Toronto Dominion Bank Cuts Stock Holdings in IDEX Co. (NYSE:IEX)

Toronto Dominion Bank decreased its holdings in shares of IDEX Co. (NYSE:IEX - Free Report) by 34.3% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 25,564 shares of the industrial products company's stock after selling 13,320 shares during the period. Toronto Dominion Bank's holdings in IDEX were worth $5,350,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in IEX. Wellington Management Group LLP increased its position in IDEX by 49.1% during the 4th quarter. Wellington Management Group LLP now owns 4,219,596 shares of the industrial products company's stock valued at $883,119,000 after purchasing an additional 1,388,667 shares during the period. Norges Bank purchased a new position in IDEX during the 4th quarter valued at about $217,658,000. Price T Rowe Associates Inc. MD increased its position in IDEX by 8.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,666,777 shares of the industrial products company's stock valued at $767,421,000 after purchasing an additional 277,964 shares during the period. Allianz Asset Management GmbH increased its position in IDEX by 133.2% during the 4th quarter. Allianz Asset Management GmbH now owns 406,637 shares of the industrial products company's stock valued at $85,105,000 after purchasing an additional 232,255 shares during the period. Finally, Corient Private Wealth LLC increased its position in IDEX by 237.1% during the 4th quarter. Corient Private Wealth LLC now owns 256,769 shares of the industrial products company's stock valued at $53,740,000 after purchasing an additional 180,601 shares during the period. Hedge funds and other institutional investors own 97.96% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Stifel Nicolaus raised their target price on shares of IDEX from $192.00 to $208.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. Mizuho set a $185.00 price target on shares of IDEX in a report on Friday, May 16th. Citigroup lowered their price target on shares of IDEX from $264.00 to $201.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Royal Bank of Canada raised their price target on shares of IDEX from $206.00 to $208.00 and gave the company an "outperform" rating in a report on Friday, May 2nd. Finally, Robert W. Baird set a $215.00 price target on shares of IDEX in a report on Friday, May 2nd. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, IDEX presently has a consensus rating of "Moderate Buy" and a consensus price target of $212.50.

IDEX Price Performance

NYSE IEX opened at $181.10 on Thursday. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.53 and a quick ratio of 1.85. The stock's fifty day moving average price is $177.05 and its 200 day moving average price is $200.16. IDEX Co. has a 1 year low of $153.36 and a 1 year high of $238.22. The company has a market cap of $13.68 billion, a price-to-earnings ratio of 27.23, a PEG ratio of 1.98 and a beta of 1.07.

IDEX (NYSE:IEX - Get Free Report) last released its earnings results on Thursday, May 1st. The industrial products company reported $1.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.64 by $0.11. IDEX had a return on equity of 16.08% and a net margin of 15.45%. The firm had revenue of $814.30 million for the quarter, compared to the consensus estimate of $807.25 million. During the same period in the prior year, the firm earned $1.88 EPS. The firm's revenue was up 1.7% on a year-over-year basis. As a group, equities research analysts forecast that IDEX Co. will post 8.26 earnings per share for the current year.

IDEX Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Monday, May 19th will be given a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 1.57%. This is an increase from IDEX's previous quarterly dividend of $0.69. The ex-dividend date is Monday, May 19th. IDEX's dividend payout ratio is presently 45.01%.

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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