Public Employees Retirement System of Ohio Decreases Position in IDEX Co. (IEX)
Public Employees Retirement System of Ohio reduced its stake in IDEX Co. (NYSE:IEX) by 6.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 157,848 shares of the industrial products company’s stock after selling 10,101 shares during the period. Public Employees Retirement System of Ohio’s holdings in IDEX were worth $19,930,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Quantamental Technologies LLC bought a new position in IDEX in the fourth quarter worth about $25,000. Lindbrook Capital LLC bought a new position in IDEX in the fourth quarter worth about $32,000. Essex Investment Management Co. LLC bought a new position in IDEX in the fourth quarter worth about $33,000. JOYN Advisors Inc. raised its stake in IDEX by 51.4% in the fourth quarter. JOYN Advisors Inc. now owns 265 shares of the industrial products company’s stock worth $33,000 after buying an additional 90 shares in the last quarter. Finally, Penserra Capital Management LLC bought a new position in IDEX in the fourth quarter worth about $35,000. 94.59% of the stock is owned by institutional investors.
In other news, VP Michael J. Yates sold 11,397 shares of the stock in a transaction that occurred on Wednesday, February 27th. The shares were sold at an average price of $144.72, for a total transaction of $1,649,373.84. Following the sale, the vice president now owns 26,590 shares in the company, valued at $3,848,104.80. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Jeffrey D. Bucklew sold 2,255 shares of the stock in a transaction that occurred on Friday, February 15th. The shares were sold at an average price of $143.02, for a total transaction of $322,510.10. Following the sale, the senior vice president now owns 2,255 shares in the company, valued at approximately $322,510.10. The disclosure for this sale can be found here. 1.20% of the stock is currently owned by company insiders.
IDEX (NYSE:IEX) last announced its earnings results on Tuesday, January 29th. The industrial products company reported $1.31 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.27 by $0.04. IDEX had a net margin of 16.53% and a return on equity of 20.82%. The business had revenue of $614.09 million during the quarter, compared to the consensus estimate of $617.72 million. During the same quarter last year, the firm earned $1.12 earnings per share. The business’s revenue for the quarter was up 4.8% on a year-over-year basis. On average, analysts forecast that IDEX Co. will post 5.73 earnings per share for the current fiscal year.
A number of research firms recently issued reports on IEX. Boenning Scattergood reissued a “hold” rating on shares of IDEX in a research note on Wednesday, January 30th. Zacks Investment Research raised shares of IDEX from a “sell” rating to a “hold” rating in a research note on Thursday, January 24th. Finally, Royal Bank of Canada raised shares of IDEX from a “sector perform” rating to an “outperform” rating and raised their target price for the company from $141.00 to $146.00 in a research note on Thursday, January 3rd. Eight research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $145.70.
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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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