California Public Employees Retirement System cut its stake in shares of IDEX Corporation (NYSE:IEX) by 12.7% during the first quarter, Holdings Channel reports. The fund owned 177,600 shares of the industrial products company’s stock after selling 25,900 shares during the period. California Public Employees Retirement System owned 0.23% of IDEX Corporation worth $16,607,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in IEX. Guggenheim Capital LLC increased its position in IDEX Corporation by 1.5% in the fourth quarter. Guggenheim Capital LLC now owns 191,975 shares of the industrial products company’s stock valued at $17,289,000 after buying an additional 2,776 shares during the last quarter. Thrivent Financial for Lutherans increased its position in IDEX Corporation by 9.7% in the fourth quarter. Thrivent Financial for Lutherans now owns 13,070 shares of the industrial products company’s stock valued at $1,177,000 after buying an additional 1,160 shares during the last quarter. State Board of Administration of Florida Retirement System increased its position in IDEX Corporation by 1.6% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 101,670 shares of the industrial products company’s stock valued at $9,156,000 after buying an additional 1,642 shares during the last quarter. Capstone Investment Advisors LLC purchased a new position in IDEX Corporation during the fourth quarter valued at $1,045,000. Finally, Swiss National Bank increased its position in IDEX Corporation by 0.7% in the first quarter. Swiss National Bank now owns 126,100 shares of the industrial products company’s stock valued at $11,792,000 after buying an additional 900 shares during the last quarter. 99.03% of the stock is owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for IDEX Corporation (NYSE:IEX)

Shares of IDEX Corporation (IEX) traded up 0.16% during midday trading on Friday, reaching $113.20. The company’s stock had a trading volume of 610,591 shares. The stock has a market capitalization of $8.64 billion, a PE ratio of 31.18 and a beta of 1.15. The stock’s 50 day moving average is $107.51 and its 200 day moving average is $96.54. IDEX Corporation has a 12 month low of $77.93 and a 12 month high of $113.52.

IDEX Corporation (NYSE:IEX) last announced its earnings results on Wednesday, April 19th. The industrial products company reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.10. IDEX Corporation had a net margin of 12.89% and a return on equity of 19.19%. The company had revenue of $553.60 million for the quarter, compared to the consensus estimate of $533.14 million. During the same period in the previous year, the business earned $0.89 EPS. The company’s revenue was up 10.1% on a year-over-year basis. On average, analysts forecast that IDEX Corporation will post $4.07 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 31st. Shareholders of record on Monday, May 15th were paid a dividend of $0.37 per share. This is an increase from IDEX Corporation’s previous quarterly dividend of $0.34. This represents a $1.48 annualized dividend and a yield of 1.31%. The ex-dividend date of this dividend was Thursday, May 11th. IDEX Corporation’s payout ratio is 40.66%.

TRADEMARK VIOLATION NOTICE: This story was posted by Financial Market News and is the sole property of of Financial Market News. If you are accessing this story on another publication, it was copied illegally and republished in violation of U.S. & international trademark & copyright legislation. The legal version of this story can be accessed at https://www.financial-market-news.com/2017/06/17/idex-corporation-iex-shares-sold-by-california-public-employees-retirement-system.html.

Several equities analysts recently weighed in on IEX shares. Zacks Investment Research raised IDEX Corporation from a “hold” rating to a “buy” rating and set a $117.00 price objective for the company in a research note on Wednesday, May 10th. Janney Montgomery Scott downgraded IDEX Corporation from a “buy” rating to a “neutral” rating and set a $96.00 price objective for the company. in a research note on Thursday, March 2nd. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $99.00 price objective on shares of IDEX Corporation in a research note on Sunday, March 12th. BMO Capital Markets reaffirmed a “hold” rating and issued a $101.00 price objective on shares of IDEX Corporation in a research note on Monday, March 27th. Finally, Robert W. Baird reaffirmed a “buy” rating and issued a $104.00 price objective on shares of IDEX Corporation in a research note on Friday, April 21st. Eight equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $100.71.

In other IDEX Corporation news, VP Michael J. Yates sold 10,533 shares of the business’s stock in a transaction on Wednesday, April 26th. The shares were sold at an average price of $104.30, for a total transaction of $1,098,591.90. Following the sale, the vice president now directly owns 34,418 shares of the company’s stock, valued at approximately $3,589,797.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Jeffrey D. Bucklew sold 2,000 shares of the business’s stock in a transaction on Monday, April 24th. The shares were sold at an average price of $103.09, for a total transaction of $206,180.00. Following the sale, the senior vice president now directly owns 2,726 shares in the company, valued at $281,023.34. The disclosure for this sale can be found here. 1.00% of the stock is owned by insiders.

IDEX Corporation Company Profile

IDEX Corporation (IDEX) operates an applied solutions business that sells pumps, flow meters and other fluidics systems, and components and engineered products. The Company operates through three segments: Fluid & Metering Technologies (FMT), Health & Science Technologies (HST) and Fire & Safety/Diversified Products (FSDP).

Want to see what other hedge funds are holding IEX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for IDEX Corporation (NYSE:IEX).

Receive News & Ratings for IDEX Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for IDEX Corporation and related companies with MarketBeat.com's FREE daily email newsletter.