Sumitomo Mitsui Asset Management Company LTD purchased a new stake in shares of IDEX Corporation (NYSE:IEX) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,297 shares of the industrial products company’s stock, valued at approximately $598,000.

A number of other institutional investors have also made changes to their positions in the stock. Asset Management One Co. Ltd. raised its stake in IDEX Corporation by 129.5% in the first quarter. Asset Management One Co. Ltd. now owns 20,120 shares of the industrial products company’s stock valued at $1,871,000 after buying an additional 11,352 shares during the period. Swiss National Bank raised its stake 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 period. Louisiana State Employees Retirement System raised its stake in IDEX Corporation by 3.1% in the second quarter. Louisiana State Employees Retirement System now owns 19,900 shares of the industrial products company’s stock valued at $2,249,000 after buying an additional 600 shares during the period. Liberty Mutual Group Asset Management Inc. raised its stake in IDEX Corporation by 2.9% in the first quarter. Liberty Mutual Group Asset Management Inc. now owns 34,128 shares of the industrial products company’s stock valued at $3,191,000 after buying an additional 957 shares during the period. Finally, BlackRock Inc. raised its stake in IDEX Corporation by 7,037.4% in the first quarter. BlackRock Inc. now owns 6,425,051 shares of the industrial products company’s stock valued at $600,808,000 after buying an additional 6,335,032 shares during the period. 98.68% of the stock is currently owned by institutional investors and hedge funds.

Shares of IDEX Corporation (NYSE:IEX) opened at 115.76 on Thursday. The stock has a market cap of $8.85 billion, a price-to-earnings ratio of 31.03 and a beta of 1.20. IDEX Corporation has a 52 week low of $82.05 and a 52 week high of $118.08. The stock’s 50 day moving average is $114.15 and its 200 day moving average is $102.40.

IDEX Corporation (NYSE:IEX) last announced its earnings results on Tuesday, July 25th. The industrial products company reported $1.08 EPS for the quarter, beating the Zacks’ consensus estimate of $1.06 by $0.02. IDEX Corporation had a net margin of 13.12% and a return on equity of 19.01%. The business had revenue of $573.40 million during the quarter, compared to analysts’ expectations of $568.43 million. During the same period in the prior year, the company earned $0.99 earnings per share. The firm’s revenue was up 4.3% on a year-over-year basis. On average, equities analysts forecast that IDEX Corporation will post $4.22 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, July 31st. Shareholders of record on Friday, July 14th were issued a dividend of $0.37 per share. The ex-dividend date was Wednesday, July 12th. This represents a $1.48 dividend on an annualized basis and a yield of 1.28%. IDEX Corporation’s dividend payout ratio is currently 39.68%.

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IEX has been the subject of several analyst reports. Zacks Investment Research upgraded shares of 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. Robert W. Baird reiterated a “buy” rating and issued a $104.00 price objective on shares of IDEX Corporation in a research note on Friday, April 21st. BidaskClub upgraded shares of IDEX Corporation from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 20th. Jefferies Group LLC reiterated a “hold” rating and issued a $79.00 price objective on shares of IDEX Corporation in a research note on Wednesday, April 12th. Finally, BMO Capital Markets reiterated a “hold” rating and issued a $104.00 price objective on shares of IDEX Corporation in a research note on Friday, April 21st. Nine analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $105.00.

In other IDEX Corporation news, Chairman Andrew K. Silvernail sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $115.00, for a total transaction of $5,750,000.00. Following the completion of the sale, the chairman now directly owns 142,114 shares of the company’s stock, valued at $16,343,110. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 1.00% of the stock is currently owned by corporate insiders.

About IDEX Corporation

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).

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

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