IDEX Corporation (NYSE:IEX) Shares Acquired by TD Asset Management Inc

Key Points

• TD Asset Management Inc increased its stake in IDEX Corporation by 3.1%, owning 163,743 shares valued at approximately $29.6 million as of the latest reporting period.
• IDEX Corporation reported earnings of $1.75 per share for the last quarter, exceeding analysts' expectations of $1.64, with revenues of $814.3 million.
• The company announced a quarterly dividend of $0.71 per share, indicating a 1.54% dividend yield and a payout ratio of 45.01%.

TD Asset Management Inc boosted its holdings in IDEX Corporation (NYSE:IEX - Free Report) by 3.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 163,743 shares of the industrial products company's stock after purchasing an additional 4,957 shares during the quarter. TD Asset Management Inc owned about 0.22% of IDEX worth $29,633,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of IEX. American Century Companies Inc. raised its position in IDEX by 3.4% in the 4th quarter. American Century Companies Inc. now owns 9,655 shares of the industrial products company's stock valued at $2,021,000 after purchasing an additional 314 shares during the last quarter. LPL Financial LLC raised its position in IDEX by 13.6% during the 4th quarter. LPL Financial LLC now owns 19,702 shares of the industrial products company's stock worth $4,123,000 after buying an additional 2,363 shares during the last quarter. UniSuper Management Pty Ltd raised its position in IDEX by 11.4% during the 4th quarter. UniSuper Management Pty Ltd now owns 9,933 shares of the industrial products company's stock worth $2,079,000 after buying an additional 1,017 shares during the last quarter. Blair William & Co. IL raised its position in IDEX by 7.0% during the 4th quarter. Blair William & Co. IL now owns 3,562 shares of the industrial products company's stock worth $746,000 after buying an additional 232 shares during the last quarter. Finally, Norges Bank purchased a new position in IDEX during the 4th quarter worth $217,658,000. Hedge funds and other institutional investors own 97.96% of the company's stock.

Wall Street Analysts Forecast Growth

IEX has been the subject of a number of analyst reports. Robert W. Baird set a $215.00 price objective on shares of IDEX in a research report on Friday, May 2nd. Oppenheimer cut their price objective on shares of IDEX from $224.00 to $212.00 and set an "outperform" rating for the company in a research report on Thursday. Royal Bank Of Canada cut their price objective on shares of IDEX from $207.00 to $200.00 and set an "outperform" rating for the company in a research report on Thursday. Citigroup upped their price objective on shares of IDEX from $208.00 to $216.00 and gave the stock a "buy" rating in a research report on Monday, July 14th. Finally, Stifel Nicolaus cut their price target on shares of IDEX from $238.00 to $204.00 and set a "buy" rating for the company in a report on Thursday. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, IDEX has a consensus rating of "Moderate Buy" and an average target price of $209.63.

Insider Activity at IDEX

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

IDEX Price Performance

NYSE:IEX traded down $4.50 during mid-day trading on Friday, hitting $159.01. 573,833 shares of the company's stock traded hands, compared to its average volume of 661,518. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.99 and a current ratio of 3.05. The firm's 50 day simple moving average is $179.90 and its 200 day simple moving average is $185.58. IDEX Corporation has a 1 year low of $153.36 and a 1 year high of $238.22. The company has a market cap of $12.01 billion, a PE ratio of 25.69, a price-to-earnings-growth ratio of 1.73 and a beta of 1.04.

IDEX (NYSE:IEX - Get Free Report) last posted its earnings results on Wednesday, July 30th. The industrial products company reported $2.07 earnings per share for the quarter, beating 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 firm had revenue of $865.40 million during the quarter, compared to the consensus estimate of $858.59 million. During the same period last year, the firm posted $2.06 EPS. The firm's revenue for the quarter was up 7.2% on a year-over-year basis. Sell-side analysts expect that IDEX Corporation will post 8.26 EPS for the current year.

IDEX Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, July 25th. Stockholders of record on Friday, July 11th were issued a dividend of $0.71 per share. The ex-dividend date was Friday, July 11th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.8%. IDEX's payout ratio is 45.88%.

About IDEX

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.