IDEX Corporation (NYSE:IEX) Shares Purchased by National Bank of Canada FI

National Bank of Canada FI lifted its holdings in IDEX Corporation (NYSE:IEX - Free Report) by 60.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 57,561 shares of the industrial products company's stock after buying an additional 21,686 shares during the period. National Bank of Canada FI owned approximately 0.08% of IDEX worth $10,417,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of IEX. Raymond James Financial Inc. purchased a new position in IDEX during the fourth quarter worth about $35,375,000. Sterling Capital Management LLC raised its stake in IDEX by 55.4% during the fourth quarter. Sterling Capital Management LLC now owns 4,490 shares of the industrial products company's stock worth $940,000 after purchasing an additional 1,601 shares during the period. Barclays PLC raised its stake in IDEX by 1.4% during the fourth quarter. Barclays PLC now owns 1,194,125 shares of the industrial products company's stock worth $249,922,000 after purchasing an additional 16,480 shares during the period. Mariner LLC raised its stake in IDEX by 7.2% during the fourth quarter. Mariner LLC now owns 9,127 shares of the industrial products company's stock worth $1,910,000 after purchasing an additional 612 shares during the period. Finally, Canada Post Corp Registered Pension Plan purchased a new position in IDEX during the fourth quarter worth about $105,000. 97.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on IEX. Stifel Nicolaus reduced their price target on shares of IDEX from $238.00 to $204.00 and set a "buy" rating on the stock in a research note on Thursday, July 31st. Citigroup boosted their price target on shares of IDEX from $208.00 to $216.00 and gave the company a "buy" rating in a research note on Monday, July 14th. Robert W. Baird set a $215.00 price target on shares of IDEX in a research note on Friday, May 2nd. Royal Bank Of Canada reduced their price target on shares of IDEX from $207.00 to $200.00 and set an "outperform" rating on the stock in a research note on Thursday, July 31st. Finally, DA Davidson set a $180.00 price target on shares of IDEX and gave the company a "neutral" rating in a research note on Monday, August 4th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, IDEX currently has an average rating of "Moderate Buy" and a consensus price target of $201.71.

IDEX Stock Down 1.4%

NYSE IEX traded down $2.40 on Friday, hitting $164.79. 579,200 shares of the stock were exchanged, compared to its average volume of 866,780. The company has a quick ratio of 2.13, a current ratio of 3.05 and a debt-to-equity ratio of 0.46. IDEX Corporation has a fifty-two week low of $153.36 and a fifty-two week high of $238.22. The company has a market cap of $12.41 billion, a PE ratio of 26.62, a PEG ratio of 1.74 and a beta of 1.04. The company has a 50-day moving average price of $175.64 and a 200-day moving average price of $181.01.

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

IDEX Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 25th. Stockholders of record on Friday, July 11th were issued a $0.71 dividend. The ex-dividend date was Friday, July 11th. This represents a $2.84 annualized dividend and a dividend yield of 1.7%. IDEX's dividend payout ratio is presently 45.88%.

Insider Activity

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

IDEX Company 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.