IDEX Corporation (NYSE:IEX) Holdings Trimmed by Bank of Nova Scotia

Bank of Nova Scotia cut its holdings in IDEX Corporation (NYSE:IEX - Free Report) by 21.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,906 shares of the industrial products company's stock after selling 2,199 shares during the quarter. Bank of Nova Scotia's holdings in IDEX were worth $1,431,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of IEX. R Squared Ltd bought a new stake in shares of IDEX in the 1st quarter worth approximately $317,000. Blueshift Asset Management LLC increased its holdings in shares of IDEX by 117.5% in the first quarter. Blueshift Asset Management LLC now owns 3,097 shares of the industrial products company's stock valued at $560,000 after buying an additional 1,673 shares in the last quarter. Jefferies Financial Group Inc. acquired a new stake in shares of IDEX during the 1st quarter valued at $1,064,000. Vestcor Inc boosted its stake in shares of IDEX by 5.8% during the 1st quarter. Vestcor Inc now owns 4,232 shares of the industrial products company's stock worth $766,000 after acquiring an additional 232 shares in the last quarter. Finally, Federated Hermes Inc. grew its holdings in shares of IDEX by 42.9% in the 1st quarter. Federated Hermes Inc. now owns 333 shares of the industrial products company's stock worth $60,000 after acquiring an additional 100 shares during the last quarter. 97.96% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have issued reports on IEX shares. Robert W. Baird set a $215.00 price objective on IDEX in a report on Friday, May 2nd. Mizuho set a $185.00 target price on IDEX in a report on Friday, May 16th. Citigroup raised their target price on IDEX from $208.00 to $216.00 and gave the stock a "buy" rating in a research report on Monday, July 14th. DA Davidson set a $180.00 price target on IDEX and gave the company a "neutral" rating in a research report on Monday. Finally, Stifel Nicolaus decreased their price objective on IDEX from $238.00 to $204.00 and set a "buy" rating for the company in a research report on Thursday, July 31st. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $201.71.

Insider Activity

In other IDEX news, CFO Akhil Mahendra sold 250 shares of the stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $180.89, for a total transaction of $45,222.50. Following the transaction, the chief financial officer directly owned 5,035 shares of the company's stock, valued at $910,781.15. This represents a 4.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.50% of the company's stock.

IDEX Stock Down 0.8%

IEX opened at $158.46 on Friday. IDEX Corporation has a fifty-two week low of $153.36 and a fifty-two week high of $238.22. The business has a 50-day moving average of $177.75 and a 200-day moving average of $183.65. The company has a debt-to-equity ratio of 0.46, a current ratio of 3.05 and a quick ratio of 2.13. The company has a market capitalization of $11.93 billion, a PE ratio of 25.60, a price-to-earnings-growth ratio of 1.68 and a beta of 1.04.

IDEX (NYSE:IEX - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The industrial products company reported $2.07 EPS for the quarter, topping analysts' consensus estimates of $2.00 by $0.07. The firm had revenue of $865.40 million for the quarter, compared to the consensus estimate of $858.59 million. IDEX had a return on equity of 15.16% and a net margin of 14.05%. The firm's revenue was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.06 earnings per share. Equities research analysts forecast that IDEX Corporation will post 8.26 EPS for the current fiscal year.

IDEX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 25th. Investors of record on Friday, July 11th were paid a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend was Friday, July 11th. IDEX's payout ratio is presently 45.88%.

IDEX Profile

IDEX Corporation, together with its subsidiaries, provides applied solutions 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, valves, small volume provers, flow meters, injectors, and other fluid-handling pump modules and systems, as well as flow monitoring and other services for the food, chemical, general industrial, water and wastewater, agricultural, and energy industries.

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