issued its quarterly earnings data on Thursday, April 25th. The industrial products company reported $1.44 earnings per share for the quarter, beating analysts’ consensus estimates of $1.37 by $0.07. IDEX had a return on equity of 21.22% and a net margin of 16.92%. The company had revenue of $622.20 million for the quarter, compared to the consensus estimate of $634.38 million. During the same quarter last year, the company earned $1.27 earnings per share. The firm’s revenue for the quarter was up 1.6% compared to the same quarter last year. On average, equities research analysts predict that IDEX Co. will post 5.82 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 31st. Investors of record on Friday, May 17th were given a dividend of $0.50 per share. The ex-dividend date was Thursday, May 16th. This represents a $2.00 dividend on an annualized basis and a yield of 1.26%. This is an increase from IDEX’s previous quarterly dividend of $0.43. IDEX’s dividend payout ratio (DPR) is presently 36.97%.

In other IDEX news, SVP Daniel J. Salliotte sold 7,125 shares of the stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $153.06, for a total value of $1,090,552.50. Following the completion of the sale, the senior vice president now directly owns 44,545 shares in the company, valued at $6,818,057.70. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Michael J. Yates sold 15,178 shares of the stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $156.97, for a total value of $2,382,490.66. Following the completion of the sale, the vice president now owns 38,590 shares of the company’s stock, valued at $6,057,472.30. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 103,423 shares of company stock worth $16,055,566. 1.20% of the stock is owned by corporate insiders.

A number of equities analysts have recently issued reports on IEX shares. Berenberg Bank started coverage on IDEX in a research report on Wednesday, May 15th. They set a “buy” rating and a $180.00 price target on the stock. Zacks Investment Research downgraded IDEX from a “hold” rating to a “sell” rating in a research report on Tuesday, April 2nd. Janney Montgomery Scott downgraded IDEX from a “buy” rating to a “neutral” rating in a research report on Friday, March 29th. Oppenheimer reissued a “hold” rating on shares of IDEX in a research report on Wednesday, May 8th. Finally, DA Davidson reissued a “neutral” rating on shares of IDEX in a research report on Friday, April 26th. Nine investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $153.00.

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IDEX Company Profile

IDEX Corporation, through its subsidiaries, operates as an applied solutions company 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, flow meters, injectors, and other fluid-handling pump modules and systems, as well as offers flow monitoring and other services for the 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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